Deloitte’s ranking “recognises the 500 fastest-growing technology companies in Europe, the Middle East, and Africa measured over the past three years,” Executive Digest reports. This year showed 18 Portuguese companies, rising from the previous edition, where 15 Portuguese companies were on the list.

Growth in the software sector

The highest-ranking Portuguese company, coming in on second place, is Bloq.it which specialises in smart locker solutions. The company recorded a growth rate of 12,192.52 percent. In first place is the Swedish company Stunlock Studios AB, and the Swiss company Boost Inc. comes in third.

The 18 Portuguese companies collectively recorded an average growth of over 7,000 percent, with companies being mainly in the software sector.

Competitive national ecosystem

According to Pedro Brás da Silva, partner at Deloitte, "the presence of 18 Portuguese companies in the ranking and the prominent position of Bloq.it among the fastest-growing technology companies in the EMEA region demonstrate the consistency and competitiveness of the national ecosystem."

The official also states that Portugal’s ranking speaks to the country’s capability of generating technology companies “with international ambition, scalable models, and execution capacity.”