London firms dominate Deloitte’s Fast 50 list

Deliveroo tops Deloitte’s annual ranking of the UK’s fastest growing technology companies with a four-year revenue growth of 107,117% - a new record.

The pioneering delivery firm was joined in the top five by fellow London firms Bloom & Wild, Smarkets and Stratajet.

The other companies included: Paddle; Receipt Bank; GoCardless; Brainlabs; LoopMe; VIRTUS Data Centres; Optal; Kantox; mobstuff; Duco; WDX; Volta Data Centres; Yieldify; Pog; Realeyes; Funding Circle; Fonix; StarLeaf; Victor; Blis Media; Might Social; Farfetch; WorldRemit; Black Swan Data; BlueGlass; BookingBug; Ebury Partners; Seedrs.

There were also three companies from the South East to make the list which included Reddico; Kymab and Nervecentre Software.

Overall, the Fast 50 companies generated c.£1bn of combined revenue in 2016/2017, employing more than 9,000 people.

David Cobb, lead partner for the Deloitte UK Technology Fast 50 programme, said: “The achievements of this year’s winner are truly remarkable: Deliveroo is now the fastest-growing technology company in the history of the competition.

“Their relentless growth has justifiably added them to the exclusive list of UK ‘unicorns’. Everyone wants a slice of the online takeaway business, but very few have found success in the same way that Deliveroo has.”

Since being founded in 2013, Deliveroo has been disrupting the food takeaway industry by bringing restaurants closer to customers. Deliveroo now operates in 150 cities, employing 27,000 riders. They recently raised US$385m in new funding.

Dan Warne, general manager UK and Ireland, explains Deliveroo’s approach to technology: “We have always had a clear strategy – it has been a food tech company from the start.

“Technology is very important for us and it allows us to operate more efficiently, which means faster orders for consumers, higher sales for restaurants and more earning potential for riders. 

“It’s win-win for everyone. Our logistics algorithm is key, improving all the time to ensure our fantastic offer gets better and better.”

On being competitive, Warne adds: “The UK is an exceptional breeding ground for ambitious technology companies – and so there will always be competitors.

“Our focus is always on our customers, riders and restaurants, making sure we’re delivering on the things that matter to them. That’s the best way of remaining competitive.”

Aron Gelbard, co-founder and CEO of online florist Bloom & Wild, added: "Bloom & Wild are thrilled to have been named the second fastest growing company in the UK on Deloitte's Fast 50 List.

"The company has grown 13,818% since being launched in 2013, and now sends out tens of thousands of bouquets of flowers, primarily in its signature "through the letterbox format! every month across the UK, Germany, France and Ireland.

"Bloom & Wild is the UK's top rated online florist across all major review platforms including the App Store and the Play Store.

"Plans for 2018 include further growth in all these markets and further improvements to the technology platform to further strengthen the customer experience!"

Online betting exchange Smarkets retained its fourth spot and boasted the highest finish of a financial technology company in the annual list.

CEO Jason Trost said: "Having ranked fourth in last year's list, it's wonderful to see us as high again this year, thanks to our sustained and impressive growth in recent years, establishing ourselves as one of the fastest-growing companies in Europe.

"While our growth and especially profitability has been fantastic of late, we can't take our foot off the gas and must have an even bigger impact in 2018. I'm excited for the future of this company and what's ahead."

Published: 17 November 2017

Article by Bryce Wilcock
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