Four peer to peer lending platforms were recently ranked among the United Kingdom’s fastest-growing tech firms.
Big Four auditing company Deloitte’s UK Fast 50 list ranks tech companies based on their overall revenue growth over the last 4 years.
As stated on the accounting firm’s official website:
“The Deloitte Technology Fast 50 [aims to be one] of the UK’s foremost technology awards programs, celebrating innovation and entrepreneurship. Now in its 23rd … year, it is an opportunity for your company to get the recognition it deserves.”
The highest-ranking P2P lending platform on Deloitte’s list was Lendable, at number 17. It’s followed by CrowdProperty at number 41. Meanwhile, LendingCrowd and Lending Works have been ranked at the 49th and 50th places, respectively (in terms of overall growth).
CrowdProperty was also recognized as the fastest-growing tech firm in the Midlands, after recording over 1,000% revenue growth over the past 4 years.
CrowdProperty CEO Mike Bristow noted the company’s strategic location in Birmingham offers access to a diverse talent pool and more affordable fixed costs than when operating the business from London. Bristow claims that the lender has been able to secure a substantial amount of institutional money.
He added:
“These diverse sources of capital will allow us to scale rapidly. There are no limits on how big we could get.”
Landbay, which previously offered P2P lending services, has also made it on Deloitte’s list as notably the sixth-fastest growing tech company in the UK.
Some of the notable Fintechs on Deloitte’s list include DivideBuy (a credit retail provider) at the number 1 spot. It recorded over 20,000% growth during the past 4 years.
Prominent digital bank Revolut was ranked number 4 with an impressive growth rate of over 10,500%. Moneybox, which offers cash savings and long-term investment products, came in at number 7 with over 5,000% revenue growth.
Yoyo wallet, OakNorth, Divido, and ComplyAdvantage are some of the other Fintechs that made it on Deloitte’s list of fast-growing technology companies.