Purpose: The present research aims on the one hand to provide a basic understanding of the challenges that young companies in growth face by discussing previous findings on this topic. On the other hand, this research project wants to generate new insights on specific challenges and possible learning processes by means of a theory-based examination of a case study. Design/Methodology/Approach: The author of this study conducts a theory-based case study investigation. The study is based on two theoretical concepts which depict the phenomenon of challenges faced by young companies in growth in an abstract form: On the one hand, the "Tension-Balancing Management" according to Harald von Korflesch, which expresses the fundamental tension within entrepreneurial organizations, which in turn can be seen as a starting point for actual challenges. On the other hand, the "Tipping Points / Absorbative Capacities" framework by Phelps and colleagues, which links challenges (Tipping Points) that young companies will experience during their lifetime with required capabilities (Absorbative Capacities). Guided by these theories, rich data from interviews, observations and documents from the case are collected and analyzed in order to generate insights. Findings: On the one hand, challenges of young growing companies can be described on a superordinate level with the help of the two theoretical concepts. On the other hand, the analysis also shows that, above all, a fine-grained, individual approach is needed to adequately depict challenges and learning processes. Research Limitations: The main limitation of the present study is the single-case design. The fact that only one specific case was examined means that the insights gained from this cannot be automatically replicated to comparable cases. The simultaneous examination of multiple cases could thus make the results more stable. Originality/Value: The qualitative investigation of growth-related challenges by means of a specific case study creates an in-depth and profound understanding of complex interactions in the growth of young companies. In addition, the assumptions of both theoretical concepts are tested on a real case, thus enabling theoretical and practical implications to be identified.