Portugal Recognizes Akurateco for Its High Growth Potential

Akurateco, a pioneering and scalable global payment software vendor founded in Ukraine, is thrilled to announce its recognition by Startup Portugal as “a company with a rapidly scalable business and high growth potential.”

The announcement was followed by the official recognition of the company as a scaleup in Portugal. This milestone reflects Akurateco’s dedication to pushing the boundaries of technology in the financial sector and its commitment to scaling operations within Europe. The recognition comes after the company successfully met all criteria outlined in Law No. 21/2023, dated May 25th, which sets the legal framework for startups and scaleups in Portugal.

Akurateco was one of only three scaleups evaluated and approved under this legislation, while an additional 148 companies were recognized as startups, as detailed by Startup Portugal. This certification confirms that Akurateco meets all legal and regulatory requirements for scaleup status in Portugal. This status is valid for three years from the issuance date of the certified digital document, providing the company with access to a range of benefits and support.

To qualify as a startup in Portugal, a company must be legally incorporated within the country, be less than ten years old, employ fewer than 250 people, and have an annual turnover of less than 50 million euros. Additionally, the company must not have resulted from a demerger or transformation of a large company and must not have a direct or indirect majority shareholding in a large company. Furthermore, companies must either demonstrate high growth potential and innovation, have completed a round of venture capital funding, or have received investment from Banco Português de Fomento or its associated funds.

Joining Portugal’s dynamic startup ecosystem is a significant milestone for Akurateco. According to the Portugal Startup Ecosystem report, the country is home to over two thousand verified startups, employing more than 27,000 people. This figure is 13% above the average number of startup employees per capita in Europe. The ecosystem is notably diverse, with technology-based startups comprising 33%, B2B companies 17%, and FinTech representing 10%.

By becoming a part of Portugal’s vibrant startup community, Akurateco looks forward to contributing to the local innovation landscape and leveraging its expertise in payment solutions to foster growth in the Portuguese market. The company remains committed to advancing the fintech sector in Portugal and supporting the country’s position as a growing hub for technology and innovation.

For more information about Akurateco and its innovative payment solutions, please visit our website.