November the 30th, 2023 – The Croatian companies Aircash and Devot have made it onto Deloitte’s prestigious Top 10 fastest growing enterprises in Central Europe.
As Poslovni Dnevnik/Josipa Ban writes, Devot and Aircash, with respective (and astonishing) revenue growth of 3323% and 2819%, entered the Top 10 of Deloitte’s fastest growing technology companies from Central Europe. Devot was placed in 4th place and Aircash ranked in 7th place.
They were joined on the list of the 50 fastest growing by HiveTech, which was placed 29th with impressive growth of 925%, Luminum ICT, which came in the 31st place with growth of 898%, and Orqa, which, with its growth of 721%, was placed at the 41st position.
Five Croatian companies made the list
In total, five Croatian companies entered the main category, which is called “Technology Fast 50”. One company, Lumen Spei, was placed in the “Companies to Watch” category, where it was placed 7th with growth of 611 percent. In the third, special category, Stars of Positive Influence, which was launched three years ago, as many as three Croatian companies were presented – SeekandHit, Notch and Cinnamon.
“It’s interesting and we’re proud that this year we have two companies ranked in the Top 10. They are the Croatian companies Aircash and Devot, both which also achieved a high ranking on last year’s list. The third Croatian company on the HiveTech list achieved placement in the main category after two years of success in the Companies to Watch category, while Luminum ICT and Orqa achieved their first placement this year,” Deloitte pointed out.
This year, almost 400 companies from sixteen Central European countries applied for Deloitte’s competition, with a total of 24 applications being received from Croatia.
Statistics show that companies from seven countries achieved placement in the main tender, where the most successful are Poland and the Czech Republic with eighteen companies each, Croatia with five, Slovakia with four, Romania with three, and Bulgaria and Serbia each with one placed company.
As for the average growth rate, it is slightly lower than the previous two years and amounts to 1502%. By the way, this growth rate is based on the revenues that the companies achieved between 2019 and 2022, which were marked by the global coronavirus pandemic, the war in Ukraine and significant accompanying geopolitical tensions.
A credible measure of innovation and technological excellence
“The ranking of the 50 fastest growing technology companies is widely recognised as the most important and credible measure of innovation and technological excellence here in Central Europe,” pointed out Natko Sertić, chief tax partner in the CE South region and head of the Fast 50 programme in the Republic of Croatia.