Portugal continues to shine on the European entrepreneurial stage, with four startups making it to the prestigious Sifted 250 list of Europe’s fastest-growing companies. The list, curated by Sifted, highlights 250 startups with the highest percentage revenue growth over the past three years, based on a two-year compound annual growth rate (CAGR).
Collectively, the startups on the list generated €6.86 billion in revenue over the past three years and employ more than 25,000 people across Europe. On average, these companies have raised €70.67 million in funding.
To qualify for the Sifted 250, startups must meet strict criteria, including being headquartered in Europe, having fewer than 999 employees, and generating a majority of their revenue from proprietary technology. They must also have demonstrated consistent revenue growth over the last three years.
The Portuguese Contenders
- Coverflex – Ranked 37th
Based in Braga, Coverflex is a fintech and HR tech startup revolutionizing employee benefits management. Since its launch in 2021, the company has raised €20 million, including a €15 million Series A funding round in 2023 led by SCOR Ventures. Prominent business angels like Remote CEO Job van der Voort also participated in the round.
- Equalfood – Ranked 64th
Equalfood, a Lisbon-based foodtech startup, focuses on sustainable food solutions. The company reported €1.8 million in revenue for the financial year ending December 2023, positioning itself as a leader in the consumer foodtech sector.
- Bridge In – Ranked 104th
Bridge In, a Lisbon-based SaaS and HR tech startup, achieved €4.9 million in revenue in 2023. The company specializes in providing innovative B2B solutions, supporting its rapid growth.
- Knockcare – Ranked 208th
Healthtech startup Knockcare, headquartered in Matosinhos, recorded €4.95 million in revenue for the 2023 financial year. In November 2021, the company raised €4.4 million in funding from investors including Armilar Venture Partners, Mustard Seed, and MAZE.
