The 2020 pandemic produced, according to most experts, the deepest... Read more →
ID Finance, the emerging markets fintech company, has been ranked 84th in the FT 1000 list of Europe’s fastest growing companies and is the second fastest growing fintech in the region.
The Financial Times estimated the company’s growth over three years, from 2014 to 2017. ID Finance’s revenue increased 12 times for this period. The leader of the FT 1000 ranking is UK company Blue Motor Finance (revenue growth 513 times). Food delivery service Deliveroo is in the second place from the UK (157 times growth) while in the third place is the Estonian taxi service Taxify (122 times growth).
In addition to ID Finance, the list includes several well-known fintech industry players: Zopa (UK, 304% growth rate), Instantor (Sweden, 252%), LendInvest (UK, 1042%), iwoca (UK, 817%), Kantox (UK, 482%), Trustly Group (Sweden, 362%). The list of 2019 is dominated by the technology sector, it accounts for 149 companies. The leader of last year – German company Hellofresh – slipped down to 88th in this year’s rating.
“Europe’s growth companies have big challenges ahead, from the potential disruption of Brexit to the end of the era of easy money. But this annual FT 1000 ranking suggests that there are still many routes to increasing revenues at a rapid pace”, reports Financial Times. The media outlet conducted a study in conjunction with the service Statista. The organizers identified thousands of potential companies and invited them to participate. Information has been compiled from reporting company, public sources and databases. To enter the rating, the company’s revenue had to be more than 100,000 euros in 2014 and more than 1.5 million – in 2017.
63 of the thousands of companies are registered in London. However, the most represented country is Germany (230 projects). Many companies also disclosed employee growth figures. The largest increase in staff was Delivery Hero. Over three years, the food tech company has hired nearly 12,000 employees.
ID Finance saw 236% revenue growth in 2018. The company uses machine learning and advanced data science techniques to improve access to competitive financial services. Headquartered in Barcelona, ID Finance has over 400 staff spread across its operations. The company’s founders previously worked in banking including Deutsche bank and Royal Bank of Scotland. ID Finance now has 1.4m registered clients, 20 000 new registered users weekly.