Czech republic leads fast 50 growing companies economy in Europe
Czech technology companies have long dominated the region of Central Europe, and this year is no different. According to Deloitte Technology Fast 50 CE ranking, 21 out of the 50 fastest-growing businesses are Czech companies.
This year's top spot in the ranking, which monitors the growth of registered technology companies over the previous four years (2016-2019), went to Packhelp, a Polish manufacturer of custom-made boxes. However, Czech companies took the following three places, including logistics startup DoDo in second place with a growth of 8,427 percent.
UlovDomov.cz, with its application for real-estate rentals, ranked third with growth of 5,535 percent. Last year alone, the platform reported a 64 percent increase in the number of published rental ads and a 40 percent increase in sales.
In fourth place was Favi, a furniture search engine, which experienced growth of 3,389 percent. Moreover, at the beginning of the year, the startup announced plans for a major expansion into other European countries.
Among the top 20 companies are another three from Czechia: online lender Zonky (12th place, 1,347 percent growth), online retailer of original gifts Manboxeo.cz (15th place, 1,279 percent growth), and the cloud experts at Stratox Enterprises (18th place, 1,099 percent growth).
"The results of this year's Fast 50 confirm that technology companies are increasingly successful in the Czech Republic. And local entrepreneurs aren't just sticking to the local or regional market. Many of them are already achieving significant success abroad, including the U. S. market," said Jiří Sauer, Director of the Deloitte Technology Fast 50 CE program.
An interesting feature of this year's ranking is that a total of 66 out of 108 Czech companies that applied received awards in various categories in the Central European region, which comprises nine countries. Ten Czech groups were also awarded in the Rising Stars category. Just like last year, the Czech FTMO fintech company won, followed by the GreyCortex cybersecurity startup.
Deloitte also awarded five Czech companies in the Tech Leaders category and another three in the Impact Stars category for companies offering a unique and innovative product or service.
"The growth of the award-winning companies proves that technology plays and will play a key role in business expansion," added Kateřina Novotná, Deloitte's specialist in technology companies.
Title image: Dodo logistics company vehicles (idodo.cz)
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