26 Swedish startups and scaleups with strong, sustainable growth in 2024
A still small, but growing number of Swedish tech startups and scaleups have released their annual reports for 2024. In my daily PRO newsletters I systematically keep track of the most interesting ones, and I also add them to the "Fast Growers" section of my Startup Database.
Below you find a non-exhaustive selection of some of those Swedish tech startups & scaleups that are showing strong growth, while delivering profits, only moderate losses, or at least large relative improvements in result/margins.
List of Abbreviations:
YoY = Year-Over-Year
FY = financial year
SEK = Swedish krona
M = million
- GeoGuessr (Stockholm, online community game where players have to identify locations based on Google Street View imagery, founded 2013)
- 2024 net revenue: SEK310.9M, up 32.5% YoY
- 2024 result after financial items: SEK137.9M, vs SEK118.5M in 2023
- Source: Breakit, the annual report has not been made public yet
- Svensk Fordonsladdning (Rättvik; provider of complete solutions in vehicle charging and energy storage for companies, industry and public environments, founded 2020, public company data)
- 2024 net revenue: SEK173.4M, up 57% YoY
- 2024 result after financial items: SEK33.1M, vs SEK11.6M last year
- Covered in Swedish Tech News PRO with more details on April 15.
- Vermiculus (Stockholm, solutions for exchanges and clearing houses using an AI-based and cloud-native microservice architecture, founded 2020)
- 2024 net revenue: SEK151M, up 56% YoY
- 2024 operating profit: SEK30M, vs SEK12.7M in 2023
- Source: Breakit, the annual report has not been made public yet
- Evify (Stockholm; provider of EV charging solutions for consumers, companies and cooperatives, founded 2018, public company data)
- 2024 net revenue: SEK144.2M, up 47% YoY
- 2024 result after financial items: SEK3.2M, vs SEK0.9M in 2023
- Covered in Swedish Tech News PRO with more details on March 19
- Personalkollen (Umeå; SaaS scheduling, planning and payroll solution for the hospitality and retail industry, founded 2011, public company data)
- 2024 net revenue: SEK74.1M, up 36% YoY
- 2024 result after financial items: SEK28.7M, vs SEK15.6M in 2023
- Covered in Swedish Tech News PRO with more details on January 23.
- Minut (Malmö, camera-less home security solution for short-term rental properties, founded 2014, public company data)
- 2024 net revenue: SEK59.3M, up 31% YoY
- 2024 result after financial items: SEK2M, vs loss of -SEK5.3M in 2023
- Covered in Swedish Tech News PRO with more details on March 5.
- Car.info (Ängelholm, car database, founded 2014, public company data)
- 2024 net revenue: SEK58.7M, up 39% YoY
- 2024 result after financial items: SEK26.4M, vs SEK18.4M in 2023
- Covered in Swedish Tech News PRO with more details on April 3.
- Bizcap (Stockholm; provider of tailored credit solutions to Swedish SMEs, especially when traditional sources of financing are not an option, founded 2021, public company data)
- 2024 net revenue: SEK54M, up 38% YoY
- 2024 result after financial items: SEK24.9M, vs SEK23.8M in 2023
- Covered in Swedish Tech News PRO with more details on May 9.
- snafu (Stockholm, tech-driven provider of funding for artists based on their back catalogs, founded 2018)
- 2024 revenue: SEK45M, up 470% YoY
- 2024 result after financial items: -SEK12.5M, vs -SEK22.5M in 2023
- Source: Breakit, the annual report has not been made public yet.
- Arctic Space Technologies (Piteå, provider of satellite ground segment solutions, founded 2020, public company data)
- FY 2023/2024 net revenue: SEK30.8M, up 70% YoY
- FY 2023/2024 result after financial items: SEK14.5M, vs SEK8.3M during the previous FY.
- Covered in Swedish Tech News PRO with more details on March 12.
- Cloud Family (Gothenburg, solution that automatically decreases AWS costs, founded 2023, public company data)
- 2024 net revenue: SEK26.9M, up 647% YoY
- 2024 result: break-even, as in 2023
- Covered in Swedish Tech News PRO with more details on March 6.
- LaddaTillsammans (Helsingborg; provider of smart EV charging solutions to condominium associations, communities and property companies, founded 2021, public company data)
- 2024 net revenue: SEK26.7M, up 73% YoY
- 2024 result after financial items: SEK0.9M, vs SEK1M last year
- Covered in Swedish Tech News PRO with more details on April 10.
- KanEL (Stockholm, provider of smart energy efficiency services and products for energy storage, founded 2021, public company data)
- 2024 net revenue: SEK21.4M, up 929% YoY
- 2024 result after financial items: -SEK1M, vs SEK1.3M in 2023
- Covered in Swedish Tech News PRO with more details on February 5.
- Herbox (Gothenburg; dispensers with menstrual products for businesses, organizations, and schools, founded 2021)
- 2024 net revenue: around SEK20M, up 2x YoY
- 2024 operating result: SEK2M, vs -SEK1M in 2023
- Source: Breakit, the annual report has not been made public yet
- Chargehome (Stockholm, provider of EV charging stations to end consumers and public charging, founded 2021, public company data)
- 2023 net revenue: SEK14.6M, up 68% YoY (the 2023 annual report was published in February 2025, so I still wanted to include it here)
- 2023 loss: -SEK2M, vs -SEK3.5M in 2022
- Covered in Swedish Tech News PRO with more details on February 4.
- Ensotech (Stockholm, B2B SaaS electricity purchase platform, founded 2016, public company data)
- FY 2023/2024 net revenue: SEK13.8M, up 31% YoY
- FY 2023/2024 result after financial items: SEK2.3M, vs SEK0.8M
- Covered in Swedish Tech News PRO with more details on January 24.
- Embrace Safety (Örebro, digital platform for collaborative crime prevention and security promotion work, founded 2016, public company data)
- 2024 net revenue: SEK12.7M, up 40% YoY
- 2024 result after financial items: SEK4.5M, vs SEK2.3M in 2023
- Covered in Swedish Tech News PRO with more details on March 12.
- Marketmate, formerly Augere (Stockholm, comparison platform for ETP products, founded 2021, public company data)
- 2024 net revenue: SEK11.5M, up 58% YoY
- 2024 result after financial items: SEK2.7M, vs SEK0.5M in 2023
- Covered in Swedish Tech News PRO with more details on March 13.
- Ping Payments (Örebro, go-to payment service for civil society organizations, founded 2017, public company data)
- 2024 net revenue: SEK11M, up 41% YoY
- 2024 result: break-even, vs a loss of -SEK4M in 2023
- Covered in Swedish Tech News PRO with more details on March 28.
- Period Pack (Stockholm, tampon dispenser subscription for companies and organizations, founded 2019)
- 2024 net revenue: around SEK11M, up 175% YoY
- 2024 profit: SEK3M
- Source: Di Digital, the annual report has not been made public yet
- Dignisia (Gothenburg, SaaS solution for credit professionals to optimize their credit and collection lifecycle, founded 2018, public company data)
- 2024 net revenue: SEK10.4M, up 65% YoY
- 2024 result: break-even, vs a loss of -SEK9.7M in 2023
- Covered in Swedish Tech News PRO with more details on March 20.
- WeTal (Stockholm, career marketplace for coders and IT consultants, founded 2019, public company data)
- 2024 net revenue: SEK7M, up 438% YoY
- 2024 profit: SEK0.7M, vs a loss of -SEK0.2M in 2023
- Covered in Swedish Tech News PRO with more details on April 1.
- Venizum (Stockholm, native translation and localisation application in Salesforce, founded 2020, public company data)
- 2024 net revenue: SEK6.8M, up 162% YoY
- 2024 loss: -SEK1.4M, vs -SEK2.2M in 2023
- Covered in Swedish Tech News PRO with more details on April 9.
- Advicy, formerly Netblocks (Stockholm, AI-powered platform helping property owners to manage their buildings in a sustainable way, founded 2021, public company data)
- 2024 net revenue: SEK6.7M, up 49% YoY
- 2024 result: break-even
- Covered in Swedish Tech News PRO with more details on March 25.
- Salus mea (Gothenburg, smart safety alarm solution for people who feel unsafe or limited in their everyday lives, founded 2019, public company data)
- 2024 net revenue: SEK6.2M, up 1140% YoY
- 2024 result after financial items: SEK0.3M, vs -SEK5.8M in 2023
- Covered in Swedish Tech News PRO with more details on April 23.
- Signcast (Stockholm, SaaS provider of digital signage solutions, founded 2018, public company data)
- 2024 net revenue: SEK5.8M, up 93% YoY
- 2024 result after financial items: SEK0.8M, vs -SEK0.5M last year
- Covered in Swedish Tech News PRO with more details on March 19.
NOTE: This is a non-exhaustive selection. Many more companies will report their 2024 numbers during the next months. I will keep track of them, and you can sign up to my PRO subscription, so you don't have to wait until I publish the next post of this type :)