UK-based leisure and entertainment company Tripledot Studios was the fastest-growing company in Europe between 2018-2020, a report has revealed.
Tripledot Studios, a mobile games developer, came out on top with an annual compound growth rate of 794.7 per cent. The company raised £85m in February 2022 in a round led by 20VC, giving it unicorn status.
It was followed by insurtech company Marshmallow, which recorded a growth rate of 659.8 per cent. The company offers cheaper insurance rates to demographics usually hardest hit by premiums from traditional suppliers, such as young male drivers and those on temporary visas. The company reached unicorn status in September 2021 after raising £61m.
As this includes disruptive periods during the pandemic, there are many businesses in digitalisation industries such as software & IT and fintech which have featured strongly, such as Gift & Go and Lightyear.
London retained its position as the leading city for the fastest growing companies, with 83 companies listed – a huge number compared to the rest of the pack. Paris came second with 34, while Milan contributed 33.
The UK is only the third-highest country when it comes to homes for fast-growth businesses, however, with 155 entrants. This trails Italy’s 260 high-growth companies and Germany’s 217 top performers.
The next annual FT1000 survey will include 2021, which saw record-breaking investment into companies. Equity investment in small UK businesses almost doubled in that year, hitting a record £18.1bn across 2,616 deals.
Here is the list of the UK’s top 20 fastest growing companies. The full FT1000 featuring all European businesses can be viewed here.
|Tripledot Studios||Leisure & Entertainment||794.7|
|Silverstream Technologies||Scientific & Technical||426.4|
|Gift & Go||Software & IT||408.3|
|OnlyFans||Media & Entertainment||317.3|
|Join Talent||Scientific & Technical||301.9|
|Bridewell||IT & Software||260.1|
|Arbolus||Scientific & Technical||245.5|
|Huma||Healthcare & Life Sciences||229.4|
|My Property Host||Hospitality & Travel||184.8|
|Identity||Advertising & Marketing||183.5|
|Xydus||IT & Software||178.2|
|Ziflow||IT & Software||175|