Yazen Achieves Top Spot in Sifted 100 Ranking for Startups

Yazen, a weight loss platform based in Malmö, has secured the top position in the newly launched Sifted 100: Nordics and Benelux. This ranking highlights the 100 startups with the strongest revenue growth in the two regions over the past three financial years. Yazen’s remarkable achievement is underscored by a compound annual growth rate (CAGR) of 791.63% between 2022 and 2024, making it a standout in a competitive landscape spanning nine countries.

Founded in 2021, Yazen provides users with access to a dedicated team of medical professionals, including doctors, dieticians, and psychologists, specifically for those utilizing obesity medications like Ozempic. The platform has attracted 35,000 users and operates across seven European countries, reflecting a growing demand for comprehensive support in weight management.

In a statement, co-founder and CEO Fredrik Meurling highlighted the influence of Ozempic on their business model, noting, “The popularity of Ozempic was definitely one inspiration for us. But medication by itself won’t do the whole thing. You shouldn’t just eat less, you should eat the right things.” Meurling anticipates continued growth in the telehealth sector, although he is cautious about the future role of artificial intelligence in healthcare. “We don’t envisage an AI doctor coming along any time soon. The margin of error in health is extremely low,” he said.

Runner-Up Companies in the Ranking

Following Yazen, Narvi Payments, based in Helsinki, claimed the second spot with a 570.82% CAGR, specializing in business banking solutions. Close behind is Flower, a Stockholm-based company with a 528.31% CAGR, which focuses on providing battery systems for electricity storage. Other notable entrants in the ranking include Mews, an Amsterdam-based hotel software unicorn, and IQM, recognized as Europe’s best-funded quantum computing firm.

The Sifted 100 leaderboard reveals that Swedish startups dominate the scene, with 51 companies featured, including five within the top ten. Denmark follows with 13 companies represented. This growth highlights a broader trend of innovation and funding within these regions, particularly in sectors such as business software, fintech, and climate tech.

Insights on Startup Growth and Investment

Among the top 100 startups, only 14 are currently profitable, indicating a trend where many companies are still in growth mode. The dominance of business-focused software startups is evident, comprising 27% of the total. Both fintech and climate tech categories each account for 23 startups on the leaderboard.

Leading investors contributing to this vibrant ecosystem include the European Innovation Council and Luminar Ventures, among others. The full list of the fastest-growing startups includes:

1. Yazen — 791.63%
2. Narvi Payments — 570.82%
3. Flower — 528.31%
4. Napper — 465.54%
5. Earthbanc — 463.79%
6. Anyday — 444.23%
7. Opti — 443.61%
8. Indó — 431.28%
9. BubblyDoo — 426.23%
10. Lizy — 422.31%

To qualify for the Sifted 100, companies needed to meet specific criteria, including being headquartered in one of the Nordic or Benelux countries and having a majority of revenue generated through proprietary technology. Additionally, companies must have been established within the last 15 years and provided at least three years of revenue data.

This ranking not only showcases the dynamism of startups in the Nordics and Benelux but also reflects the innovative spirit driving the region’s economic growth. The full selection criteria for the top 100 startups can be found on the Sifted website.