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Why did I sell my tech company after 7 years of building?

Updated: Aug 25, 2023

Growing up in Ambla, a quaint village nestled in the heart of Estonia with a mere 500 residents, my passion for building and crafting new things was evident. This penchant followed me to high school in Tallinna 21. Kool, where Epp Vodja, one of the most influential teachers in my life, introduced me to the world of entrepreneurship. She encouraged me to transform my ideas and enthusiasm into creating a student company.

My academic pursuits took me from Estonia to the Netherlands and Singapore, where small-scale student ventures evolved into grand aspirations of establishing tech businesses that would make significant imprints on hundreds of thousands, if not millions.

In the start of my entrepreneurial journey, I was joined by Gustav Liblik, my co-founder, and early team members Alice Tärk and Marek Pajussaar. Our combined efforts and shared visions paved the way for what would become a brokerage serving over 130,000 customers across all 27 EU nations. As of today, at the age of 30, our venture has seen tens of millions of audited revenue/income including profitability in 3 out of its 7 years of operation.

But why to sell 51% controlling stake and decide to collaborate with Andromeda Capital Partners Suisse AG and particularly with Ingmar? The reasons are manifold:

  1. A Synergistic Partnership: In the fiercely competitive landscape of trading apps, success hinges on a blend of industry know-how, influential connections, and significant capital backing. Ingmar, with his experience as a founder of a successful brokerage, Tickmill, embodies the perfect partner. In such a cutthroat brokerage space, a cohesive team isn't just an asset; it's a necessity.

  2. Prioritizing Value: Our commitment has always been towards maximizing value for both our shareholders and customers. While 2021 was a banner year for us, the subsequent years didn't match up to our aspirations. Bringing Ingmar on board is not just an addition of expertise but a strategic move geared toward propelling Change into new heights. I of course am exceited to hold a smaller piece of a potentially larger pie.

  3. Cultivating Trust: In the world of investment apps, the currency of trust weighs heaviest. Our alliance with an industry stalwart amplifies the trust quotient, reinforcing our commitment to safeguarding customer assets. Having a heavyweight like Ingmar as the majority shareholder guarantees the financial stability and continuation of Change, further fostering confidence among all our stakeholders, be it users, regulators, or the media.

With this strategic alliance, my mission as the second-largest shareholder and an investor in this round (contributing 150K) is crystal clear: elevate Change to new heights. And once this chapter reaches its zenith, rest assured, my entrepreneurial spirit will guide me to craft yet another impactful venture.

Some extras ;)

First Change screens in 2016

First office in Singapore in 2016 (with no windows)

Early days with Gustav in 2017

First Estonian office in 2018

Our amazing team in 2022

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