- 13 companies from the Czech Republic in the entire European top 50
- This year’s edition again recorded the highest growth figures ever, with an average of 2,351%
- Czechs also have gold in the Companies to Watch category and dominate the CE TOP 5 companies that are poised for decent growth
- new category CE Tech Rocketship has two Czech representatives
- three Impact Stars awards for companies with positive business impact
Prague, November 25, 2022 – Czech fintech startup FTMO is again the winner of the 23rd edition of the Deloitte Technology Fast 50 CE ranking in a competition of nine countries, with Polish deferred payments company PayPo coming in second and Slovak company MultiplexDX, which develops accurate diagnostic tests for identifying and quantifying cancer markers, coming in third. Thirteen Czech companies made it into the top 50 fastest growing technology companies in Central and Southeastern Europe.
The Deloitte Technology Fast 50 CE compares the revenue growth of registered technology companies over the previous four years (from 2018 to 2021). This year, the top 50 CE companies are from Poland (17), the Czech Republic (13), Slovakia (4), Croatia (6), Hungary (3), Bulgaria (2), Lithuania (1), Romania (1) and Serbia (1). In total, 400 companies from 16 countries competed this year.
The revenue of the winning firm, FTMO, a platform for trading on financial markets, grew by 25,255%, while the second-ranked firm, PayPo, grew by 15,904% and the third-ranked MultiplexDX grew by 6,222%. Two other Czech firms are in the top 10 of the CE Fast 50 – IP Fabric, the creator of a platform that ensures the reliability and security of large enterprises’ infostructures (8th place, 2,390%) and Driveto, a provider of flexible operating leases (9th place, 2,131%).
“This year’s winner, FTMO, has almost double the growth numbers compared to the next company in the ranking, and even quadrupled compared to the top three. Overall, we see record growth figures across countries again this year; while 5 years ago, growth of 250% was enough to be in the CE 50, this year it had to be at least 620%. Czech tech companies have also grown noticeably more competitive, but still keep up with Poland, which is three times bigger, in terms of success rate,” adds Kateřina Novotná, Technology FAST 50 program leader for the Czech Republic.
Rising tech stars aka Companies to Watch category
The Czech firm is also at the forefront of Companies to Watch, i.e. companies that have not yet made it to the main competition due to their short time on the market and are therefore assessed on their growth rate over the last three closed financial years. The first place was taken by DIANA Biotechnologies, a Czech biotechnology company engaged in research and development of pharmaceuticals and highly sensitive diagnostic methods. Second is Bulgarian fintech startup Payhawk (6,629%) and in third place is Slovak cryptocurrency investment platform Fumbi Network (6,055% ).
Two more Czech startups also made it into the top five: ShipEx Logistic, a complex logistics platform for delivering shipments around the world, and CityZen, which developed smart T-shirts that don’t show sweat and can resist dirt and smell. In total, nine Czech companies are in this category.
“As a bank with a truly global reach, we can help companies that find themselves in a situation of rapid growth and expansion into foreign markets. We are glad that thanks to the Fast 50 competition we can see how many such companies we have in our region and we can recognize them,” says Munir Nanji, Citi’s Managing Director for the Czech Republic and Central Europe.
New CE Tech Rocketship award
New this year, under the umbrella of Google Cloud partner Google Cloud, awards were given throughout the CE region to companies whose technology (whether products or services) has the greatest potential to scale and succeed. In the first year, the selection was made from nearly two hundred companies in the region. The first prize went to Autenti, a Polish document electronification platform. The joint second and third prizes go to Czech tech firms CYRKL (a digital waste marketplace) and Luther One (an HR technology ecosystem for more effective use of employee potential).
Impact Stars and the complete Czech 50
This year, 149 Czech companies entered the Central European ranking. Thus, it was possible to compile a complete list of fifty exclusively Czech technology stars. Also this year, three awards were given in the Impact Stars category for companies with a unique and innovative product or revolutionary service. Two awards were given by Deloitte and the programme partners to Appis Innovation and snuggswear, while the third award was given to STIMVIA in a poll of Seznam Zprávy readers. Appis Innovation creates innovations for natural and sustainable beekeeping without chemical drugs. Snuggswear produces intimate care products with sustainability in mind. STIMVIA develops a technology platform for the non-invasive treatment of chronic central nervous system diseases through neuromodulation.
“The record number of registered Czech companies shows that the technological and innovative potential in our country is enormous. We can see the great strength of the Czech Republic in the Companies to Watch category, which is dominated by Czech startups and where the average growth is 5,446%. The winning Czech company DIANA Biotechnologies has grown by more than 100,000% in 3 years,” points out Kateřina Novotná.
Although the top 50 fastest growing tech companies in Central Europe are led by those in Software (33 companies), there are also representatives of other sectors: Fintech (5), Hardware (5), Media & Entertainment (4) and Healthcare & Life Sciences (2).This shows that fast-growing tech companies do not always have to be in the IT sector and that there is room for successful use of technology in any industry.
The organizers presented the awards to the companies at the Archa Theatre and the results were also provided by Seznam Zprávy portal through a special broadcast. Partners of the Fast 50 programme for the Czech Republic are Citibank, Livesport, J&T Ventures, impulseventures, ABRA, PSN, StartupJobs.cz, the South Moravian Innovation Centre JIC and CzechInvest. Media partners are Seznam Zprávy and CzechCrunch.
The complete CE rankings can be found on pages 3 – 6 of this report.
For more information and the full results of the 2022 Deloitte CE Technology Fast 50, visit www.deloitte.cz/fast50.
Deloitte CE Technology Fast 50 2022 results:
|1||FTMO||Czech Republic||25 255|
|3||MultiplexDX||Slovak Republic||6 222|
|6||Factory World Wide||Serbia||3 627|
|8||IP Fabric||Czech Republic||2 390|
|9||Driveto||Czech Republic||2 131|
|11||HoppyGo||Czech Republic||2 099|
|15||Bookbot||Czech Republic||1 835|
|19||DEVOT SOLUTIONS||Croatia||1 545|
|20||Composite||Czech Republic||1 484|
|21||Masterlife Solutions||Poland||1 345|
|22||KUSTOMIX MOB||Romania||1 319|
|25||Whalebone||Czech Republic||1 240|
|26||Reas.cz||Czech Republic||1 185|
|29||DoDo Czech||Czech Republic||1 034|
|36||Luigi’s Box||Slovak Republic||914|
|38||Apify Technologies||Czech Republic||830|
|44||GOSPACE Tech||Slovak Republic||714|
|45||UAB inlusion Netforms||Lithuania||696|
|49||TIP IT Solutions||Czech Republic||643|
|50||No Fluff Jobs||Poland||621|
The Czech TOP 50:
|1||FTMO||Czech Republic||25 255|
|2||IP Fabric||Czech Republic||2 390|
|3||Driveto||Czech Republic||2 131|
|4||HoppyGo||Czech Republic||2 099|
|5||Bookbot||Czech Republic||1 835|
|6||Composite||Czech Republic||1 484|
|7||Whalebone||Czech Republic||1 240|
|8||Reas.cz||Czech Republic||1 185|
|9||DoDo Czech||Czech Republic||1 034|
|13||TIP IT Solutions||Czech Republic||643|
|16||Lafluence Platform||Czech Republic||582|
|19||Brighten Digital||Czech Republic||544|
|23||Robot ICT||Czech Republic||356|
|24||Pink elephant||Czech Republic||335|
|25||Behavio Labs||Czech Republic||332|
|28||Wild & Coco||Czech Republic||307|
|33||TechFides Solutions||Czech Republic||223|
|35||WEB Project||Czech Republic||199|
|36||XEVOS Solutions||Czech Republic||177|
|39||Favi online||Czech Republic||160|
|40||Payment institutions Roger||Czech Republic||150|
|44||IDEA StatiCa||Czech Republic||121|
|45||LCG New Media||Czech Republic||121|
|47||Monitor Media||Czech Republic||104|
Category Companies to Watch:
|1||DIANA Biotechnologies||Czech Republic||100 314|
|3||Fumbi Network||Slovak Republic||6 055|
|4||ShipEx Logistic||Czech Republic||4 627|
|5||CityZen||Czech Republic||4 394|
|6||DNA ERA||Slovak Republic||2 021|
|7||Firefly Studio||Croatia||1 227|
|8||CYRKL Source platform||Czech Republic||1 194|
|10||nsure||Czech Republic||1 141|
|11||Finax||Slovak Republic||1 128|
|15||Art Master Academy||Czech Republic||650|
|21||Hojo Tek (Hoyo Tech)||Northern Macedonia||304|
|23||nettle ai||Slovak Republic||254|
|24||I know about everything (stavario)||Czech Republic||235|
Impact Stars category:
More about CE Technology Fast 50
The Deloitte CE technology Fast 50 is a program that recognizes and profiles fast-growing technology companies in the CEE and Baltic region. The program, now in its 23rd year, ranks the 50 fastest growing public or private technology companies. The winners of the Technology Fast 50 for 2022 are selected based on revenue growth over four years (2018 to 2021). Technology companies can apply on their own or be nominated through the program’s website. They must have base operating revenues of EUR 50,000 in 2018, 2019 and 2020 and operating revenues of at least EUR 100,000 in the current year (2021). The company’s headquarters must be located in the CE region. The financial data of the companies are provided by the participants themselves and are collected through an online questionnaire tool. This information is then cross-checked with each company’s financial statements, which have been audited through their accounts or by a registered auditor. A total of 400 companies from 16 countries in the CE region participated in this year’s edition.