Sorainen has advised Montonio on raising EUR 2.5 million from Tera Ventures, as well as ffVC, Superangel, Practica, 365.fintech, Startup Wise Guys, and a number of business angels. Ellex Raidla advised Tera Ventures on the investment round.
According to Sorainen, "the round is a part of the convertible instrument round closed last year."
Montonio is a Tallinn-based provider of buy-now-pay-later and e-commerce payment services.
Sorainen previously advised Montonio on securing a EUR 500,000 investment in September 2020 (as reported by CEE Legal Matters on September 11, 2020).
Sorainen’s team consisted of Partner Toomas Prangli, Counsel Jane Eespold, Senior Associates Mirell Prosa and Robin Teever, and Associates Vladislav Leiri and Liutauras Vasiliauskas.
Ellex Raidla’s team included Adviser Antti Perli and Lawyers Hanna Pahk, Anneli Krunks, Merlin Liis-Toomela, and Priit Pruks.