Neo Financial completes first-ever hat trick of Deloitte Technology Fast 50 rankings

Calgary-based fintech startup Neo Financial completed its hat-trick of appearances on the Deloitte Technology Fast 50 program.

“This year’s Technology Fast 50 winners serve as an example of how Canada’s technology leaders are overcoming external obstacles.”

The list recognizes Canada's fastest-growing tech companies across three categories, using their percentage of revenue growth over the past three years as a benchmark. This year, Neo Financial topped the Industry Leaders category with a revenue growth rate of 1,279 percent. This follows Neo topping the list of companies to watch. in 2023and the flagship Technology Fast 50 list V 2024. Neo is the first company to achieve this feat.

“As the only company to be named the fastest-growing fintech company three years in a row, it is clear that we are at the center of a nationwide transformation that will ultimately give Canadians more choice in a category that desperately needs it,” Neo co-founder Jeff Adamson said in a statement.

Last year Neo received Series D round worth C$362 million as it sought to offer Canadians more competitive alternatives to traditional banks.

Among the 16 other companies on the enterprise list (formerly the Enterprise Fast 15), fintech startup Koho was in second place with a growth rate of 559 percent, Lightspeed Commerce was in sixth, and Hopper was in ninth.

Online car marketplace Clutch ranked 12th with a growth rate of 266 percent. This happens after growth spurt Over the past year, the number of cars purchased through its platform has exceeded $1 billion. Ottawa-based wellness practice management platform Fullscript ranked 14th with a growth rate of 246 per cent. $1 billion in revenue.

Meanwhile, Ontario-based regenerative medicine startup Red Rock Regeneration ranked No. 1 on the Technology Fast 50 list, reporting a three-year revenue growth rate of 12,166 percent. The rest of the top five are Toronto-based wealth management platforms. CapIntel 9,255 percent revenue growth, EV tech startup Inmotive up 9,167 percent, Winnipeg-based ad tech startup Tai by 7432 percent, and the last mile logistics company UniversityUniversity.

CONNECTED: Neo Financial was ranked #1 on the 2024 Deloitte Technology Fast 50.

This year's winners averaged a 2,623 percent increase in revenue over three years. Other major companies on the list, in descending order, include Float, Nesto, Tailscale, CoLab Software, TryCycle, ZayZoon, SWTCH and Conquest Planning.

“This year’s Technology Fast 50 winners exemplify how Canadian technology leaders overcome external obstacles, demonstrating both resilience and a readiness for greater achievement,” Deloitte Canada partner Brendan Cooper said in a statement.

The list of companies to watch, which showcases companies that have the potential to become future Fast 50 winners, is topped by blockchain startup FinTech Gearlay. Founded in 2021 by CEO Abbas Abu Daya, the Vancouver-based company achieved a two-year revenue growth rate of 86,394 percent. Also on the list were SimplyAsk.aiBorderPass, Optable and will be purchased soon Miracle-Fi.

To be eligible for the Technology Fast 50, companies headquartered in Canada must own their proprietary technology, prove they have a minimum revenue of $50,000 in 2021 and $5 million in 2024, and have been in business for at least four years. Companies provide audited or audited financial statements to qualify for the program.

Winners of the Fast 50 automatically qualify for the broader North American Technology Fast 500, which will be released on November 19. Deloitte says 114 Canadian companies made the list this year.

The full list of 2025 Technology Fast 50 winners can be found Here.

Image courtesy of Neo Financial.