Estonian fintech Mifundo has made history by becoming the first fintech to receive full funding from the European Innovation Council (EIC) Accelerator, securing €2.5 million in grants and investment.

Mifundo aims to transform Europe's financial landscape with its AI-driven data platform, which allows credit profiles to be transferred across borders. This innovation helps banks assess foreign credit risks more accurately, reducing risk by up to seven times and boosting business volumes by 15%. Mifundo's goal is to create a unified credit market in the EU, improving financial service access continent-wide.

CEO Kaido Saar expressed pride in the achievement, highlighting the endorsement of their mission to revolutionize European finance. The new funding will support the expansion of their platform, integrating more countries and enhancing data services across the EU.

Founded in 2018, Mifundo, led by former Bigbank Group CEO Saar, is the pioneer of AI-based cross-border credit data, and has already won notable awards like the Europe Fintech Award 2023 and