It might be everyoneâs dream to move to Portugal. Beautiful beaches, amazing food, and weather. Its vibrant startup scene is now another reason to add to the list. Like in neighboring Spain, the country was hit hard with a headache-inducing unemployment rate that was concentrated primarily on Portugalâs youth.
Instead of plunging the country into a deeper recession, this moment inspired an entrepreneurial zeitgeist that hurled Portugal headfirst into a technological renaissance. The government is taking this opportunity and running with it, offering benefits to startups like a â¬200 million venture capital matching fund open to all startups headquartered in Portugal and the StartUP voucher which gives 400 entrepreneurs a grant every year to develop their startup idea.
The international tech scene has already caught on to the countryâs potential with a number of startups relocating or opening secondary offices there. Perhaps the most well-known relocation was the annual Web Summitâs move from Dublin to Lisbon in 2016. These transplants will only add to Portugalâs now unstoppable startup ecosystem.
Selecting the hottest young scale-ups from Europe
Together withÂ AdyenÂ we set out to search for the hottest young scale-ups based on their performance, growth, and potential. The top-5 of each country will joinÂ theÂ Tech5, a community of the hottest young tech companies in Europe and Israel.
Today we highlight Portugal. We did our research, consulted with our advisory consortium of 100 investors, influencers, entrepreneurs and experts across Europe and selected the five hottest young Portuguese scale-ups. TheseÂ companies are selected to join the Tech5 and come together at the exclusiveÂ Founders DayÂ (May 8) andÂ TNW ConferenceÂ (May 9-10) in Amsterdam.
The hottest young scale-ups from Portugal:
Remember those days when shopping involved a cut-throat fight over who would go home with the last clearance sale leather jacket? If like me, you now stick to shopping online, with over 50 fashion brands as clients, you most likely have Huub to thank. Huub is a logistics + tech platform for fashion brands that aims to integrate the full supply chain process in one place to simplify and optimize operations: from production to customer service. The platform supports all sales channels and makes use of artificial intelligence, machine learning, and data to boost business growth through better decision-making. Their team keeps hiring and they expect to double from 40+ in 2018 to 80+ at the end of 2019. Theyâve experienced an amazing 110% growth in revenue with a current MRR of 150k and plan to scale their growth to 400% this year.
Zaask connects service providers to people/businesses who need them: a language teacher, a gardener, a wedding planner, a super recommended dog walker or an experienced web designer. As the leading service hiring platform in Portugal and Spain, Zaask will help you find the profile of a professional or company whoâs ready to get the job done. Through the platform you can get quotes and compare them based on ratings and prices, ultimately finding the right person or business to fulfill your every need. The company has more than 460,000 users per month and almost 100,000 registered professional service providers.
Landing.jobs is on a mission to help recruiters and tech talent find each other according to skills, requirements, and company culture. Theyâre not an agency, but a candidate-driven marketplace that helps candidates advance their careers, their challenge is to change the way careers are ultimately planned and executed. For employers, Landing.jobs promotes posted job openings, allows HR to track candidateâs applications and also gives advice on how to land a successful hire. With offices in Lisbon, Porto, and Barcelona, their revenue growth has doubled every year since theyâve started. With the country now recovering from the recent unemployment crisis, this platform is here to ensure tech talent will have job opportunities now and in the future.
Unbabel gives your customer service team multilingual superpowers at speed, without compromising translation quality. Itâs a very handy subscription-based translation service for scaling businesses internationally, offers 28 language combinations, can be integrated with Zendesk, Salesforce, Freshdesk and thereâs also a service for video subtitling and translation. They charge per content type and volume and have been recognized as one of Y Combinatorâs fastest-growing seed companies. Unbabel also recently closed a Series B funding round of $23 million. The 150+ team works from Lisbon, San Francisco, New York, and London.
YouClap has created an app that allows you to send virtual challenges to friends. Recipients can then either accept your virtual challenge or simply leave a small âclapâ. The cool thing is that you can even send a challenge to your favorite brands. And they provide the proper tools to interact with these challenges, something thatâs been missing on other social media platforms. Just a week after they launched in May 2018 they reached first place on the Trending Social Apps list of the Google Play Store and fourth place on the App Store. By the end of 2018, they already reached 20k users and were voted by Google as one of 2018âs best-hidden gems on the Brazilian Play Store. Needless to say, they deserve to be on the list representing Portugal this year!
Are you ready to take your company to the next level? Come and meet potential clients, connect with relevant investors, and learn from fellow startups at TNW2019.
ByÂ Andrea NiÃ±o Bonilla and Andrea Hak
This post is brought to you by Tech5.