Yazen Leads Sifted 100 with 791.63% Revenue Growth

Weight-loss platform Yazen has achieved remarkable success by topping the inaugural Sifted 100: Nordics and Benelux leaderboard. This ranking identifies the 100 startups with the strongest revenue growth in these regions over the past three financial years. Yazen, based in Malmö, provides guidance for individuals using weight-loss medications, including the popular drug Ozempic. The company reported an impressive 791.63% compound annual growth rate (CAGR) in revenue between 2022 and 2024.

Founded in 2021, Yazen offers users access to a team of medical professionals such as doctors, dieticians, and psychologists, specifically for those utilizing obesity medications. The platform has rapidly gained traction, now boasting 35,000 users across seven European countries.

Fredrik Meurling, cofounder and CEO of Yazen, noted that the increasing popularity of Ozempic was a significant factor in the company’s success. “But medication by itself won’t do the whole thing. You shouldn’t just eat less, you should eat the right things,” he emphasized.

While Meurling acknowledges the potential of telehealth innovations, he does not foresee the immediate replacement of doctors by artificial intelligence. He stated, “We don’t envisage an AI doctor coming along any time soon. The margin of error in health is extremely low.”

Competition Among Top Startups

Following Yazen on the Sifted 100 leaderboard is Narvi Payments, a Helsinki-based company specializing in business banking, which achieved a 570.82% CAGR. In third place is Flower, a Stockholm-based firm backed by Northzone, which has reported a 528.31% growth rate and claims to hold Sweden’s largest portfolio of battery systems for electricity storage.

Other notable companies in the ranking include the Amsterdam hotel software unicorn Mews at 91st place and Europe’s leading quantum technology firm IQM in 16th place.

The leaderboard reflects a strong performance from Swedish startups, which occupy 51 of the total spots and five of the top ten. Denmark follows with 13 companies represented. Business-focused software startups dominate the ranking, comprising over a quarter of the list at 27%. Fintech and climate tech sectors also feature prominently, with 23 startups each.

Despite the impressive growth figures, only 14 of the 100 companies listed are currently profitable.

Investor Landscape and Growth Criteria

The report highlights key investors in these thriving startups, with EIT, the European Innovation Council, Luminar Ventures, and Findec recognized as the most active backers within the top 100.

To qualify for inclusion in the Sifted 100, startups had to meet specific criteria. Eligible companies must be private and independent, headquartered in Belgium, Denmark, Finland, Iceland, Luxembourg, Netherlands, Norway, or Sweden. They should generate a majority of their revenue from proprietary technology, have been founded no earlier than 2010, and possess at least three years of revenue data. The minimum revenue thresholds included generating at least €50,000 in the base year and €500,000 in the latest financial year.

For those interested in a deeper dive, a report featuring interviews with the top startups is available, shedding light on the dynamics driving their growth.

As the startup landscape evolves, Yazen’s success underscores the growing intersection of healthcare and technology, particularly in addressing pressing health issues such as obesity.