According to Sapo, around 30 percent of the companies in the first ranking made it onto the second. There are 16 Portuguese companies among the 500 fastest growing technology companies in Europe, the Middle East, and Africa (EMEA) region, in accordance with the ranking by Deloitte.

The consultancy drew up the “Fast 500 EMEA” list and concluded that this group of Portuguese start-ups has grown by an average of 810 percent in three years. Around a third (32 percent) of the companies that entered the first edition of the “Fast 50 Portugal” were “promoted” to the international ranking.

“It’s encouraging to see Portuguese companies achieving these results in the Deloitte Technology Fast 500 EMEA 2023. We have 32 percent of companies from the first edition of the Technology Fast 50 Portugal among the 500 in this international ranking”, recognised Pedro Brás da Silva, associate partner at Deloitte Portugal.

In total, the 16 companies featured had an average of 229 employees in 2019 and ended 2022 with 830 workers, an increase of 262 percent.

“The 810 percent average growth of these companies is testimony to the results that can be achieved with innovation, scalable business models, and entrepreneurial capacity. It’s a clear sign that Portugal has the talent to host internationally relevant technology companies”, adds the financial consultant specialising in technology, media, and telecommunications.

The highest-ranked Portuguese company was Sword Health in 34th place. This is followed by Addvolt, which has created an electric plug-in system to produce and store energy in temperature-controlled transport lorries (97th position). The national podium is completed by Knok, linked to telemedicine (146th place).

Among the rankings of Portuguese companies are Magic Beans (268th), Twistag (334th), Replai (382nd), HiJiffy (413th), The Loop Co. (417th), Code For All (436th), Mediaprobe (439th), StoneShield – Engineering (442nd), Agix – Innovative Engineering (460th), Casafari (465th), Boost: IT (466th), Valuedate.io (485th) and SweetCar (488th).