Online banking platform Allica Bank has topped Deloitte鈥檚 UK Technology Fast 50 awards for the second year running, a ranking of the UK鈥檚 50 fastest growing technology companies.
The London-based bank reported a three-year growth rate of 13,411 per cent to the year 2023/24.
The combined revenue of the Fast 50 companies totalled 拢1.93bn in 2023/24, with an average revenue growth of 2,468 per cent over a three-year period.
Deloitte has announced the winners of the which recognise and rank the 50 fastest-growing technology companies in the UK.
It鈥檚 based on average revenue growth over a three-year period, and are sponsored by Citi, Oracle NetSuite and Tipalti.
The 2024 Fast 50 winners have a collective average three-year growth rate of 2,468 per cent, and generated total revenues of 拢1.93bn in 2023/24.
London calling
Almost three quarters (70 per cent) of the 2024 Fast 50 winners hail from London, including four of the top five, as the UK capital remains the hub for technology start-ups and investment in the UK.
Fintech company Allica Bank returns as the overall winner of the Fast 50 awards, having achieved a three-year growth rate of 13,411 per cent to the year 2023/24.
The London-based business, which topped the ranking in 2023 with the competition鈥檚 third largest ever growth rate, specialises in banking for small and medium-sized businesses.
Richard Davies, CEO of Allica Bank said: 鈥淥ur growth is a result of successfully executing our strategy at pace. We see no one else building a full-service replacement for the high street banks for established SMEs – offering a tech driven mix of current accounts, savings and all types of lending 鈥� which gives us a unique position in a segment that makes up a third of the economy.
鈥淭here is no magic secret to our growth 鈥� just a clear strategy and continuous work from our talented team. We are not focused on what others are doing, just on building an excellent business that really delivers on our target customers鈥� needs. If we do that right, we鈥檒l be well positioned for whatever comes next.鈥�
In second place is ZOE, a London-based science and nutrition company specialising in personalised nutrition, with a three-year growth rate of 9,533 per cent.
Jonathan Wolf, co-founder and CEO of ZOE, added: 鈥淲e are delighted to be ranked so highly in the Deloitte Fast 50. This award motivates us to keep innovating and challenging a broken food environment, in our mission to transform the health of millions.鈥�
Regional boost
Outside of London, this year鈥檚 third place winner is Manchester-based UrbanChain with a three-year growth rate of 8,810 per cent.
The energy tech business, which offers peer-to-peer energy exchange services, also claimed both the CleanTech and Women in Leadership awards for 2024, given the commitments of their female-founder and CEO to green technology.
Founder Somayeh Taheri said: 鈥淚t鈥檚 an exciting stage in our growth at UrbanChain. It鈥檚 so exciting to be recognised in this way, and in three categories, too.
鈥淚鈥檓 so proud of our team. We鈥檝e grown fast to over 50 talented, driven people who are committed to the climate, helping solve fuel poverty and shaking up our outdated energy market.鈥�
Other standout performances outside of London include South East-based digital marketing consultancy, Evolution Engineers (10th overall, with a three-year growth rate of 2,975 per cent), and Midlands-based Previsico, a flood forecasting platform (14th overall, with a three-year growth rate of 2,714 per cent).
Scotland-based Utopi, an environmental tech company working with property firms, returns to the top-half of the ranking (18th overall, with a three-year growth rate of 2,156 per cent).
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- Allica Bank
- Zoe
- UrbanChain
- SourceWhale
- Seat Unique
- Zilch
- Secret Food Tours
- Summize
- Ride Tandem
- Evolution Engineers
- com
- Hozah
- Veremark
- Previsico
- PolyAI
- Quorso
- Low 6 Limited
- Utopi
- Ion Ventures
- Yoti
- Hypervolt
- OnHand
- Moneybox
- Carbon Clean
- LendingCrowd
- ANNA
- Yoto
- Juice Ventures
- NayaOne
- Zen Educate
- Zenzero
- Moasure
- Sprift Technologies
- System Loco
- Zopa Bank
- Halo Service Solutions
- ClearBank
- Urban Jungle Insurance
- WeDiscover
- Iplicit
- Wagestream
- Flagstone
- Duel
- Flow Global
- Seatfrog
- bio
- Switchee
- Starling Group
- Plum
- LatentBridge