Newcastle FinTech tops Deloitte’s UK Technology Fast 50
Posted on November 25, 2020 by Alistair Hardaker
FinTech lender DivideBuy has topped Deloitte’s UK Technology Fast 50 2020 list.
The award programme, based on revenue growth over the last four years, is announced every November.
The Newcastle-under-Lyme based company reported an average three-year growth rate of 20,733% to the year 2019/2020.
It beat out London-based firms such as EnviroTech firm Bulb, photo printing firm Popsa, FinTech Revolut and tech-based ID firm iProov to the top spot.
DivideBuy’s technology platform enables retailers to provide a credit option and capabilities such as an online checkout with real-time credit decisions.
Robert Flowers, CEO of DivideBuy, said: “DivideBuy’s growth is testament to our talented team based here in the North West and has been driven by strategic investment, allowing us to acquire over 500 retailers to-date.
“So, to come first within the UK, and fourth across the EMEA region, is a clear indicator that our solution is exactly what the market needs at this time. Ultimately, this is just the beginning of a long and exciting road ahead.”
Duncan Down, lead partner for the Deloitte UK Technology Fast 50 programme, added: “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.
“Their exceptional success in recent years is a marker of their tenacity, commitment and creativity. I would like to offer my personal congratulations to all of this year’s Fast 50 winners.
“DivideBuy’s three-year growth rate of 20,733% is outstanding, particularly as the business is based outside of the Capital, with its strong network of investors and employees. 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.”