ESTO, a payments technology company based in the Baltics, reports record revenue in 2021 and shares the following financial updates:
Despite the COVID-19 pandemic, the company’s net profit grew 103% in 2021. The company earned €2.7 million in net profit on revenue of €13 million, versus €1.6 million net profit on revenue of €7.5 million in 2020, reflecting strong underlying performance across all operations. ESTO expects to continue the rapid growth with new markets and products.
In 2021 ESTO grew from a single operating company to ESTO Group, which now operates in 3 different Baltic countries and grew its business partnerships 56% and its user base 155%.
Gross Merchandise Value (GMV)
€55 million
Gross Merchandise Value (GMV) growth
133%
User base growth
155%
Business partnerships growth
56%
Revenue growth
57%
Net profit growth
103%
Total number of transactions (million)
8
Total volume of transactions (million)
210
“2021 proved to us that we can be so much more than a company that facilitates any kind of payments across devices. With ESTO, we can build the future of commerce. We believe and bet big on e-commerce and its influence on the future global economy. In the next years we plan to expand and increase the number of operating markets across EMEA and introduce innovative and exciting new product verticals for our commerce platform”
The 2021 audited annual report will be available at the end of May 2022.
About ESTO
ESTO was established in 2017 and provides a fully automated and tech-driven point of sale purchase financing and payments solution for its network of merchant partnerships in the Baltics. ESTO’s business model is to facilitate payments between the client and merchant in an e-commerce setting by providing real-time payments for the merchant and payment schedules for the client. Among its partners are some of the largest retailers on the Estonian market – Kaup24, ONOFF, Valge Klaar, RDE, Bigbox, Photopoint and many more.
