When was Fortumo founded?

Fortumo was founded in 2007 and raised its 1st funding round 5 years after it was founded.

Where is Fortumo located?

Fortumo is headquartered in Tartu, Estonia. It is registered at Basement, 106, Pocket - 52, Chittaranjan Park, South Delhi, New Delhi, Delhi, India, 110019.

Who is the current CEO of Fortumo?

Martin Koppel of Fortumo. They have also founded 1 company.

How many employees does Fortumo have?

As of Jul 01, 2024, the latest employee count at Fortumo is 101.

Is Fortumo a funded company?

Fortumo is a funded company, having raised a total of $***** in its 1st and only funding round, a Series A round on 2012.

How much is Fortumo worth?

The last known valuation of Fortumo was $***** as of Jun 17, 2020.

When was the latest funding round of Fortumo?

Fortumo's latest funding was a $***** Series A round on 2012, with participation from 2 investors.

What is the annual revenue of Fortumo?

Annual revenue of Fortumo is less than ₹10 Cr as on Mar 31, 2026

Where does Fortumo rank among its competitors?

Fortumo ranks 1st amongst 2 active competitors, none of which are funded.

Fortumo - 2026 Company Profile, Team, Funding, Competitors & Financials

Q: Is Fortumo an acquired company?

Fortumo got acquired by Boku on Jun 17, 2020.

Fortumo is an acquired company based in Tartu (Estonia), founded in 2007 by Rain Rannu, Martin Koppel and Veljo Otsason. It operates as a Provider of a mobile payment network connecting merchants to local payment methods. Fortumo has raised $10M in funding from Greycroft and Intel Capital, with last known valuation of $*****.

Company Details

Provider of a mobile payment network connecting merchants to local payment methods. This network facilitates seamless transactions by integrating with various local payment systems. The platform is designed for automatic, repeatable charges and aims to minimize chargebacks through mobile phone-secured authorizations. It offers customized implementations to meet specific enterprise needs, including reverse merchant integrations and bespoke product requirements. The network prioritizes high-performing local payment methods to maximize reach, conversion, and retention for its clients.

Website: fortumo.com
Social
Registered Address: Basement, 106, Pocket - 52, Chittaranjan Park, South Delhi, New Delhi, Delhi, India, 110019

Key Metrics

Founded Year

2007

Location

Tartu, Estonia

Stage

Acquired

Total Funding

$10M in 1 round

Latest Funding Round

Series A, 2012, $*****

Last Known Valuation

$***** as on Jun 17, 2020

Investors

Greycroft & 2 more

Ranked

1^st among 2 active competitors

Annual Revenue

0 - ₹10 Cr as on Mar 31, 2026

Employee Count

101 as on Jul 01, 2024

Similar Companies

QubeCell & 126 more

Exit Details

Acquired by Boku (Jun 17, 2020)

View Fortumo's full profile

Fortumo is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Reports
FORTUMO MOBILE SERVICES PRIVATE LIMITED CIN: U72300DL2014FTC265422 , India, Active	Feb 26, 2014	0 - ₹10 Cr (As on Mar 31, 2026)	-

Fortumo got acquired by Boku on Jun 17, 2020 at an acquisition amount of $*****.

Click here to take a look at Fortumo's acquisition in detail

Fortumo has raised a total funding of $10M over 1 round. Its latest funding round was a Series A round on 2012 for $*****. 2 investors participated in its latest round. Fortumo has 3 institutional investors.

Here is the list of recent funding rounds of Fortumo:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
2012	3696	Series A	8579	6057	6953	9318

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View details of Fortumo's funding rounds and investors

The founders of Fortumo are Rain Rannu, Martin Koppel and Veljo Otsason.

Here are the details of Fortumo's key team members:

Rain Rannu: Co-Founder of Fortumo and founder of 2 other companies, Garage48 and Messente. They are also an angel investor in 1 startup and serve on the board of 1 company.
Martin Koppel: CEO & Co-Founder of Fortumo.
Contact Info: 1 email address
Veljo Otsason: Co-Founder of Fortumo.
Contact Info: 1 email address

View details of Fortumo's Founder profiles and Board Members

Fortumo's employee count trend

Fortumo has 101 employees as of Jul 24. Here is Fortumo's employee count trend over the years:

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Top competitors of Fortumo include Paytailor. Here is the list of Top 10 competitors of Fortumo, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Fortumo 2007, Tartu (Estonia), Acquired	Provider of a mobile payment network connecting merchants to local payment methods	$10M	Greycroft, Superangel & 1 others	48/100
2nd	Paytailor 2014, Tallinn (Estonia), Public	Mobile payment service based on carrier billing.	$75K	-	23/100

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FORTUMO MOBILE SERVICES PRIVATE LIMITED, the legal entity associated with Fortumo, generated less than ₹10 Cr in revenue for the financial year ending on Mar 31, 2026.

Financial Statement Summary

Metrics	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22
Income Statement
Revenue	7240	9319	7441	8889	1313
Total Sales	7395	8860	4909	3177	3676
Total Expenses	2006	3553	1624	9024	5596
Operating Expenses	4870	8613	7172	2745	2523
Employee Expenses	3902	3356	3798	4455	7381
Operating Income (EBIT)	2013	4785	7395	8460	8441
Interest Expenses	9046	2513	9007	6746	8672
Expenses from other activities	8383	7813	2394	9199	1054
EBITDA	2595	7934	4880	7895	6531
Taxes	2166	4400	6150	8340	7501
Net Profit	7735	2020	7977	2995	8739
Balance Sheet
Assets	7161	7986	2513	2596	2310
Accounts Receivables	8531	1040	7935	9925	8967
Inventory	2076	7064	8450	5407	8417
Liabilities	9285	4773	6080	6309	4790
Total Debt	7077	4169	1448	6908	2431
Accounts Payable	6018	1623	6389	4866	6018
Equities	5268	9802	8063	7526	8315