Here is the European start-up that grew its business over 100 thousand percent in 3 years

Ovidiu Posirca 25/04/2018 | 10:29

Europe hosts start-ups that recorded an impressive development in the past few years, with technology being the sector that generated most of the high-fliers.

The start-ups with the highest grow rates were tracked by Financial Times, which published the list of 1,000 early stage firms that expanded at an accelerated pace.

According to the list, UK-based Deliveroo the food start-up, grew its revenue by 107,117 percent between 2013 and 2016. Its compounded annual growth rate stood at 923.5 percent in the same period. Its revenue stood at EUR 157 million in 2016, while the number of employees reached close to 1,500.

The company was founded in 2013 by Americans Will Shu and Greg Orlowski. The start-up got USD 859.6 million in funding up to now.

German start-up Thermondo ranks second with a revenue growth of 10,878 percent over the same period to EUR 20.2 million. The energy company offering energy efficiency solutions had 280 employees in 2016.

On the third place there is Spanish start-up Traventia Viajes, specialized in the travel & leisure sector. The company recorded a 9,377 percent increase of its revenue between 2013-2016 to EUR 10.29 million. It had 20 employees at the end of 2016.

Out of the 1,000 fast growing start-ups included in the list, four come from Romania and are active in the technology sector.

Trencadis is ranked 193 with a revenue growth of 710 percent (2013-2016) to EUR 4.3 million, while Tremend is placed on 487 with a revenue expansion of 331 percent to EIUR 3.5 million.

Accesa IT Consulting is ranked 654 with a revenue growth of 243 percent to EUR 3.6 million at the end of 2016, while Qualitance grew its revenue by 217 percent to EUR 6 million.

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