Sifted 250: A Snapshot

Collectively, the startups on the list generated €6.86 billion in revenue over the past three years and employ more than 25,000 people across Europe. On average, these companies have raised €70.67 million in funding.

To qualify for the Sifted 250, startups must meet strict criteria, including being headquartered in Europe, having fewer than 999 employees, and generating a majority of their revenue from proprietary technology. They must also have demonstrated consistent revenue growth over the last three years.

The Portuguese Contenders

1. Coverflex – Ranked 37th

Based in Braga, Coverflex is a fintech and HR tech startup revolutionizing employee benefits management. Since its launch in 2021, the company has raised €20 million, including a €15 million Series A funding round in 2023 led by SCOR Ventures. Prominent business angels like Remote CEO Job van der Voort also participated in the round.

2. Equalfood – Ranked 64th

Equalfood, a Lisbon-based foodtech startup, focuses on sustainable food solutions. The company reported €1.8 million in revenue for the financial year ending December 2023, positioning itself as a leader in the consumer foodtech sector.

3. Bridge In – Ranked 104th

Bridge In, a Lisbon-based SaaS and HR tech startup, achieved €4.9 million in revenue in 2023. The company specializes in providing innovative B2B solutions, supporting its rapid growth.

4. Knockcare – Ranked 208th

Healthtech startup Knockcare, headquartered in Matosinhos, recorded €4.95 million in revenue for the 2023 financial year. In November 2021, the company raised €4.4 million in funding from investors including Armilar Venture Partners, Mustard Seed, and MAZE.

Europe’s Top Performers

While Portuguese startups are making waves, the top 10 companies on the Sifted 250 leaderboard include:

• Allica Bank

• kompasbank

• Artios Pharma

• Finn

• Orbem

• Klinate

• Kovalee

• Swan

• Jeff

• Dalma

These companies span diverse sectors, showcasing the dynamic growth of Europe’s startup ecosystem.

For the full Sifted 250 leaderboard and additional details, please visit https://sifted.eu/leaderboards/sifted-250-2024