Energy supplier Bulb has become the fastest growing company in Europe according to the Financial Times (FT).
It topped the FT 1000 — Europe’s Fastest Growing Companies 2021, with a compound annual growth rate of 1159.3%.
Since it was founded in 2015, it has seen an absolute growth rate of 199626.7% according to the FT, continuing to grow in the past year despite the challenges created by the COVID-19 pandemic.
Over the last year, half of European companies reported revenue or profit declines given challenges created by COVID-19 noted the FT, with Brexit creating further headwinds for many.
Bulb’s revenue has jumped from £845,225 (€985,867) in 2016, to £1,489,726,504 (€1,737,586,657) in 2019, with its employees also jumping from 55 to 575 during the same period the FT found.
This continued to expand through 2020, including Bulb opening new offices in Brighton in October, a move which created 30 new jobs and brought the total of new jobs created by the supplier since March 2020 to 200.
Now in 2021, the energy supplier has 1.7 million members and more than 1,000 employees. As well as opening its UK based offices, this was aided by the company launching in Texas, US in September following initially setting its sights on international expansion in 2019.
The company is targeting 100 million households around the world by 2030, and has begun expanding its senior leadership team to support that goal, including appointing Paul Ablin as its new chief financial officer.