North West fintech is UK’s fastest growing tech company - with a growth rate of 20,733%
A Newcastle-under-Lyme-based fintech startup has topped Deloitte’s ranking of the UK’s 50 fastest growing technology companies - after recording an average three-year growth rate of 20,733%.
DivideBuy, the interest-free credit provider, employs 50 people and works with more than 500 SMEs to provide consumers with access to interest-free credit.
Other Northern businesses on the list include software providers Blue Prism, which placed 42nd in the ranking with a growth rate of 947%, Matillion, which ranked 43rd with a growth rate of 922%, and Arctic Shores, 45th with a growth rate of 892%.
Fintech businesses make up 24% of the overall Fast 50 winners this year and four of the top 10 businesses. Software remains the leading sector, accounting for 46% of all winners.
Claire Jolly, partner and head of TMT in the North West at Deloitte, said: “The staggering growth of this year’s Fast 50 is testament to the strength of the UK’s technology industry which has continued to prosper in spite of significant market disruption.
“DivideBuy’s three-year growth rate of 20,733% is outstanding. Several lendtech providers have experienced rapid growth in recent years, but DivideBuy’s distinctive brand and intuitive platform have seen them excel ahead of the pack."
Jo Balsamo, chief marketing officer at DivideBuy, added: “This is just the beginning of a long and exciting road ahead. Moving forward, we’re continuing to evolve our checkout, lending process and platform, while adopting a strategy that provides long-term value to our investors."