5 companies in Croatia on Financial Times ranking of fastest-growing in Europe

5 companies in Croatia on Financial Times ranking of fastest-growing in Europe

Five Croatian companies have made the seventh annual Financial Times 1000 ranking of the fastest-growing in Europe, which was released on Wednesday. 

The FT1000: Europe’s Fastest Growing Companies 2023, which was compiled with data provider Statista, was topped by UK-based mobile games maker Tripledot Studio which had a Compound Annual Growth Rate (CAGR) of 794.7 per cent.

Making this year’s list were five companies in Croatia

The highest ranked company in Croatia on the FT 1000 was Zagreb-based startup Aircash at no. 13 with a CAGR of 295.7 per cent in 2021. 

According to data from FT, Aircash, which was founded in 2015, had revenues of just over 12.1 million euros in 2021. Aircash is the first Croatian multi-currency cash wallet and issuer of the Aircash Mastercard prepaid card. They can transfer money to Croatia from all over the world and where there are no ATMs.

IT and software company Devōt was the next best ranked at no.86 with a CAGR of 155.8 per cent.

Another Zagreb-based IT firm, Syntio, was next at no.551 with a CAGR of 57.4 per cent.

Zagreb-based customer service outsourcing firm Heloo was no.712 on the list and SysKit, a software development company also based in the Croatian capital, made the list at no.771. 

This year’s ranking was again dominated by IT & software groups, with only seven companies in the leisure and entertainment category making the ranking.

UK Insure-tech firm Marshmallow was second behind Tripledot Studio and lithium battery maker WeCo from Italy was in third place.

You can see the list here.