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The Hottest Startups in Europe Are From These 5 Tiny Countries

Where are Europe’s fastest-growing companies? Cast your eyes north and east.

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BY Jon Fine - 28 Feb 2018

PHOTO CREDIT: Getty Images

If you're looking in Europe's largest countries for the biggest concentrations of driven entrepreneurs, you're doing it wrong. Per capita, the 10 countries with the most Inc. 5000 Europe companies--those on this year's list added more than 311,000 jobs to local economies--were all tiny, and Eastern European or Scandinavian. The same was true last year, when this year's No. 2, Estonia, topped the list; this year's and last year's top five cities all came from those regions as well. All that said: This year, Paris claimed two top 10 businesses--the energy company Forsee Power and the adtech firm Adikteev. Insert joke about which language gave us the word entrepreneur.

Most Inc. 5000 Europe Companies
(cities, per capita)

  1. Reykjavik
  2. Stockholm
  3. Bratislava
  4. Helsinki
  5. Oslo

Most Inc. 5000 Europe Companies
(countries, per capita)

  1. Sweden
  2. Estonia
  3. Norway
  4. Finland
  5. Slovakia

Top 5 Companies

1. SumUp
London (financial services)
2016 revenue: 56M
3-year growth: 14,368%

2. Restel Fast Food
Helsinki (food & beverage)
2016 revenue: 30.3M
3-year growth: 13,601%

3. New Teck Well Service
Nefteyugansk, Russia (energy)
2016 revenue: 48.5M
3-year growth: 11,978%

4. Tamitrip
Majadahonda, Spain (travel)
2016 revenue: 31.7M
3-year growth: 11,309%

5. Maxi Mobility
Madrid (transportation)
2016 revenue: 64.6M
3-year growth: 9,119%

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