The investment will be made as part of a syndicate during the Latitude59 technology conference, held this May in Tallinn, Estonia.

Latitude59 CEO Liisi Org noted that while EstBAN has been a long-time investor in the competition, Latvian and Lithuanian business angels are joining for the first time. “The willingness of investors from neighbouring countries to invest in the Latitude59 competition winners is significant. It shows that our traditional pitching competition has grown into the region's most prestigious and reliable platform where success stories for both founders and investors are born,” said Org.

The business angels from the three Baltic countries will invest up to half a million euros in the competition’s winners. Org also promised that more good news regarding the competition’s prize fund will be announced soon. In 2023 and 2024, companies such as AskToSell, Flowstep, and ÄIO secured nearly €2 million in investments through the competition. “We will maintain the high standard this year as well,” Org assured.

EstBAN's Managing Director Karin Künnapas said that the joint investment with LatBAN and LitBAN is a sign of good cooperation, trust, and quality. "We are three small but technologically innovative countries. In recent years, several well-known billion-euro companies have emerged from the Baltics, and our startup ecosystem and investment landscape are at the forefront globally. The Estonian Business Angels Network has been collaborating with our Latvian and Lithuanian colleagues for several years, and the fact that this year we have achieved a joint investment demonstrates that our goal – to work more closely together, on a larger scale, and with stronger connections – has been realized," said Künnapas.

Künnapas added that by joining forces, EstBAN, LatBAN, and LitBAN can bring the best Baltic startups to investors. "I am excited to see what joint investments and pan-Baltic startups will emerge from our region," she added.

Managing Director at LitBAN Roberta Rudokienė said that this collaboration marks a new era for Baltic startup investments. “By joining forces with EstBAN and LatBAN for the Latitude59 pitch competition, we are creating a stronger, more interconnected investment ecosystem that goes beyond borders. For startups, this is an incredible opportunity to gain not just funding but access to a network of experienced angels across the region. We’re excited to see the best early-stage innovators take the stage and look forward to backing the next big success story,” stated Rudokienė.

Managing Director of LatBAN Emīls Kragis added that the investment for Latitude59 pitching competition is a milestone moment. “For years, we’ve spoken about the importance of cross-border cooperation in the Baltic startup ecosystem, and now we have the perfect opportunity to demonstrate it in action. LatBAN has worked closely with EstBAN and LitBAN on various initiatives, and this joint collaborative investment for Latitude59 pitching competition is a milestone moment. We hope this will serve as a blueprint for even greater cross-border investment opportunities in the future,” said Kragis.

Last year, Latitude59 received a record-breaking 526 applications from 53 countries. This year early-stage startups from all over the world are invited to apply. Latitude59 is looking for founding teams with a clear mission, a scalable business model, and a functional product with proven traction or strong market feedback.

The application deadline for Latitude59 Pitch Competition is April 5, 2025. From among all the applying startups, a selection will be made, and the 30 strongest teams will be selected to pass to the semifinals for professional pitch training and mentoring. These teams will compete for funding and various partners’ prizes.

The competition unfolds in several stages throughout May, culminating in the finals on May 23, 2025, where the Top 5 startups will pitch on Latitude59’s main stage. Apply here: https://latitude59.ee/pitching-competition/