Afterpay Touch Tops Deloitte Tech Fast 50 Australia

Originally written by Chris Pash and published on Business Insider on 15 November 2018 at

Buy-now-pay-later fintech Afterpay Touch Group has topped the Deloitte Technology Fast 50 Australia list for 2018 with average revenue growth of 8134% over the last three years.

Afterpay, founded by Nick Molner and Anthony Eisen, also won the Leadership Award.

The company launched its reverse lay-by model in 2014, changing the way people pay for shopping and exporting the platform to thousands of retailers and millions of customers across the globe.

Afterpay in June topped the annual Finnies, the fintech industry awards for a second year in a row. In August, Afterpay posted full year underlying sales of $2.18 billion, up 289% on the year before. Revenue and other income was $116.8 million, up 302% over 12 months.

In the Fast 50 announced in Sydney tonight, NBN internet service provider Mate Communicate came in second with revenue growth of 3703%, followed by Bevan Slattery-led connectivity specialist Superloop with 1860%.

Slattery became the first entrepreneur in Fast 50 Australia history to have two businesses make the top 50, with connectivity company Megaport (637%) coming in at number ten.

Cloud technology provider Barhead Solutions was named the 2018 Rising Star among those companies below the $3 million revenue threshold to be in the Fast 50. Second was war veterans employment specialist WithYouWithMe with 3427% revenue growth and advertising disruptors Playground XYZ! with 3078%.

Almost one quarter (24%) of the Fast 50 is made up of fintechs, followed by software at 22%.

The top 10: Afterpay Touch Group; Mate Communicate; Superloop; Vamp; Zip; Swift Networks; Koala; PEXA; Truck Dealers Australia; Megaport. The full list is HERE.

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