Mattress retailer Emma is fastest-growing startup in Europe
Emma, a German retailer that sells mattresses online, is the fastest-growing startup in Europe. Or at least in the countries The Next Web describes as the continent’s six hottest startup ecosystems: the United Kingdom, the Netherlands, Germany, France, Spain and Sweden.
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The number one ranking of Emma as Europe’s fastest-growing startup is the result of research by Adyen and The Next Web. To find out which startup in Europe grows the fastest, the tech blog reached out to hundreds of companies that are identified as fast-growing and asked them to sign up for the Tech 5 competition. All companies that did this were asked to confirm their growth rates by signing an affidavit.
Top 3 of fastest-growing startups
Emma from Germany saw its revenue increase by 14,315 percent, while bitcoin company Luno from the United Kingdom generated a 12,369 percent growth in revenue. In third place is insurance platform Wefox from Germany, with a 12,050 percent growth in revenue.
Many German startups are looking cross-border
Germany secured four spots in the top 10. “This is probably because eight out of ten German startup founders are eyeing global expansion”, The Next Web thinks. “German companies also have great funding with every 50th startup raising more than 50 million euros.”
Roelant Prins, CCO of Adyen, says it’s really exciting to see innovative startups thriving across Europe. “We have seen genuine world-leading companies in this year’s Tech5 competition, proving that Europe is great breeding ground for startups. I’m sure many of the companies in Tech5 will be on to bigger things in the near future.”