Firms based in London dominate a new ranking of the 50 fastest growing tech companies in the UK.
Fintech bank Revolut took poll position as the technology firm with the quickest revenue expansion in the index, compiled by audit firm Deloitte.
Revolut racked up an average three-year growth rate of 48,477 per cent to take pole position, ahead of challenger bank Oaknorth and credit provider Dividebuy, which came second and third respectively.
The average revenue growth of all 50 firms was 3,878 per cent over the last three years. Deloitte partner Duncan Down called the figure “nothing short of exceptional” and “testament to the innovation and success enjoyed by the UK’s technology industry”.
The ranking indicates London’s tight grip over the tech and fintech sectors shows no signs of slowing, with two-thirds of the 50 winners based in the capital.
London is consistently named as one of the world’s best cities for fintech firms, and recently took New York’s crown as the top city for fintech investments.
Banking app Revolut has seven million customers, half of whom are in the UK. It operates in 34 countries, and recently announced partnership with Visa.
“We are just in the first stages of expansion, and see phenomenal potential to create a truly global brand in the coming years,” said Revolut chief operating officer Richard Davies.
“Revolut being recognised in these awards highlights just how far we have grown.”
In full: The UK’s 50 fastest-growing tech firms
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