Five fast-growing Nordic scaleups have reached the finals of TECH5 — the “Champions League of Technology.” They join a standout quintet from Benelux, unveiled last week, in the race to be crowned Europe’s hottest scaleup. The Nordics — comprising Denmark, Finland, Iceland, Norway, and Sweden — boast just 27 million people but punch well above their weight in innovation. The region has Europe’s highest density of unicorns — privately held companies valued at over $1bn. Despite accounting for only 4% of Europe’s population, the Nordics hosted 17% of the continent’s unicorns between 2013 and 2023. Sweden leads the pack with the…

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