Deloitte Technology Fast 50 ranks Canatu as one of the fastest growing companies in Finland


Material company Canatu recently announced that it has been recognised among the fastest growing technology companies in Finland by the Deloitte Technology Fast 50 programme. Technology Fast 50 is the pre-eminent technology awards programme that ranks the fastest growing technology companies – both public and private – in Finland during the past four years, with 2020 being its fifteenth anniversary.

The winners for 2020 were selected based on percentage fiscal year revenue growth during the period from 2016 to 2019.  Canatu had fiscal year revenue growth of 399% during the period of 2016 to 2019, placing Canatu 42nd on the list.

“Growth companies play an integral role in the future and renewal of Finland’s technology sector. We can be really proud of the Finnish technology expertise. We are extremely happy to see a strong line-up of unique technology companies in this year’s Technology Fast 50 list and highlight many global success stories such as Canatu, says Joni Pitkäranta, lead, emerging growth companies, Financial Advisory, Deloitte Oy.

“It is a great honour to be recognised among this fantastic group of Finnish tech companies driving growth and reshaping industries with technology. COVID-19 will accelerate change and create new opportunities for companies that have deep technology expertise, drive to push forward and agility to change and come out of the pandemic as a winner. Innovation leadership is clearly one of the best ways for the Finnish companies to win in the global marketplace. At Canatu, we are ever-more driven by the passion to create innovative new solutions for the new needs of the automotive and semiconductor industries, “says Juha Kokkonen, CEO, Canatu Oy.

Overall, the 2020 Technology Fast 50 list for Finland features winners across multiple industry segments. Growth for individual companies on the list ranged from 364% to 2514%. The fastest growing companies in Finland over the past 4 years were GameRefinery (2514%), Wolt (2395 %) and Dispelix (2120%).

Combining technological innovation, entrepreneurship, and rapid growth, Technology Fast 50 companies span a variety of industry sectors including hardware, software, telecom, semiconductors, life sciences, and emerging areas, such as clean technology. Many of these companies are on the cutting edge and are transforming the way we do business today. Technology Fast 50 Finland is a sub-initiative of the Deloitte Technology Fast 500TM EMEA programme, which provides a ranking of the fastest growing technology companies in Europe, The Middle East, and Africa (EMEA).

In order to be eligible for Technology Fast 50 recognition, companies must develop or own proprietary intellectual property or technology that contribute to a significant portion of the company’s operating revenues, or it manufactures a technology related product, or devotes a significant percentage of operating revenues to research and development of technology, or the company uses unique technology to solve problems. Additionally, companies must have base-year (2016) operating revenues of at least €50 000 and fourth year (2019) operating revenues of at least €1M. Companies must also be in business for a minimum of four years and be headquartered within Finland.

Caption: Canatu is a Finland Technology Fast 50 winner (photo: Canatu/Deloitte)

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