Tech Tour recognized seven Finovate alums in its 2016 Tech Tour Growth 50 (TTG50), a roster of the fastest-growing technology companies in Europe. Making this year’s cut were:
- Algomi (FinovateFall 2014)
- Currency Cloud (FinovateEurope 2014)
- eToro (FinovateEurope 2015)
- Feedzai (FinovateEurope 2014)
- Fenergo (FinovateEurope 2012)
- Kreditech (FinovateSpring 2014)
- Tradeshift (FinovateEurope 2012)
Managing Director of The Tech Tour William Stevens said that recognizing these companies was important in a world otherwise focused on “the billion-dollar unicorn successes.” He pointed out that the Tech Tour Growth 50 companies had “created more than 8,000 high-tech jobs, attracted $3.5 billion of investment, and have an estimated combined valuation of $14.2 billion.”
“This is a clear demonstration of Europe’s strength, potential and competitiveness in scaling-up tech businesses,” Stevens said.
A few additional metrics on the companies of the 2016 Tech Tour Growth 50:
- 90%: percent founded in the last 10 years.
- 22 months: the average time from formation to first funding
- 66%: percent with at least one U.S. investor
This year’s list was chosen by a selection committee chaired by Jean-Michel Deligny, managing director of Silverpeak Investment Bank. Serving on the committee were representatives of:
- Accel Partners
- Amadeus Capital Partners
- Bank of America Merrill Lynch
- DN Capital
- Highland Capital Partners Europe
- Idinvest Partners
- The World Economic Forum.
Companies for the TTTG50 were chosen based on “innovation potential, management team, and pedigree,” as well as factors such as sales growth. Candidates were required to have a minimum of €10 million in revenue, €20 million in total funding, and a valuation of at least €100 million but less than €1 billion.
The Tech Tour was founded in 1998 and is based in Geneva, Switzerland.