More than 100 Australian companies have been recognised among the 1000 fastest-growing companies in the Asia Pacific, with Australian fintech company and former Smart50 winner Prospa taking out the number one spot.
Australian companies claimed five of the top 10 places on the the Financial Times‘ High-Growth Companies Asia-Pacific list, which is based on percentage growth in annual revenue between 2013-2016.
Overall, 113 Australian companies are listed in the top 1000, with revenues recorded by Australian companies in 2016 ranging from $1.27 million to $3.85 billion.
The list is compiled from companies that have generated annual revenue of at least $US100,000 in 2013 and then $US1 million in 2016. The companies must not be a subsidiary or branch of another company, not have experienced share price irregularities, and growth must have been from organic means.
The researchers then examined the revenue data from more than 14,000 companies in the 11 participating territories to determine the top 1000. The Financial Times reports the minimum average growth rate required to make the top 1000 this year from 10.1%.
According to the list Prospa, which provides loans to SMEs and took out the top spot in the 2016 Smart50 Awards, achieved revenue growth of 16,066% between 2013 and 2016. The fintech company has partnered with institutions like Westpac and Xero after its co-founders Beau Bertoli and Greg Moshal saw an opportunity to establish an online platform to help small business owners with unsecured loans of up to $250,000 within a 10 minute timeframe.
Four other Australian companies were included in the top 10: Big Un (6,397%), TripADeal (5,246%), LegalVision (4,949%) and Employsure (4,111%).
Other former Smart50 finalists to make the Financial Times list include LegalVision, Media33, Digivizer, Online Marketing Gurus and b.box for kids.
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