Kirsti Pent

Kirsti Pent

Head of Banking & Finance Practice Group
Tallinn, Estonia

Kirsti is recognised as a leading expert in her field and renowned for her efficiency and ability to offer innovative solutions. She has 16 years of experience specialising in advising various financial institutions on regulatory matters, capital raising and other financing transactions.

Leading Individual 2021 v2. Kirsti Martin Paul Helmut Katri  Ranked In FinTech 2022 Copy  chambers europe 44 v2     iflr 44

  • About

    Partner Kirsti Pent heads the Banking & Finance practice group. 

    Kirsti has long-term experience specialising in advising various financial institutions on regulatory matters (incl obtaining licenses from the Estonian Financial Supervision Authority, answering questions about daily activities as well as during remote and on-site inspections), as well as drafting standard contracts and advising on financing transactions.

  • Major Projects
    • 31.10.2023

      TGS Baltic advised TKM Finants AS in obtaining a creditor's activity license

      We advised TKM Finants AS, a subsidiary of Nasdaq-listed Tallinna Kaubamaja Grupp AS, in applying for a creditor's activity license from the Estonian Financial Supervision Authority and providing consumer credit services.

    • 12.09.2023

      TGS Baltic advised Värska Originaal, the leading mineral water producer in Estonia, on a buyout of its minority shareholders and refinancing of the company

      TGS Baltic acted as a legal adviser to Värska Originaal and its shareholders. Our team advised on negotiating the terms of the transaction in which the client acquired additional shares of Värska Originaal.

    • 21.03.2023

      TGS Baltic advised Operail in respect to restrictive measures applicable to sale of railway wagons

      From December 2023 to March 2023 AS Operail Leasing, a subsidiary of the Estonian state-owned railway company Operail, sold all of its railway wagons. 

    • 15.03.2023

      Crowdestate was the first in Estonia to receive a crowdfunding service provider activity license

      On 3 March, the Estonian Financial Supervision Authority granted Crowdestate AS a crowdfunding service provider activity license, which gives it the right to facilitate the granting of loans and to offer investment-based crowdfunding services. 

    • 06.02.2023

      TGS Baltic advised VOOL on raising 1.7 MEUR investment

      TGS Baltic advised VOOL, a start-up developing a complete electric car charging solution, on raising 1,7 MEUR investment. The investment round included leading Estonian venture capital investors as well as various known angel investors, including the former President of Estonia, Kersti Kaljulaid.

    • 14.08.2022

      TGS Baltic advised Starship Technologies in obtaining EUR 50,000,000 loan from European Investment Bank

      TGS Baltic acted as local Estonian counsel and advised the client on all Estonian law matters, from negotiation and finalisation of the security package for Estonia until closing of the financing.

    • 18.05.2022

      TGS Baltic advised Truffle Capital on leading a 5.5 MEUR investment into insurtech startup Cachet

      Law Firm TGS Baltic advised the European fund Truffle Capital SAS on leading a 5.5 MEUR investment round into startup Cachet, which provides smart insurance solutions. TGS Baltic advised the client during the entire transaction, from legal due diligence of Estonian companies to drafting and negotiating the transaction documents and closing the investment.

    • 27.12.2021

      TGS Baltic was the main legal counsel in EUR 16 000 000 bond issue by ESTO Holdings OÜ

      TGS Baltic was the main legal counsel in the EUR 16 000 000 senior-secured bond issue by ESTO Holdings OÜ, the parent company of ESTO Group, which provides automated financing and payment solutions.

    • 26.11.2021

      TGS Baltic advised Eleving Group concerning a bond issue with the total volume of EUR 150,000,000.

      Eleving Group issued in October 2021 bonds in the amount of EUR 150,000,000, to be listed on the Frankfurt Stock Exchange - one of the largest bond issuances by a private company based in the Baltics.

    • 10.09.2021

      TGS Baltic advised Estateguru on raising series A round investment of EUR 5.8M

      Founded in 2013, Estateguru is the leading Pan-European marketplace that facilitates property-backed loans for developers/SMEs and investment opportunities for their global investor base. 

    • 26.07.2021

      We advised Merko Ehitus Eesti on acquisition of 35% holding in Connecto Eesti

      TGS Baltic advised Merko Ehitus Eesti AS, the largest construction and property development company in Estonia, on the acquisition of a 35% holding in the company Connecto Eesti.

    • 21.06.2021

      The Estonian Financial Supervision Authority granted a payment institution activity licence to Crowdestate

      The activity licence grants Crowdestate the right to execute payment transactions, including transfer funds to a payment account opened with a payment service provider.

    • 05.01.2021

      TGS Baltic assisted investment company De Maria Project in acquisition of Energate

      TGS Baltic assisted investment company De Maria Project in the acquisition of Energate, a natural gas distribution, sales and network development company in Estonia, from a group of private financial investors led by investment company Capital Mill.

  • CV


    Estonian Association of Young Attorneys (member of the board 2013-2017)
    Estonian Bar Association (member of the board 2016-2017)
    ELSA Estonia (alumni)

    Professional career

    Since 2020
    Partner, law firm TGS Baltic
    Partner, law office FORT
    Attorney at Law, law firm Tark Grunte Sutkiene
    Lawyer, law firm Tark Grunte Sutkiene
    Project Manager at the Faculty of Law, University of Tartu
    Internship at the International Organization for Migration, office in Tallinn


    Internship at Law Office Butzel Long, Detroit, USA
    University of Tartu, Faculty of Law, Estonia, MA
    University of Tartu, Institute of Law, Estonia, BA
  • Publications
    • Baltic Topics on Financial Services
    • The Legal Status of Translations of Treaties in the Estonian Legal System and Possible International Responsibility (in Estonian) - Acta Societatis Martensis 2, 2007