London (PRWEB UK) 17 September 2015
Paymentsense has been ranked 70th in The Sunday Times Hiscox Tech Track 100, a list of the UK’s fastest-growing technology, media and telecoms companies.
Paymentsense posted annual sales growth of 54% over the last three years and is on track to grow over 100% this year alone. The company was previously ranked seventh in the 2013 Tech Track listings and is one of only a few UK tech companies to retain such a high growth rate since its initial listing.
The company was once again the only merchant service provider to feature in the listings, a clear sign that the business remains a disruptive force within the card processing market and continues to gain market share in this highly competitive space.
As well as ranking in the Tech Track 100, Paymentsense has also been announced as a finalist in the Lloyds Bank National Business Awards 2015. The company will be competing in the UKTI Growth Business of the Year Award category.
Commenting on the announcement, George Karibian, founder of Paymentsense said: “We are delighted to be ranked in The Sunday Times Hiscox Tech Track 100 once again. This represents the seventh occasion one of our businesses has featured on Tech Track. Credit goes to the highly talented and hard-working teams that have made this possible.”
Fellow Paymentsense founder, Jan Farrarons, added: “It’s a huge honour to be featured in such a prestigious business listing alongside so many other fast-growing tech companies and we are immensely proud to have our hard work recognised by the Tech Track scheme once again.”
The 100 companies featured in this year’s listing grew their collective sales over the last three years by an average of 86% a year to a total of £2.4bn.
This is five times the combined sales of the companies in the first Tech Track 100 in 2001, a year after the dot-com crash when they made a total of £414m.
Together the companies employ over 13,000 people, more than double the total 15 years ago. The league table and awards programme is sponsored by Hiscox, Barclays, BDO and BGF and compiled by Fast Track, the Oxford-based research and networking events firm.
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Paymentsense was founded by serial entrepreneurs George Karibian and Jan Farrarons. As the UK's largest merchant service provider, Paymentsense enables 45,000 SMEs to process over £5 billion worth of card payments per year. From contactless card machines to online payment services, Paymentsense supplies small businesses with card processing solutions that allow them to take payments in store, online, over the phone and on the move.
About Fast Track
Fast Track has published league tables of top-performing private companies with The Sunday Times for the past 18 years. Its invitation-only dinners provide a valuable opportunity for entrepreneurs to network and meet its sponsors. The company was founded and is run by Dr Hamish Stevenson, who also holds an associate fellowship at Green Templeton College, Oxford University.
Steve Langan, CEO of Hiscox Insurance Company, the title sponsor of the league table, commented: “Tech is one of this country’s most exciting sectors right now. Every single one of this year’s Tech Track 100 businesses has made an important contribution to its sector and the wider economy, and that’s something to be immensely proud of.”