Eurora
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Eurora Solutions was an Estonian company founded by Marko Lastik that built an AI and machine-learning-backed compliance platform for cross-border e-commerce. Its software automated customs, tax, and payment processes for merchants and logistics operators: assigning HS codes to products, calculating VAT and duties, and filing electronic customs declarations via API. The company claimed over 200 paying clients worldwide, including large Asian e-commerce players such as JD.com and Yanwen.
02 / Eurora FAILURE REASONS
Failure factors
Eurora lacked enough working capital to meet its obligations, and investors declined to provide further funds.
03 / EVENT HISTORY
Events in the structured record
- Bankruptcy
Eurora Solutions submitted a bankruptcy application on 28 September 2023 after it lacked the funds to meet its obligations.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Raised a $40 million Series A round in April 2022 led by Amsterdam-based Connected Capital, with Change Ventures, Equity United, and founder Marko Lastik participating, after an earlier $3 million round in 2021.
- 02
Applied for bankruptcy at the Harju County Court on September 28, 2023, citing insufficient working capital to cover its obligations.
- 03
The bankruptcy trustee auctioned the company's customs-technology software platform as part of the bankruptcy estate.