The Estonian company LEI Register is the world’s largest registration agent for LEI codes — identifiers required for companies to conduct transactions on financial markets. Nearly 25% of all new LEI codes globally are registered through the company.

The company, which is placed in the top five in the Exporter of the Year category at the Estonian Entrepreneurship Awards, has nearly 330,000 customers from 180 countries today. It is currently the market leader in India, the Baltics, Hungary, Belgium, Bulgaria, Malta, and New Zealand.

“We plan to expand further into Central Asia and South America, where the market is currently small and competition is low. This creates an opportunity to position ourselves early as a leading service provider and be ready when growth in these regions accelerates.”
Sten Konsberg, CFO of LEI Register

While some markets are directly served from Estonia, others — such as India, Denmark, and Spain — are managed through subsidiaries that are either acquired or established to ensure convenience, trust, and speed in those regions.

LEI code within hours, not days

“We plan to expand further into Central Asia and South America, where the market is currently small and competition is low,” said the company´s CFO Sten Konsberg, outlining the company’s near-term plans. “This creates an opportunity to position ourselves early as a leading service provider and be ready when growth in these regions accelerates,” he added.

What is an LEI code?
The LEI code is a 20-digit alphanumeric combination. The code contains information that increases transparency when participating in financial transactions. These transactions can include trading in stocks, bonds or currencies.

LEI Register’s clients range from sole proprietors to small and large companies, financial institutions, and asset managers overseeing one or more funds. Among its notable clients are Tesla, DNB Asset Management, banks such as Santander, Swedbank, and LHV, the state of Ohio (USA), Oanda, Edelweiss ARC, and others.

“The most challenging has been working with large banks and institutional clients, where forming partnerships is complicated by extensive internal regulations and complex compliance processes that can take years,” Konsberg explained. Nevertheless, he emphasised that these clients are the most important for the company.

AI accelerates growth

Last year, €12.1 million of the company’s €12.6 million revenue came from exports. According to Konsberg, the company’s competitive advantage lies in the service’s speed, simplicity and user-friendliness. This means that while obtaining an LEI code used to take days and involve complex bureaucracy, with the LEI Register service, the code can be obtained in less than an hour.

“The most challenging has been working with large banks and institutional clients, where forming partnerships is complicated by extensive internal regulations and complex compliance processes that can take years.”
Sten Konsberg, CFO of LEI Register

One key factor behind the service’s speed and convenience — and the company’s growth — is its smart use of technology. A small but capable IT team of 24 employees operates in the Tallinn office to efficiently serve thousands of clients around the world. The team has implemented various AI solutions to streamline processes.

GOOD TO KNOW

LEI data is publicly available and free of charge. It allows companies to be easily identified and thus increases transparency in the global market. The LEI code shows the legal name of the company; the register where the company is registered; registration number; jurisdiction; legal form; company status and contact details, such as the company’s legal and head office address.

FACTS

LEI Register

• Founded: 2018
• Employees: 24
• Revenue (2024): €12.6 million
• Export Revenue (2024): €12.1 million
• Export Markets: Estonia, Latvia, Lithuania, Sweden, Finland, Norway, Denmark, Iceland, Germany, Italy, Portugal, United Kingdom, Hungary, Belgium, Bulgaria, Romania, Malta, New Zealand, India
• www.leiregister.ee

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