What Are Some Of Europe’s Biggest Scale-Ups?

Move over Silicon Valley, Europe’s scale-up economy is not only growing, but absolutely thriving – taking over new markets across the EU and the wider world.

In fact, many startups that were founded in Europe have become household names, disrupting huge industries like AI, HealthTech, SaaS and more.

But what is a scale-up we hear you ask? Well, scale-ups are companies that have moved beyond the startup phase and are now growing to become a big, scalable business.

As Iberdrola puts it, when a startup turns into a scale-up, “the entrepreneur turns into a CEO”.

So, what are some of Europe’s best known scale ups? Let’s take a look…

 

Bolt

 

 

Founded in: Estonia

Valuation: €6.63 billion (Dec 2024)

Bolt initially launched as a ride-hailing app back in 2013, helping people find low cost transport to their destinations.

Now it does everything, from scooters to bikes, food delivery and more in over 50 countries across Europe, Africa, Western Asia, and Latin America.

With fast expansion and a host of new offerings, Bolt is making a name for itself on the global scaleup stage.

 

Klarna

 

 

Founded in: Stockholm

Valuation: $15 billion (estimate)

Klarna came onto the scene in 2005 and completely changed the way people shop online. Offering a “buy now pay later” model – meaning their customers could spread out their payments without having to pay high interest fees.

Today, Klarna is a household name that over 500,000 companies use for customer payments.

 

Vinted

 

 

Founded in: Lithuania

Valuation: €5 billion (Nov 2024)

Vinted has grown into one of the largest online marketplaces for people looking to buy and sell used clothes. The company not only helps connect people to create a more circular economy, it also helps those that are budgeting find great clothing options.

Initially set up to rival to eBay, Vinted has now expanded to over 21 countries and has over 65 million registered users.

 

 

Revolut

 

 

Founded in: UK

Valuation: $45 billion (August 2024)

Revolut is a finance app that has completely taken the fintech world by storm.

Set up as a neobank, Revolut offers banking services with easy-to-use tools that allow users to pay, spend and invest easily, all from their phones.

Since its launch, Revolut has grown massively, and now has 50 million global customers across countries like the UK, USA and Australia.

 

N26

 

 

Founded in: Germany

Valuation: $6 billion (2023)

Founded in Berlin back in 2013, N26 is a digital bank that allows people to manage their finances completely online.

Available across 23 countries in the Single Euro Payments Area (SEPA), the company has a number of offerings and debit cards, as well as business accounts for companies.

It remains as one of the fastest-growing online banks in Europe, employing over 1,500 people and servicing over 8 million customers.

 

Personio

 

 

Founded in: Germany

Valuation: $8.5 billion (2022)

Personio is an all-in-one HR software company, helping SMEs better manage their employees.

The platform makes processes like onboarding, payroll and recruitment services easier, allowing companies to better service their growing teams.

Personio claims to serve over 12,000 businesses across Europe, employing over 1,000,000 people and driving forwards HR services across over 80 countries.

 

Yousign

 

 

Founded in: France

Valuation: Unknown.

If you’ve had to sign a document online, you’ve probably heard of Yousign.

Yousign allows people and businesses to sign documents online in a secure and easy to use way – whilst also ensuring they are legally compliant.

With over 25,000 customers across Europe and growing, the company has changed the way businesses and people sign contracts forever.

 

Voi

 

 

Founded in: Sweden

Valuation: $380m (March 2024)

Founded in 2018, Voi is a leading company in the micro-mobility space.

Founded in Sweden, but now operating across 12 countries, Voi has a fleet of e-scooters and e-bikes for hire – allowing people to navigate cities in a more eco-friendly and easy way.

As more cities across the world rush to adopt green initiatives, Voi is well positioned to continue dominating this space and changing the way that people move around cities.

 

Wayve

 

 

Founded in: UK

Valuation: £4.43 billion (August 2024)

Wayve has become one of the biggest names in autonomous driving, developing self-driving technology that uses deep learning to safely navigate a car.

Backed by Microsoft, Nvidia and Uber, Wayve is changing the way that AI is being used to power self-driving cars and has already partnered with Nissan to fuel its global expansion.

 

Glovo

 

 

Founded in: Spain

Valuation: $2.6 billion (2021)

Glovo is a delivery company that allows people to order and receive food, groceries and pharmaceuticals within minutes.

Launches in 2014, the app has expanded to operate in over 26 countries, including those across Europe, Central Asia, and Africa. With an easy to use interface and over 200,000 merchants signed up, Glovo is expanding quickly across a number of global markets.