A report from Deloitte Touche Tohmatsu India LLP, titled ‘Technology Fast 50’ India 2020, states that fintech emerged as the key sector in this year’s rankings with four of the top six fastest-growing companies being from this domain. It added that Bengaluru-based gold loan startup, Rupeek, and digital credit solution, Zestmoney, emerged as the fastest-growing technology companies in India. This estimation is based on their percentage revenue growth over the past three financial years.
The consulting group also added that these fintech companies have grown a staggering 13x to 70x over the last two years. The report further claimed that the aggregated revenue of the top 10 companies has gone up from about ₹21 crore to just under ₹400 crore representing a growth of close to 20x between the 2018 to 2020 period. The next ten companies have grown by approximately four times in terms of their revenue in the past two years.
Deloitte believes that several companies across data analytics, digital transformation, digital marketing, and other emerging sectors are likely to see persisting growth over the near term.
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