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The creator of the list, France Digitale connects start-ups and investors to support entrepreneurship in Europe.
Four Irish start-ups – Fenergo, Teamwork, Tines and Wayflyer – have been listed on France Digitale’s Leading European Tech Scale-ups (LETS) map for 2024.
The LETS map showcases European start-ups with exceptional performance, created by France Digitale and supported by 32 French and European organisations including Scale Ireland.
This year, in LETS’ second iteration, the map includes 251 firms that “stand out as solid partners for their customers and investors alike”, France Digitale said in a statement today (18 September).
Established in 2012, France Digitale is a leading investor association that has connected more than 2,000 start-ups and investors, providing assistance and contacts to entrepreneurs.
The LETS map lists European companies founded after 2000 that make at least €10m in global annual turnover. In order to qualify for the list, the companies also need to make at least €1m outside their domestic market, be based and employ at least half of their workforce in Europe and be an innovative and scaling company.
60pc of this year’s LETS are already profitable and 70pc have a market reach beyond Europe.
LETS in Ireland
Fenergo is a leading fintech that secured $80m from investors including ABN Amro Ventures and DXC Technology back in 2020. The Dublin-based company was founded in 2008 to enable financial institutions to streamline customer service with automation and AI.
“We’re delighted to be recognised for fostering innovation, maintaining a strong European presence and generating significant revenue across multiple markets,” said Fenergo’s chief strategy and marketing officer Stella Clarke.
Founded in 2007, Cork-based Teamwork is a project management SaaS platform that earned $70m in its first funding round in 2021. Teamwork’s platform features a suite of productivity tools focused on tracking and managing projects.
Tines, the no-code automation start-up based in Dublin and Boston recently raised $50m in an extended Series B funding round led by Accel and Felicis. Founded by Eoin Hinchy and Thomas Kinsella in 2018, Tines has been anticipated as one of Europe’s next unicorns and is a previous SiliconRepublic.com Start-up of the Week.
“We are honoured to be recognised alongside such exciting companies, proving that Europe can not only lead in AI development but ensure technology serves society as a whole,” said Tines CEO Hinchy.
And Wayflyer, the e-commerce financing start-up and one of Ireland’s tech unicorns, secured $1bn last year from US investment management firm Neuberger Berman. Founded in 2019 by Jack Pierse and Aidan Corbett, the company provides e-commerce businesses with loans to kick-start their business or improve cash flow in exchange for a share of future profits.
“Scale Ireland is delighted that the LETS 2024 mapping recognises the success and innovation of some of Ireland’s most high-profile scaling companies,” said Scale Ireland CEO Martina Fitzgerald.
“They are global leaders in their sectors, and their inclusion in LETS showcases not only their reach, but also Irish innovation and entrepreneurship throughout Europe, the US and beyond.”
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