11 Czech companies ranked among the fastest growing in Europe

Czech companies took 11 spots in the Financial Times’ list of Europe’s 1,000 fastest-growing companies for 2022. No Czech companies, though, made it into the top 100 and only six were in the top 500.

The UK-based economic paper pointed out that these companies were able to navigate difficult times.

The ranking is based on the compound annual growth rate (CAGR) in revenue between 2017 and 2020. A minimum growth of 36.5 percent was needed to make the list.

The top company in Europe was Finland-based Swappie. The company, which refurbishes iPhones and resells them at a lower price, was founded in 2016 and had a CAGR of 477.43 percent. The top company from the previous list, UK energy firm Bulb had an economic collapse and was forced into special administration. 

The top Czech company on the list was Dateio, at 170th place with a CAGR of 108.95 percent. The fintech company, founded in 2013, analyses payment data of bank clients through marketing linked to card usage. Card users can download an app to get cash back from their purchases or other incentives. Businesses using Dateio’s services can get information about the effectiveness of their marketing.

Success Solutions, founded in 2016, was the second Czech firm to make the list, at 196th place with a CAGR of 102.26 percent. The company offers digital HR solutions and consulting. They state that they are the top company for implementing the SAP SuccessFactors, a cloud-based HR solution, on the Czech market. Success Solutions has several custom modules to add to the app so companies can optimize their HR processes.

Transport and logistics company Central Warehouse Solution, which does business under the brand name Skladon, came in 274th with a CAGR of 88.44 percent. The firm handles logistics and storage for e-shops, which can keep track of their stock over an app. Skladon, established in 2015, handles all aspects of shipping, including customs.

Technology firm Life M ranked 292nd with a CAGR of 85.57 percent. The company supplies devices and consumables for biological and medical laboratories in the Czech Republic, Slovakia, and other markets, according to its website.

Ecommerce firm Favi, founded in 2016, brings together furniture and accessories from over 1,000 online stores into one website and shopping app. The company came in 305th place with a CAGR of 83.26.

The final Czech company to make it into the top 500 is Rouvy at 353rd place with a CAGR of 77.10 percent. They provide realistic simulations for people who run and bike at home. People can, for example, experience popular cycling routes around the world from a stationary exercise bike.

There is a substantial gap in the rankings until the next Czech entry, advertising firm Mediaboard at 536th place. It was followed by cybersecurity firm Citadelo at 650th place, technology firm Kentigen at 868th place, personal and household goods firm Borgy Cz at 884th place, and property firm Accolade at 892nd place.

Accolade was the only Czech firm to have previously made the list, appearing in the 2020 ranking at 685th place, but it did not appear in the 2021 list. Only two Czech firms appeared in FT’s 2021 ranking: construction firm Stavební Interierové Systémy and technology firm Denevy.

Of this year's FT ranking, Rouvy and Skladon were the only Czech companies to also make Deloitte's Technology Fast 50 Central Europe rankings for 2021, which was published in January.

Technology companies in Europe accounted for about one-fifth of the companies on FT's list, followed by construction. Retail was third and increased its share to 8.6 percent. By country, the leaders were Italy, with 235 entries, followed by Germany and the UK.