Company from Serbia Factory World Wide on List of Thousand Fastest Growing Companies in Europe

On this year’s list of the thousand fastest growing companies of the Financial Times and Statista, there is one company from Serbia and Bosnia and Herzegovina each, as well as seven Croatian companies, two of which are in the top 100. The company from Serbia is Factory World Wide from the IT/software sector, and it placed 107th. It was founded in 2015, and in 2022, it had 76 employees. Factory World Wide made it on the list thanks to a compound annual growth rate (CAGR) of 151.5% in the 2019-2022 period. The main criterion for placing on the list which is prepared by the British business daily and the German survey company was a CAGR of at least 36% in the 2019-2022 period.

The company from Bosnia and Herzegovina is Ministry of Programming from the IT/software sector, and it placed 843rd on the list of the thousand fastest growing companies in Europe.

The first place belongs to Raylyst Solar, with the headquarters in Prague, which distributes solar panels and other high-voltage products. Its CAGR was 824%.

It is followed by Adagio, the French provider of advertising technologies, with a CAGR of 583%, and the third spot belongs to the Italian digital advertising agency Bidberry, with a CAGR of 424%.

The Financial Times writes that IT and software groups led the way once again and that, with 188 companies, they are the most represented on the list. They are followed by construction companies (94), e-commerce (78), energy and utility services (69).

In terms of geography, Italy is first, with 309 fast-growing companies, and its biggest competitor is Germany, with 202 companies on the list. The Financial Times says that, judging by that criterion, the Netherlands rose up to the sixth place, and that Belgium made it to the top 10 for the first time.

For the eighth year in a row, London has held on to the tile of the city with the highest number of fast-growing companies, with 69 businesses. It is followed by Milan (44) and Paris (39).

Factory world wide doo Beograd

Ministry of Programming Sarajevo

Adagio

Bidberry

Raylyst Solar

London

Paris

Milan

compound annual growth rate

CAGR

construction companies

e commerce

fast growing companies