Xpand IT is a Portuguese company supported by Portuguese investment, and it is extraordinary how quickly we have expanded within Portugal. At the end of 2018, the company realised a growth of 45% and a revenue of around 15 million euros, which led Xpand IT to be distinguished in the Financial Times’ Ranking of 2019 (FT1000: Europe’s Fastest Growing Companies). Xpand IT was one of just three Portuguese technology companies to be featured in this ranking.
However, Xpand IT always seeks to grow further. We want to share our expertise with all four corners of the world and deliver a little bit of our culture to all our customers. It is true that Xpand IT’s international involvement has been increasing substantially, with 46.5% of our revenue coming from international customers at the end of last year.
This growth has been supported by two main focal points: exploring strategic markets such as Germany and the United Kingdom (where we now have a branch and an office), and strong leverage of the product we register. Xray and Xporter, both associated with Atlassian ecosystems, are used by more than 5 thousand customers in more than 90 countries! And new products are expected this year, in both artificial intelligence (Digital Xperience) and business intelligence.
This year, Xpand IT’s internationalisation strategy is to invest in new strategic markets in Europe: namely the Nordic countries. Sweden will be the first country focused on, but the goal is to expand our initiatives to the rest of them: Norway, Denmark and Finland.
There are already various commercial initiatives in this market, and we can count on support from partners such as Microsoft, Hitachi Vantara and Cloudera, all already well-established in countries like Sweden. Moreover, cultural barriers and different time zones do not represent a significant impact, which make this strategy an attractive investment prospect for 2019.
In the words of Paulo Lopes, CEO & Senior Partner at Xpand IT: “We are extremely proud of the growth the company has experienced in recent years and expect this success to keep on going. Xpand IT has been undergoing its internationalisation process for a few years now. However, we are presently entering a 2nd phase, where we will actively invest in new markets where we know that our technological expertise paired with a unique team and unique culture can definitely make a difference. We believe that Sweden makes the right starting point for investment in the Nordic market. Soon we will be able to give you even more good news about this project!…”