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Security report for smartcap.ee

SmartCap · Government · Estonia

Medium risk. 5 critical or high findings in Security headers, SSL/TLS and 1 other check.

Security score

57/100

Risk levelMedium

0–100, higher is better. How it is calculated

SmartCap is a state-owned Estonian fund manager established in 2011, operating under a license from the Estonian Financial Supervision Authority. It focuses on cornerstone investments in venture capital, green technology, and defence sectors to foster innovation and economic growth in Estonia. The company is a subsidiary of Foundation KredEx and targets private fund managers and innovative companies within Estonia. The website reflects a professional and consistent brand image with comprehensive content about its funds and investment focus. Technically, the site is built on WordPress with modern performance optimizations and cookie consent management, ensuring good user experience and compliance with privacy regulations. Security posture is strong with HTTPS and no visible vulnerabilities, though some security headers and policies could be improved. Overall, the website is trustworthy, well-structured, and compliant with GDPR requirements.

Scanned

NIS2 and GDPR posture

GDPR outside view
83/ 100 · Low
Checks completed
7of 7

NIS2 Art. 21(2)

  1. (a) Risk analysis and security policies: Not visible from outside
  2. (b) Incident handling: One indicator
  3. (c) Business continuity, backups and crisis management: Not visible from outside
  4. (d) Supply chain security: Not visible from outside
  5. (e) Secure acquisition, development and maintenance, including vulnerability handling: Partly checked
  6. (f) Assessing the effectiveness of security measures: Not visible from outside
  7. (g) Cyber hygiene and security training: Not visible from outside
  8. (h) Cryptography and encryption: Partly checked
  9. (i) HR security, access control and asset management: One indicator
  10. (j) Multi-factor authentication and secured communications: Not visible from outside

This scan rated NIS2 with an earlier keyword method that is no longer shown; rescan for the per-article view. Risk management, continuity, supply chain, training, MFA, management oversight (Art. 20) and incident reporting (Art. 23) need internal evidence, and Guard cannot tell whether NIS2 applies to this organisation.

GDPR is indicative only, based on publicly visible signals: Articles 7, 12, 13 and 32 of Regulation (EU) 2016/679 and Article 5(3) of the ePrivacy Directive. Not a certification or legal assessment.

Priority findings

5 findings rated critical or high. Fix these first.

  1. Security headers

    Security headers are instructions your web server sends to every visitor’s browser. Missing ones leave visitors more exposed to attacks such as clickjacking and injected scripts.

    • High

      Missing Strict-Transport-Security header

      Forces HTTPS connections

      What to do: Add "Strict-Transport-Security: max-age=31536000; includeSubDomains; preload"

      • CWE-319
      • OWASP A04:2025
      • ASVS V3.4.1
    • High

      Missing X-Frame-Options header

      Prevents clickjacking attacks

      What to do: Add "X-Frame-Options: DENY" or "X-Frame-Options: SAMEORIGIN"

    • High

      Missing Content-Security-Policy header

      Controls resources the browser is allowed to load

      What to do: Implement a Content-Security-Policy appropriate for your application

      • ASVS V3.4.3
      • OWASP Secure Headers: OWASP Secure Headers Project recommends Content-Security-Policy: default-src 'self'; form-action 'self'; base-uri 'self'; object-src 'none';…

  2. SSL/TLS

    TLS encrypts the connection and proves the site is really yours. Weak or expiring certificates trigger browser warnings and put traffic at risk.

    • High

      Weak Protocols Supported

      Server supports weak protocols: TLSv1.1

      What to do: Disable TLS 1.0, TLS 1.1, and all SSL versions

      • CWE-327
      • OWASP A04:2025
      • ASVS V12.1.1

  3. Network security

    Services reachable from the internet are the first thing attackers probe. Anything open that does not need to be should be closed.

    • High

      High-Risk Service Exposed: FTP

      Port 21 (FTP) is publicly accessible - FTP - Often unencrypted file transfer

      What to do: Consider restricting access to FTP or implementing strong authentication

      • NIS2 21(2)(e)
      • IR 2024/2690 6.7.2(f): Implementing Regulation (EU) 2024/2690, Annex point 6.7.2(f): Network security
      • NIST CM-7: NIST SP 800-53 Rev. 5 CM-7: Least Functionality
      • NIST SC-7: NIST SP 800-53 Rev. 5 SC-7: Boundary Protection

Need hands-on remediation? Email guard@offseq.com

Keep watching smartcap.ee

This scan found 25 issues across 6 checks. Monitoring re-runs those checks daily, emails you when something material changes and records each fix, so you can show progress.

Daily monitoring

Recommended

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  • TLS certificates and expiry
  • DNS records
  • SPF, DKIM and DMARC
  • Security headers
  • GDPR and NIS2 posture
  • Exposed services
  • Third-party trackers
  • Security score drift

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Results by check

Each check with its score, findings and the evidence it collected.

How this score is calculated

The security score runs 0–100, higher is better. It is the plain average of the security checks that completed in this scan, each counted equally. A check that could not run is left out: it counts neither as a pass nor as a fail.

Counted in this score

SSL/TLS
72
Security headers
15
Email security
80
DNS health
70
Network security
20
GDPR outside view
83
Average
57

Not counted

  • NIS2 outside view: Re-weights evidence from the TLS, email, DNS, network and hygiene checks, so counting it would count that evidence twice. Shown on its own.
  • OffSeq Observations: An AI reading of the site, useful context but not reproducible evidence. Shown on its own.

Findings that cap the score at 49

Each of these is serious on its own, so while any is present the site cannot rate better than high risk, however good the other checks are.

  • The certificate is not trusted by browsers
  • The website is not served over HTTPS
  • A database, remote desktop, file-sharing or Telnet service is reachable from the internet
  • The page loads a script from a compromised source
  • The domain registration has expired
  • SPF authorises every server to send mail as the domain

Partial scans

When the site blocks Guard or most checks cannot run, the score covers only the checks that ran (usually DNS and email), is capped at 75 and is shown as partial, without a risk level.

Risk levels

  • Critical0–25
  • High26–49
  • Medium50–75
  • Low76–100

Technical appendix

Business context, site observations and technical notes gathered during the scan, and the standards behind each reference.

Business context

Business profile

SmartCap holds a unique market position as a government-backed fund manager supporting Estonia's venture capital ecosystem. Its business model involves investing in private venture capital funds and direct investments in sectors aligned with national strategic goals such as green technology and defence. The company demonstrates growth through recent hires and expanded fund offerings. Its partnership with Foundation KredEx and alignment with Estonia 2035 strategy indicate strong governmental support. The website content and structured data reinforce its credibility and focus on sustainable and security-related innovation. The target audience includes fund managers and innovative startups, with clear investment periods and fund sizes disclosed, supporting transparency and investor confidence.

Security posture

The website employs HTTPS with a valid SSL certificate, uses cookie consent management with granular controls, and avoids exposing sensitive data. No outdated or vulnerable libraries were detected. However, the absence of explicit security headers like Content-Security-Policy and a published security or incident response policy are gaps that could be addressed to enhance security maturity. No vulnerability disclosure or security.txt file is present, limiting external reporting channels. Overall, the security posture is good but could benefit from formalized policies and additional technical controls.

Recommendations

  1. Implement and publish a formal security policy and incident response contact information on the website.
  2. Add security headers such as Content-Security-Policy, X-Content-Type-Options, and Strict-Transport-Security to improve protection against common web attacks.
  3. Create and host a security.txt file to facilitate responsible vulnerability disclosures.
  4. Publish terms of service to clarify legal terms and user obligations.
  5. Continue monitoring and updating third-party libraries and cookie consent mechanisms to maintain compliance and security.

Contact details published on the site

Addresses
Legal name
SmartCap
Site observations

Automated reading of the public site. Ratings are indicative.

Business

Company
SmartCap
Description
SmartCap provides cornerstone investments for private fund managers to create a vital venture capital market in Estonia and enable ambitious and innovative Estonian companies to emerge and grow globally. It operates as a small fund manager established in 2011 under an activity licence issued by the Estonian Financial Supervision Authority and is a subsidiary of Foundation KredEx.
Key services
Venture Capital Fund investments, Green Fund investments, Defence Fund investments, Direct investments in innovative companies
Content quality
excellent
Branding
consistent

Technology

Stack
WordPress, jQuery, Google Tag Manager, CookieYes (cookie consent management), WP Rocket (performance optimization)
Platforms
WordPress
Performance
fast
Mobile
excellent
Accessibility
good
SEO
excellent

Security

Observed score
85/100
Good practices seen
  • HTTPS enforced
  • Cookie consent with granular controls
  • No exposed sensitive data in HTML
  • No vulnerable libraries detected

Analytics and tracking

Services
Google Analytics
Tracking level
minimal
Privacy practices
good

Advertising

Marketing tools
CookieYes
Transparency
good

Site quality

Design
excellent
User experience
excellent
Content relevance
excellent
Navigation
excellent
Professionalism
excellent
Trustworthiness
high

Key observations

  1. Website is professionally designed and well maintained.
  2. Clear focus on investment funds in Estonia with government backing.
  3. Comprehensive cookie consent mechanism implemented.
  4. No visible security or privacy red flags.
  5. No terms of service found, which is a minor gap.
  6. No explicit security or incident response policies published.
Technical notes

Notes

The website is built on WordPress CMS with jQuery and uses WP Rocket for performance optimization. Google Tag Manager and Google Analytics are integrated for tracking, with cookie consent managed by CookieYes. The site is mobile-optimized with responsive design and good accessibility features. Hosting is inferred to be with Zone Media OÜ based on WHOIS name servers. The site loads quickly and uses modern web standards, including structured data (JSON-LD) for SEO enhancement. No technical debt or deprecated technologies were observed. Opportunities exist to enhance security headers and formalize security policies to reduce risk.
Standards and sources

Reference chips under each finding point to the standard, regulation or specification the finding relates to. They are taken from the official datasets below and mapped conservatively: a finding with no defensible link shows none. NIS2 and GDPR references mark where a finding is relevant evidence, not a compliance verdict. Implementing Regulation (EU) 2024/2690 binds digital infrastructure and digital service providers; for other entities it is the most detailed public reading of the Article 21 measures. WCAG, EN 301 549, European Accessibility Act and Web Accessibility Directive references name the requirement an automated accessibility rule relates to; they are not a conformance verdict.

Retrieved 2026-10-25

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