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September 27, 2020

Deloitte Fast 500 competition reveals that Revolut is the fastest growing technology company in Europe, the Middle East, and Africa

Revolut is the fastest growing technology company in Europe, the Middle East, and Africa, according to the latest Deloitte EMEA Technology Fast 500 competition. The ranking also includes the Romanian companies Tremend, Piconet, Trencadis and Qualitance, active in fields such as software and fintech, all of them previously recognized by Deloitte’s competition dedicated to technology players with the fastest revenue growth in Central Europe, Technology Fast 50.

“We’re delighted to top the ranking. 12 million people now use Revolut to manage and improve their finances, and our growth reinforces the point that people are looking for alternative ways to manage their money,” said Nik Storonsky, Founder and CEO of Revolut.

The winners of the EMEA Fast 500 edition were selected based on percentage fiscal-year revenue growth from 2015 to 2018, which placed Revolut, the UK-based fintech company founded in 2015, on the leading position, with a 39,754% median revenue growth. The competition features winners from 22 countries, with an average growth rate of 1,258% in 2019. Among the Romanian companies included in the top, Tremend had a 336% average revenue growth, followed by Piconet (209%), Trencadis (167%) and Qualitance (162%).

”The recognition of the Romanian companies reflects the continued evolution of the local technology ecosystem, with most of them working at international level. The performance registered by the local companies is one of the factors which helps to strengthen Romania’s position on the European map in terms of opportunities for startups and technology, in advance of other countries. They deserve congratulations for their effort and consistency,” said Andrei Ionescu (photo), Partner-in-Charge, Management Consulting and Risk Advisory, Deloitte Romania, and Local Leader for Technology Fast 50 Central Europe competition.

The Deloitte EMEA Technology Fast 500 program automatically includes companies that have been previously recognized by the Deloitte CE Fast 50 ranking, for which applications are now open. According to a press release issued by Deloitte, in order to qualify for Fast 50, companies need to have a minimum €50,000 annual operating revenue in the first three years (2016-2018) and at least €100,000 in 2019, be headquartered in Central Europe and own proprietary intellectual property or proprietary technology.

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