Creem, a fintech startup based in Estonia, has successfully raised €1.8 million in a pre-seed funding round. The round was spearheaded by Practica Capital, with additional investments from Antler and notable angel investors such as Johan Pietilä from Voi and Martin Olofsson, formerly of Mastercard, along with individuals linked to Revolut and Crypto.com.
Practica Capital, a venture capital firm situated in Vilnius, Lithuania, focuses on early-stage investments in the Baltic region. The firm has a keen interest in technology-driven enterprises, emphasizing B2B SaaS, marketplaces, and deep industrial tech, managing over €130 million across four funds.
Creem plans to utilize the new capital to broaden its payment reach into additional markets, enhance its compliance and tax systems, and develop tools aimed at developers for programmable finance. Founded in 2024 by Gabriel Ferraz and Alec Erasmus, Creem offers a financial infrastructure platform tailored for AI startups and global teams. The platform facilitates the management of payments, compliance, tax responsibilities, and multi-party revenue distribution, supporting both traditional currencies and stablecoins. A recent addition to their offerings is the revenue splits feature, which automates payments to contributors and partners. Based in Estonia, Creem primarily serves small, dispersed AI-focused teams, especially in regions with limited access to international financial services.
