How Patoko and the Albanian Startup Ecosystem Grow Together
Albanian startup Patoko transitioned from a ride-hailing app to a "super app" due to the growth of Albania's startup ecosystem, driven by strategic support and increasing access to funding.
Albania's startup ecosystem is evolving, driven by increased activity from local programs, government initiatives, and a growing entrepreneurial community. Entrepreneurs, like those behind Patoko, are seizing opportunities, using ecosystem support to scale innovative ideas, and reflecting the ecosystem's positive momentum and potential for further growth.
Ethan Mayers first visited Albania in 2022 as a Swiss EP expert on go-to-market strategies, growth management, marketing, and as a mentor for growth-oriented startups. Since then, Ethan has returned to the country several times, supporting different startups and organizations in the Albanian startup ecosystem.
When asked about the progress of the Albanian startup ecosystem he observed during this time, Ethan offered:
The strength of a startup ecosystem can often be gauged by the questions founders ask. Over the past few years of my visits to Albania, I have observed a remarkable increase in the quality and sophistication of these questions. This evolution reflects the growing capability of Albanian entrepreneurs to handle complex scenarios and their increasing confidence as they assert their rightful place on the global stage. The progress is both inspiring and indicative of a thriving, dynamic ecosystem.
This steady growth fueled by local entrepreneurs paints a promising picture for the future.
Jobs, Funding, and a Maturing Ecosystem
According to StartupBlink's Global Startup Ecosystem index report for 2024, Albania is now placed 72 out of 100 countries analyzed, moving up two places from 2023.
The data tracked by the Swiss EP team in Albania confirms this positive trend—the number of jobs created by startup businesses supported by Swiss EP increased from 449 in June 2023 to 508 only a year later. Albanian startups also managed to raise 1,230,000 CHF in the first half of 2024, almost three times more than the amount raised in 2023 (378,000 CHF).
Crucially for the sustained development of the ecosystem, entrepreneurs in different stages of development can find suitable support and mentors to fuel their growth. One perfect example of a startup seizing available opportunities is Patoko.
Patoko's startup journey
Patoko started in mid-2022 as a ride-hailing app concept. Founders Arber and Patrick wanted to improve mobility in the country's capital, Tirana.
Right after the app was launched in January 2023, the buzz started. The founding team quickly realized that the app had more potential than initially anticipated, so they started adding new features, heading toward a "super app". Today, you can order a taxi, pay for your ride by credit card, book cleaning services and get loyalty discounts and benefits from numerous local businesses through the Patoko interface.
Throughout their product’s evolving roadmap, the Patoko team discovered different support programs in the Albanian startup ecosystem. In October 2023, they attended the second Founders Retreat organized by WFNA, BEEZ Games, and AECA with the support of Swiss EP experts Ethan Mayers, Katrin Kisivelg, Helen Vasilevski, Tom Wesselman, Martin Bjergegaard, and Cosmina Popa. Patoko was among the 12 participating teams gathered in the coastal city of Durres. Arber recalls::
The Founders Retreat was invaluable for networking and getting high-quality mentorship. I retain many of the relationships formed there and have managed to leverage the shared knowledge.
In January 2024, the Patoko team joined Uplift, an acceleration program supported by Swiss EP. In the next six months, the team learned, tested, and further improved its business model. Patoko finished the Uplift program as third runner-up, winning a monetary prize.
In the same span of time, Patoko founders participated in the Investment Readiness program started by WFNA and run by another Swiss EP expert, Maria Carolina Romero. In addition to taking part in the extensive course on investment readiness, the team engaged in mentoring sessions with Kamen Bankovski, a Swiss EP expert whose specialty is fundraising.
The hard work paid off and Patoko won three different grants in the first half of 2024. In total, they raised 57,560 CFH of non-equity funds but won’t be stopping their fundraising there. According to Arber, Patoko is just getting started:
We will continue to make inroads in our MaaS offering, which complements our ambition to build Europe's first super app. We want to go regional and transcontinental with our solution and do it fast.
Along this exciting journey, the team acquired substantial experience in fundraising and storytelling. They now have a solid foundation for continuing their journey successfully.
Patoko—a reflection of the maturing of the Albanian startup ecosystem?
Crossing the chasm from a concept to a product that hundreds of customers use daily in less than two years is already a success story. It is doubly meaningful that it occurred in Albania because it paints a realistic picture of the country’s startup ecosystem today.
It showcased the excellence and dedication of local teams in delivering attractive products, as well as the need for tailor-made support and access to funding. No two startups are the same but will often encounter similar hurdles in their respective journeys. This is why Patoko should serve as an excellent role model.
We are committed to working with all the startup ecosystem actors in Albania to bolster the current positive trend. As others follow in Patoko’s footsteps, there will be many more success stories to share in the near future.