Riddec

History and Founding

Riddec was established in 2012 in Tallinn, Estonia, by David Ajanjan as a venture studio and software development house. The company’s core mission is to invest in, build and launch innovative technology startups across sectors such as Fintech, iGaming, HealthTech and Web3. Over the years, it has delivered more than 100 projects in over 20 countries.

Business Model and Services

Riddec operates three primary service lines. First, venture investment provides capital, sweat equity and consultancy in exchange for equity alignment. Second, venture building develops its own tech projects that are open for co-investment, as well as building bespoke solutions for paying clients. Third, consulting and advisory services ensure successful market entry and sustainable growth. The company’s Skunkworks Assessment Team invites entrepreneurs to pitch ideas and receive rapid feasibility assessments.

Portfolio and Products

Riddec’s portfolio includes award-winning fintech solutions, international gaming platforms and decentralised finance lending protocols. In 2024, the studio launched Riddec Games, a dedicated iGaming provider under the Riddec Venture Studio umbrella, focusing on modern, engaging casino and gaming content for B2B operators.

Leadership

Leadership is co-headed by David Ajanjan (CEO and Founder) and Raul Källo (CEO). Källo is noted for his role in building the Coolbet iGaming platform, which was acquired for a nine-figure sum. The team is relatively small, with an estimated headcount between 11 and 50 employees, but the company leverages a global network of specialists.

Geographical Presence

Riddec operates from three main locations: its registered headquarters at Porto Franco, Laeva 1, 10111 Tallinn, Estonia; an office in Dubai at Burj Al Salam Trade Center First; and an office in Nairobi, Kenya.

Market Position and News

The company has not faced any major public controversies and remains a relatively low-profile but established player in the European venture-building ecosystem. Its primary focus is on high-growth technology verticals where it can provide both capital and deep technical expertise. Riddec has not publicly disclosed funding rounds or revenue, but its Crunchbase profile lists it as an active venture studio.