Measuring revenue growth over the last three financial years, Deloitte has ranked the 50 fastest growing tech companies in India. A roundup of the top ten.
Deloitte Technology Fast 50 is an annual ranking of strong performers in India’s vibrant tech landscape. The list “recognises, honours, and encourages businesses and entrepreneurs who have achieved remarkable revenue growth rates by harnessing technology, innovations, and skilled human resources,” according to Deloitte partner and Fast 50 programme director Rajiv Sundar.
This year’s rankings reveal a clear dominance for India’s booming FinTech sector – home to four out of the top 10. That said, most technology companies with a strong purpose had a stellar 2020, spurred on by the pandemic-induced reliance on the digital sphere for business and consumption – against the backdrop of an intensifying digital transformation story.
Meet the top 10 fastest growing performers in India’s technology landscape:
Based in Bangalore and founded in 2015, Rupeek’s purpose is to monetise gold worth $2 trillion in the Indian economy – transforming the gold loan disbursement process using tech-powered, asset-backed, low-risk financial products developed in partnership with financial institutions.
Rupeek has backing from Sequoia Capital, Accel Partners, Bertelsmann and GGV Capital, and currently has over 1,00,000 customers across 25 Indian cities, served by a team of more than 700 professionals.
ZestMoney is a Bangalore-based inclusive consumer lending platform that makes equated monthly installments (EMI) available to everyone, irrespective of their credit score. Mobile tech, digital banking and AI enable speedy EMI payments to online and offline stores.
The firm was founded in 2015, backed by global financial services investors PayU, Ribbit Capital and Omidyar Network, among others, and currently counts more than 350 employees.
Gurgaon-based Roinet was founded in 2011 by a team of financial services veterans. The digital banking outfit aims to democratise financial instruments, enabling grassroots customers to access tech-driven and efficient tools for budgeting, insurance, payments and myriad other services. The firm currently operates with a team of over 150 professionals.
DataBeat uses advanced Industry 4.0 tech such as data analytics, artificial intelligence and machine learning to help businesses make the most of their vast data assets. The Hyderabad-based firm was set up in 2017, and has since amassed a glittering clientele – featuring EY, DuPont, Tribune Media, Mother Jones and Business Insider, among several others – served by a team of more than 50 professionals.
A FinTech based in Bangalore: Cashfree supports more than 50,000 Indian businesses with their finances – spanning payment collections, vendor and wage payouts, loan disbursements, expense reimbursements, ecommerce refunds, insurance claims, and loyalty and rewards payouts. The firm was founded in 2015, and has since grown into a team of over 200 professionals – serving clients such as Cred, Big Basket, Zomato, HDFC Ergo, Ixigo, Acko, Zoomcar and several others.
Serving the engineering and manufacturing sectors, Infinite Uptime uses advanced Internet of Things (IoT) technology to deliver quality, productivity and performance improvement through monitoring and predictive maintenance – among other services. The firm develops its own smart sensors, and delivers connectivity, communication, software, analytics, dashboarding and reporting solutions.
A team of over 70 works at the Pune-based firm, which was founded in 2015 and serves top industrial players such as Volvo, Eicher, Godrej, Mahindra and Tata, among others.
Mumbai-based Sankey Solutions is an innovative digital transformation partner specialised in advanced software, data engineering and data analytics solutions. App development, user experience design, predictive analytics, AI, machine learning and robotics are all competencies among the firm’s 200 plus employees. Since launching in 2015, the firm has served clients such as Bayer, Danone, Tata and The Free Press Journal, among others.
JustCall is an Indian-origin workflow management platform headquartered in the United States. Enabling international calls with a local number, JustCall is a key tool in the belt of any global business with an outsourced delivery centre. The firm was founded in 2016, and is active in nearly 60 countries – with a clientele including Domino’s Google Fiber, Walmart, AIG, Jaguar, EY and Alibaba, among several others.
Noida-based Aeologic is a tech solutions firm that supports clients with app development, Big Data & analytics, software development and testing, and staff augmentation – all enabled by advanced technology such as IoT, AI, blockchain and several others. Aeologic was founded in 2015, and has since grown into an operation of nearly 100 employees with Huawei, SBI, Spicejet and Paytm all on its roster.
Now headquartered in San Francisco, Instasafe was founded in Bangalore in 2012 – backed by top tech players such as Microsoft, IBM, Netapp and Oracle.T the firm’s scalable, flexible and cloud-powered digital platform allows employees to access secure business applications from any location or server.
Instasafe currently has more than 30 employees working across its India and San Francisco offices, serving Siemens, Schneider Electric and Berkeley University, among other clients.
For Sundar, the relevance and success of this year’s top performers is a promising sign for India’s vibrant tech startup landscape. “The new era of technological advances coupled with this year’s rankings give us renewed faith that Indian technology companies are making great strides forward,” he concluded.