German and UK companies accounted for nearly half of the European businesses that enjoyed the fastest sales growth over the period 2012 to 2015, reports the Financial Times.
The business daily and market research firm Statista, have jointly compiled the inaugural FT1000 list, ranking 1,000 fast-growing companies across 24 European Union (EU) countries.
Seventy-eight of the 1,000 companies with the strongest sales growth over the three-year period are located in London, with 45 in Paris, 34 in Milan and 32 in Berlin.
Companies from Germany and the UK jointly accounted for a combined 47% of businesses in the top 1,000, with Italian companies contributing 19%, France 14% and Spain 10%.
The FT1000 ranking also displays the number of jobs created and is weighted in favour of companies that grew organically rather than by acquiring rivals.
The FT notes that the rankings show London merging as Europe’s capital for fast-growing companies and highlighting its importance as a hub for innovation and commerce in the EU, even as the UK prepares to give up its membership following the vote for Brexit last June.
The two fastest-growing companies heading the listing are Germany’s HelloFresh, a food delivery business headquartered in Berlin; and Poland’s Codewise, a technology company based in Krakow, which both increased revenues by more than 13,000% over the three-year period to 2015. Each was founded in 2011, while the average company in the list started in 2004.
Even the companies at the bottom of the ranking managed a still impressive 57% sales growth over the three years.
Treasurers are more interested in cross-border payments and automation than real-time payments, as they are consistently asked to do more with less, argues Rick Burke, head of corporate payments at TD Bank in an exclusive interview.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.