For the second year in a row, Financial Times ranked Estonian ride-hailing company Bolt Technologies the third fastest growing company in Europe, surpassed only by OakNorth Bank, a fintech from UK, and Wolt Enterprises from Finland.
According to Financial Times, companies across the continent face an array of hurdles to growth this year, ranging from a lacklustre economic outlook in several countries to the uncertainties caused by Brexit trade negotiations and risks stemming from the global spread of coronavirus. Yet the ever-greater pace of growth on annual FT 1000 - now in its fourth year - suggests that the most nimble and innovative companies are thriving.
Competition is even tougher at the top this year, writes FT, with companies requiring a minimum growth rate of 38.4 per cent to make the list, compared with 37.7 per cent last year.
Bolt Technologies is guarding the 3rd place for the second year in a row and it is the only one of the top three companies among the 268 on the list to have also appeared on 2019’s ranking. A total of 90 companies out of the 1000 have ranked in three consecutive years.
What is FT 1000?
The FT 1000: Europe’s Fastest Growing Companies is a list of the top 1,000 companies in Europe that have achieved the highest percentage growth in revenues between 2015 and 2018.
The ranking of the FT 1000 was created through a complex procedure. Although the search was very extensive, the ranking does not claim to be complete, as some companies did not want to make their figures public or did not participate for other reasons.
The project was advertised online and in print, allowing all eligible companies to register via the websites created by Statista and the Financial Times. In addition, through research in company databases and other public sources Statista has identified tens of thousands of companies in Europe as potential candidates for the FT 1000 ranking. These companies were invited to participate in the competition by post, email and telephone.
The application phase ran from September 2 2019 to December 31 2019. The submitted revenue figures had to be certified by the CFO, CEO or a member of the executive committee of the company.
See the full article, interactive table and methodology on Financial Times website.