The Next Web announces the fastest-growing 5 technology startups in Europe

These are the top young tech companies to watch in Europe

25 APRIL 2014, AMSTERDAM, NETHERLANDS

The Next Web and global payments technology provider Adyen have announced the results of Tech5, a competition to identify the fastest-growing startups in Europe. The announcement was made at TNW Europe 2014, the latest installment of the Amsterdam-based technology event that is hosted by The Next Web.

Of the hundreds of companies that entered the competition, Germany-based Run A Shop topped the list, followed by Swedish startups MAG interactive and iZettle. Hailo and Made.com, both from the UK, rounded out the list of must-watch companies in the region.

The Tech5 list was developed based on company revenue, traffic and employee data. Each entrant was ranked by comparing growth rates from between 2011 and 2013.

Here are the five fastest growing young tech companies of Europe (including their growth rates):

1. Run a Shop (DE) - 8357% growth

2. MAG interactive (SE) - 5740% growth

3. iZettle (SE) - 4140% growth

4. Hailo (UK) - 4003% growth

5. Made.com (UK) - 2567% growth

At TNW Europe conference all Tech5 country winners presented their company, the Jury chose MAG interactive as most promising company.

The Next Web is a leading global technology website which covers news, trends and opinions from the tech industry in the US, Europe, Asia and beyond.

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About TECH5

The Tech5 is a pan-European competition to identify the fastest growing tech companies in Europe with its finale at The Next Web Conference in Amsterdam where all country winners present their company and represent their country.

Tech5 is an initiative of TNW and Adyen.