Fintech Emerges As The Fastest Growing Tech Sector: Deloitte’s Report

Fintech Emerges As The Fastest Growing Tech Sector: Deloitte's Report

Deloitte Touche Tohmatsu India LLP (DTTILLP) announced the 50 fastest growing technology companies in the country under its “Technology Fast 50” (Tech Fast 50) India 2020 programme. Conducted by DTTILLP, the programme ranks the fastest growing technology companies in India based on their percentage revenue growth over the past three financial years.

The aggregated revenue of the top 10 companies has gone up from about INR 21 crore to just under INR 400 crore representing a growth of close to 20x in the 2018 to 2020 period.

Interesting statistics about the Top 10 winners:

Fintech emerged as a key sector in this year’s rankings represented by four of the top six winners. The companies have grown a staggering 13x to 70x over the last two years, a testament to the growth Fintech sector has seen in India.

Apart from the Top 10, companies ranked from 11 to 20 also performed extremely well. They have grown by approximately four times in terms of their revenue in the past two years, with an aggregate revenue of more than INR 1,500 crore.

The year has also seen a diverse sectoral representation with several companies across data analytics, digital transformation, digital marketing, and other emerging sectors which are likely to see continued growth over the near term.

While Bengaluru, a key hub for the start-up eco-system, continues to be the most-represented city in our rankings (18 of the top 50 are based in the city), the NCR region is a close second with 12 of the top 50.

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