13 UAE-based companies feature in the Deloitte Technology FAST 50 rankings, with Brandripplr coming third. The top ranked company of the second edition of Fast 50 is FinTech company, Capital.com, which exhibited 2,210% growth.
The companies ranked second and third were Jordan based FinTech company, Dinarak, and the UAE-based Media & Entertainment company, Brandripplr, who have showcased 820% and 816% growth respectively.
The average growth of ranked companies is 277%, generating $800 million in total annual revenues during 2021-2022, showcasing the huge potential of the region’s tech sector.
Other companies who had participated in the first edition and have made it to this year’s list are Justlife, Softline, Urban Point, SignalGenerix, HyperThink System, Playkot and Aditess.
Rising Star
As part of the Technology Fast 50 programme, Deloitte also provides the Rising Star accolade, dedicated to companies that show great potential, but have been trading for less than three years and don’t meet the ranking criteria. The Rising Star list featured the UAE based EdTech company, Englease, and Sure Payment, the Saudi Arabian Fintech company.
The programme also grants the Impact accolade for companies that have an Environmental, Social, and Governance (ESG) element at the heart of their mission. Leading the Impact ranking in the second edition is the Oman based 44.01, which eliminates CO2 by turning it into rock. In second and third position came respectively the Lebanon based non-profit organisation, CodeBrave.
The second edition of Technology Fast 50 also features a section covering Companies to Watch, which recognises the innovation and achievements of some businesses who are leading the way but do not meet the programme’s criteria yet. The top two spots in this category were claimed by Saudi based EdTech company Algooru and UAE based EdTech company, Allinners.
In this edition of Technology Fast 50, Deloitte Middle East received applications from companies providing products and services across Software, Fintech, Media & Entertainment, and other sectors.
David Stark, Deloitte Private Leader said: “It is exciting to see the pool of companies participating in this year’s programme with regional entrepreneurs exploring a wide variety of fields and developing innovative solutions that address different business challenges. The second edition of Fast 50 is a great showcase of Deloitte’s commitment to supporting the technology sector which is more vital than ever for the region’s economic development.”-- TradeArabia News Service