UK’s Fastest-Growing FinTech Companies: Deloitte Fast 50 Winner

Deloitte has announced its selection of this year’s 50 fastest-growing technology companies in the UK, naming digital banking unicorn Revolut as the top tech company.

Deloitte’s 2019 UK Technology Fast 50 awards recognize and rank the top 50 tech companies in the UK based on the last four years of revenue data.

Fintech unicorn Revolut emerged as the overall winner, generating an average three-year growth rate of 48,477% to the year 2018/2019 – the fourth-highest growth in the history of Deloitte’s UK Fast 50 competition.

Revolut offers banking services including a prepaid debit card, fee free currency exchange, commission free stock trading, cryptocurrency exchange and peer-to-peer (P2P) payments.

Revolut claims more than 8 million customers with some 600,000 people opening accounts every month. In September, the company announced that it had signed a new deal with Visa, enabling it to expand to another 24 countries.

Revolut has also signed a deal with Mastercard which will be its card issuer when it launches in the US later this year.

In October, Revolut launched in Singapore and announced that it was looking to raise US$1.5 billion and had hired JP Morgan to facilitate this. The fundraise would value Revolut between US$5-10 billion.