Three financial services firms in Deloitte’s Technology Fast 50

Fast speed tunnelThree financial services companies have ranked amongst the winners of the Deloitte UK Technology Fast 50 competition 2014 of fast-growing technology companies in the UK. Monitise, Active Securities and True Potential came 11th, 12th and 33rd, respectively, out of the 50 winners selected as the fastest-growing technology companies in the UK, based on revenue growth over the last five years. They will now be put forward to the Deloitte Technology Fast 500 EMEA (Europe, Middle East and Africa) programme, along with entrants from other national programmes run by Deloitte in the EMEA region. Monitise, a global, mobile money specialist that works with over 350 financial institutions, grew by 2,639% during the five-year period while Active Securities, which provides commercial and consumer credit, grew by 2,613%. Both companies are based in London. True Potential, a Newcastle-based firm that provides technology and business support services to over 22% of the UK adviser market and financial advisory services for private individuals, grew by 837% during the same period. The True Potential group of companies increased turnover to £20.8 million (€26.3 million) in the first half of 2014, a rise of 87% against the £11.1 million made during the same period in 2013. David Frith, corporate finance partner at Deloitte in Newcastle, says: "The Deloitte Technology Fast 50 ... is an opportunity for technology businesses to gain recognition for their successes and achievements and this year's ranking highlights the importance of being innovative and finding a niche product or service to succeed." The programme is sponsored by Fidelity Growth Partners Europe, Silicon Valley Bank and Taylor Wessing. ©2014 funds europe

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