Romanian startup Druid, specialized in developing intelligent virtual assistants dedicated to complex enterprise processes, is the technology company with the fastest natural growth in Central Europe (CE) over the last three years, Deloitte said, presenting the results of its 2021 CE Technology Fast 50 ranking.

With a growth rate of 6,753%, Druid ranks first out of 25 startups in the Growth Stars category, which includes the fastest-growing companies between 2018 and 2020. 

No Romanian company is present in the 2021 Technology CE Fast 50 ranking, which looks at companies that have been operating for at least four years. The companies included in the Growth Stars ranking show great potential but are too new to meet the criteria for the main Fast 50 category.

FintechOS, the Romanian startup which develops digital solutions for the financial industry, is also among the fastest-growing companies in CE, and it ranks 16th in the Growth Stars category, with a growth rate of 715%.

Three other Romanian companies, Gama IT, Tapptitude Apps and Wave Studio, were recognized by the Deloitte 2021 CE Technology Fast 50 program with the Impact Star Award, which acknowledges startups for successfully linking products and services with a positive impact on society, business, innovativeness, environment and diversity.

Gama IT specializes in the development and implementation of complex IT solutions in areas such as human health (hospitals, clinics, laboratories), veterinary health and food safety. Tapptitude Apps provides app design and development services for every stage of the mobile project, and Wave Studio focuses on mobile app development and created the first animated keyboard on Google Play.

The winner of the main category of the ranking, which recognizes the fastest-growing technology companies in CE that have been operating for at least four years, is FTMO, a fintech from Czech Republic, with a growing rate of 39,432%, the fastest revenue growth recorded by any company in the entire history of the ranking. The company has developed an educational platform for traders on the financial markets that enables them to focus on risk management and disciplined trading to adopt best practices, avoid errors and reduce waste. 

Kilo.Health, the healthcare and life science business, is second in the overall ranking, with a growth rate of 17,710%. Companies included in the main ranking registered an average growth rate of 2,278%, the highest ever achieved (up from 1,460% in 2020).

This years’ program, now at its 22nd edition, is dominated by software companies (33 entries), followed by hardware (5), media & entertainment (4), fintech (3), healthcare and life sciences (3) and communications (2).

To be considered eligible for the main category of CE Technology Fast 50 ranking, companies had to meet several financial criteria, including having reported a minimum EUR 50,000 annual operating revenue in the first three years (2017-2019) and at least EUR 100,000 in 2020. They also must be headquartered in Central Europe and own proprietary intellectual property or proprietary technology. 

(Photo: Denis Ismagilov/ Dreamstime)

simona@romania-insider.com