Revolut named UK’s fastest-growing technology company

via AltFi

Digital banking app Revolut has been named the UK’s fastest-growing tech company, with an average three-year growth rate of 48,477%.

The figures were published today in Deloitte’s 2019 UK Technology Fast 50 ranking, which calculates the fastest-growing tech companies every year.

Revolut was closely followed by OakNorth (37,449%) and Dividebuy (23,878%) in second and third place respectively.

Fintech overall comprised 30 per cent of the list of 50 winners, including six of the top ten.

“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’s Chief Operating Officer Richard Davies on the news.

“Our challenge now is to make sure the business and structure scales at the same pace, and that we continue to invest in our people and processes.”

Deloitte added that Revolut’s growth-rate is actually the fourth-highest in the history of the Fast 50 ranking.

The results were also overwhelmingly London dominated, with 64% of the overall list coming from the capital, along with 13 of the 15 fintech winners.

“Supported by the presence of large financial institutions, a strong international talent pool, and proximity to potential investors, the capital continues to be the heartland for the country’s leading technology companies,” said Duncan Down, Deloitte’s lead partner for the UK Technology Fast 50 programme.

The full ranking of the Fast 50 can be found here.