Feedzai, a data science company that uses real-time, machine based learning to analyze big data and detect fraud for the e-commerce and banking industries has been named as part of this year’s Tech Tour Growth 50.
The list highlights the fastest-growing startups with the potential to be the next ‘unicorn companies’.
Tech Tour evaluated over 175 European private tech companies to identify the next entrepreneurial generation in Europe, companies that have potential to be valued at USD$1 billion or more.
Feedzai is one of this year’s ‘potential unicorns’, alongside companies such as WeTransfer, SoundCloud and DataSift, among others.
The ranking’s selection process is very rigorous: companies must have more than 10 million euros in revenues, over 20 million euros in total funding, be evaluated between 100 million and 1 billion euros, present a high innovation potential, a qualified management team and an exquisite pedigree (quality of backers, advisory board, past awards won and top sector listings).
The selection committee was composed of international venture capital firms, advisers and experts including: Bank of America Merrill Lynch, Accel Partners, Highland Capital Partners Europe, Amadeus Capital Partners, DN Capital and the World Economic Forum.
According to Nuno Sebastião, Feedzai’s co-founder and CEO, “It is validation that great technology can transcend borders and that Lisbon is becoming the Silicon Valley of Europe. As the only potential unicorn from Portugal on this year’s list, we’re very proud to represent the best of what Europe can produce.”
William Stevens, Tech Tour’s Managing Director, commented “The billion dollar “unicorn” successes that grab our attention are just the tip of the iceberg. The Tech Tour Growth 50 puts a spotlight on the rest of Europe’s high-tech, high-growth businesses. Since 2006 the Tech Tour Growth 50 Companies alone have created over 8, 000 high-tech jobs, attracted over $3.5 billion of investment and have an estimated combined valuation of $14.2 billion.
This is a clear demonstration of Europe’s strength, potential and competitiveness in scaling-up tech businesses.”
The composition of the list has changed significantly from 2015 where almost 50% of the companies were defined as ‘B2C eCommerce’. This year that broad category only applies to just over 30% of the companies.
Unsurprisingly Fin Tech companies once again make a strong showing across both B2B and B2C sectors accounting for (like last year) almost 20% of companies. B2B sectors cover manufacturing, software applications, security and the Internet of Things.
Tech Tour 2016 Ranking (companies listed in alphabetic order):
Advanced Manufacturing Control Systems
B2X Care Solutions