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FinTechs fly high in 2016 UK Technology Fast 50

FinTechs GoCardless, Smarkets, KANTOX and WorldRemit have made the top ten of Deloitte’s annual ranking of the UK’s fastest-growing tech companies. The 50 ventures generated £884 million in total annual revenues in the year 2015/16, employed more than 7,100 people and recorded an average four-year growth rate of 1,240%.

Almost half of the Fast 50 CEOs cited recruitment as the most important contributor to growth, but a quarter fear that a lack of skilled workers will threaten future growth. David Cobb, lead partner for the Deloitte UK Technology Fast 50, says: “The high growth rates achieved by our Fast 50 winners shows that the UK technology startup scene is in rude health. However, attracting the right people can be a challenge for any business, but it is all the more difficult for Fast 50 winners. Business leaders of fast growing companies want to be able to scale in line with their ambitions. It is about getting the right people in the right positions, and, unless these businesses quickly recruit large volumes of skilled workers, they will become victims of their own success.”

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