Australia's 5 fastest growing tech companies in 2015

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Deloitte has announced its annual list of the 50 fastest growing technology companies in Australia.

The winner is Prospa, a fintech and online small business lender. Prospa ranked 20th on the BRW Fast Starter List 2015.

The fintech had 6971% revenue growth over the three years to 2014, almost double that of last year’s winner, communications company NEXTDC Ltd which recorded 3626%.

Prospa specialises in unsecured loans of $5000 to $250,000 to small businesses over three to 12 months with daily or weekly repayments.

Internet and software companies made up two-thirds of this year’s 50. To qualify for a place in the top 50 Deloitte Australian TechFast 50, each technology company has to accumulate more than $8 million in revenue over three years.

“Each year we are blown away by the quality, capacity and foresight of our Deloitte TechFast 50 award winners,” says Joshua Tanchel, a Deloitte partner. “Their ideas, their grasp of what the market wants, and their ability to deliver is simply awesome.”

The top five 2015 Tech Fast 50 winners are:

1. Prospa (NSW). A small business lender using a proprietary technology platform to deliver an online application process to approve and provide funding for loans within 24 hours. Growth of 6971%.
2. Cirrus Networks (Perth). A listed Australian IT solutions provider. Growth of 5571%.
3. Ingogo Limited (NSW). A peer to peer taxi booking app with in-taxi payment terminal. Growth of 1494%.
4. Urbanise.com (Victoria). A cloud-based building services delivery platform for the facility management industry. Growth of 1080%.
5. Atomos Global (Victoria). A high quality video monitoring and recording device manufacturer. Growth of 425%.

Deloitte also released a Rising Stars list of high-growth companies which don’t qualify for the TechFast 50 list because they have less than three years existing revenue.

The top three Rising Stars are all NSW based:

  • Plutora is a risk managing software company with 4539% growth. Its Enterprise Release Management solutions are aimed at assisting organisations collaborate across silos with a shared, detailed understanding of the enterprise release processes and interdependencies.
  • Oncosil Medical is an ASX listed Australian life sciences company aimed at providing new technologies for safer and more effective ways to deliver radiation therapy to cancer patient’s tumours having achieved 3094% growth.
  • Open Agent is in the real estate business. It offers a unique service that compares and ranks more than 30,000 active real estate agents in Australia through an algorithm using more than two million sales transactions and 15,000 customer reviews to power its rankings.

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