Gismart becomes Europe's fastest-growing game developer

Charlie Spargo's picture
by Charlie Spargo

London-based Gismart, a leading developer of entertainment apps and games, has entered the FT 1000 list of Europe's fastest-growing companies at number six, and become the fastest-growing game company.

The fourth Financial Times report was released on March 2nd, and saw the UK's OakNorth come in at pole position in the whole continent, reporting revenue growth of 37,462%. Gismart, which is the second UK entry in the 1,000-strong list, had revenue growth of 8,788%.

Founded in 2013, Gismart currently employs 300 staff across its offices in the UK, Belarus, China, and Ukraine. Originally focusing on music entertainment apps, Gismart has expanded its reach to games and more, and hit revenues of €57.65 million in 2018 - up from €790,000 just three years ago.

Gismart enters the ranking for the first time in the impressive position, coming ahead of names like Sorted Group and Laundryheap.

Gismart CEO and Co-founder, Dmitri Lipnitsky, said: “At Gismart, we always focus on attracting top talent who have a deep understanding of the domain and have a passion for games and entertainment mobile products.

"Despite our rapid growth, we’ve managed to maintain a start-up spirited, open culture, giving each employee a say in the decision-making processes. We look forward to continuing to expand the business by increasing the value of our existing portfolio and bringing new games to the market."

The FT 1000 ranks European companies based on three-year performance, and has run since 2017. It includes companies from across sectors. In 2020, areas like FinTech, gaming and technology are strongly represented, reflecting the nature of the industry right now.

After leaders OakNorth, the top three is completed by the Finnish Wolt Enterprises, and Estonian Bolt Technology.

London has staked its place once again as a hub for growth, being the city with the greatest number of entries on the FT 1000 list. Companies from the UK, Germany, Italy and France make up 70% of the whole list.