Article

Deloitte Central Europe announces the 2019 Technology Fast 50 rankings

Botron Software Solutions is the fastest-growing technology company in Bulgaria according to Deloitte Fast 50 report

  • Lithuania’s Voltas IT leads the charge in the main Deloitte 2019 Technology Fast 50 category with 5,734% growth from 2015-2018.
  • Average growth rate of the CE Fast 50 programme is 1,129% (2015-2018).
  •  Nearly three-quarters (74%) of companies in the Deloitte 2019 Technology Fast 50 in Central Europe are first-time entrants.
  • Companies from 9 countries are represented in the main Fast 50 ranking, including Botron Software Solutions Ltd from Bulgaria.
  • The Czech Republic leads the way with 19 entrants, followed by Poland with 11.
  • The top 10 in the ranking includes companies from seven different countries.
  • Software companies again dominate the ranking, providing 31 entrants (2018: 32).
  • The Media & Entertainment sector provides 20% of companies in the ranking.
  • Only two fintech companies are represented this year.

Now in its 20th year, the Central European 2019 Technology Fast 50 Programme is open to companies from Albania, Bulgaria, Bosnia & Herzegovina, Croatia, the Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia and Slovenia.

With 37 companies featuring in the Deloitte Technology Fast 50 in Central Europe for the first time in 2019, it is once again clear that the region is a hotbed for innovative and creative young companies that are shaping the future. Of these, 4 were Rising Stars in 2018 (our special category for fast-growing companies that are not yet mature enough to be included in the Fast 50). This too indicates the good health of the region’s technology sector, as companies that were start-ups just a few years ago make the leap to becoming established high-growth businesses.

The report, which ranks and profiles the 50 fastest-growing tech businesses across the region, identified Lithuania’s Voltas IT as the fastest grower of all with an average growth rate between 2015 and 2018 of 5,734%. Founded five years ago in 2014, Voltas IT has developed an affordable and easy-to-use automotive diagnostics system for drivers to use every day. Its growth continues to be rapid, with 1,000 new users connecting to the system via their smartphones every day.

Second in the ranking is last year’s winner, Prusa Research, s.r.o., from the Czech Republic, with a growth rate of 4,527%. This company is now established as one of the most consistently innovative companies in the global 3D printing industry. During the year, it also founded PrusaLab, an open marketplace and workshop for anybody with an interest in 3D printing.

Third place in the ranking goes to another Czech company, BLINDSPOT, which was founded in 2014 to develop a wide range of solutions using Artificial Intelligence (AI). Today, it has more than 50 specialists delivering customised solutions to client companies across the world in industries including manufacturing, retail, cybersecurity, automotive, fintech and more.

Fourth place was taken by Slovakia’s itrinity, s.r.o., which provides SaaS solutions for online marketers, while Croatia’s Prati, which has launched the consumer-friendly Bazzar online shopping platform.
 

Technology Fast 50 2019 full report

Bulgaria

The Bulgarian finalist in the ranking is the software company Botron Software Solutions, which is ranked 40th in the main Fast 50 category with a growth rate of 503%.
Botron Software is a leading partner in Atlassian eco-system, specializing in developing innovative solutions for Jira Administration. Founded in 2013 by a few Bulgarian software developers, in addition to their "day-to-day" work, today Botron's clients are over 3000 companies, including 5 of Fortune 10 and 55 of Fortune 100 largest businesses in the world. Botron is recognized as the market leader in Jira Admistration, consolidations and migrations of Atlassian servers.

Special categories

Companies up to three years’ old are ineligible for the main Fast 50 ranking. The Rising Stars category exists to mark those younger businesses with such strong growth that they are likely to feature in the Fast 50 in years to come.
All the companies in this category are new to the Rising Stars ranking in 2019. Of the 18 companies in the final listing, seven each are from Poland and the Czech Republic. The first two places are taken by companies serving the fintech sector. The outright winner is FF Trader from the Czech Republic, with a growth rate of 1,465%. The company has developed and launched a unique educational platform for traders in the financial markets, helping clients save money that would otherwise be wasted through uninformed trading decisions.

Slovenia’s Borza terjatev, d.o.o. (The Invoice Exchange) placed second, providing a peer-to-peer finance platform for business that helped it grow by 1,296%. Third place goes to a Slovak business, Shop Support s.r.o., which helps e-shops expand abroad. It grew by 1,121% during the years in question.

The Big 5 category is for fast-growing larger companies whose scale makes it difficult for them to compete in revenue growth with the smaller businesses in the Fast 50. The winner this year is Prusa Research, s.r.o., which also came second in the overall ranking, an exceptional achievement given their size.

Second place goes to Estonian robotics pioneers, Cleveron AS, which was eighth in the main ranking. It grew by 1,799% through offering retailer across the world solutions such as smart lockers, automated parcel lockers, parcel robots and more. Third was the largest player in online food distribution in the Czech Republic, rohlik.cz, 12th in the main ranking. Its 1,166% growth was driven by its fast and efficient ‘delivery to doorstep’ service for online orders.

We introduced the Deloitte Most Disruptive Innovation (MDI) award in 2016 for two main reasons. First, it would identify and reward the businesses with the best chance of evolving into the technology leaders of tomorrow. And second, with their cutting-edge know-how, fresh approach to business, proven experience and proprietary technologies, these businesses can make excellent partners for today’s market leaders.

Of the 100 companies that applied for this year’s MDI award, the one that came is Croatia’s Rimac Autmobili. This company is a true technology powerhouse, manufacturing electric hypercars and providing complete technology solutions to global automotive manufacturers. A veteran of the Fast 50 between 2016 and 2018, Rimac’s launched its latest vehicle during the year.

The Social Impact Award, now in its second year, marks companies that contribute most effectively through their products or services to achieving at least one of the United Nations’ Sustainable Development Goals 2030 (SDGs). This reflects our recognition that investors are increasingly making decisions based not only on profits but also on benefits to society and the environment.

This year’s winner is Poland’s Warsaw Genomics, a genetic-testing company that reads human genes to identify the errors responsible for many diseases. Its proprietary algorithms, the company’s essential innovation, enable it to carry out testing up to 20 times more cheaply than standard techniques, making it financially viable to screen entire populations for cancer risk.

For more information about the Deloitte Central Europe Technology Fast 50 programme and the final ranking, visit www.deloitte.com/fast50ce.

Did you find this useful?