Six Finnish companies make Financial Times 1000
Financial Times has published its annual 1 000 fastest-growing companies list in Europe, featuring six Finnish companies.
FT’s list measures the highest compound annual growth rate (CAGR) in revenue between 2013 and 2016. The criteria for the list are a revenue of at least 100 000 euros in 2013 and 1.5 million in 2016, independent company status, and headquarters in Europe. The Finns that managed to make the list are Framery (32nd), Localbitcoins (91st), Vastaamo (272nd), Geniem (533rd), Optomed (665th) and Gapps (721st).
The measurement period and related numbers offer a very telling story about Framery’s successful internationalisation, which started in 2010, when engineers Samu Hällfors and Vesa-Matti Marjamäki set out to provide a solution to enable privacy in an open office space. According to FT’s list, the company’s CAGR was 209.8 per cent, its personnel grew from 10 persons to 72 and it racked up 17.6 million in revenue in 2016.
Psychotherapy Center Vastaamo was the only one of the sextet to also feature on FT’s list last year. A family-owned social enterprise, Vastaamo is committed to a return-to-society approach in using a majority of its profits for bettering the accessibility of psychotherapy services.
The company saw a slight increase on last year’s numbers: CAGR reached 84.6 per cent, 124 new employees were hired and it produced a revenue of 5.6 million euros in 2016.
Ville Tapio, founder and CEO of the company, states that Vastaamo wants to distinguish itself as an example that “companies can contribute to bettering societal problems, practice corporate responsibility, be profitable and prosperous at the same time”.
The company serves a total of 750 000 customers annually, both online and in 13 Finnish cities, as of 2018. Vastaamo’s online services increased 233 per cent to 542 000 visits in 2013–2016 and admittances surged 1 198 per cent to 63 000 in their reception facilities.