Adoption of Branch's easy-to-launch instant payments solutions leads to 625% revenue growth
MINNEAPOLIS, Nov. 17, 2023 /PRNewswire-PRWeb/ -- Branch, the leading workforce payments platform, today announced it ranked 226th on the Deloitte Technology Fast 500™, a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 29th year. Recognized on the esteemed list for the third consecutive year, Branch grew 625% during this period.
Overall, the 2023 Technology Fast 500 companies achieved revenue growth ranging from 201% to 222,189% over the three-year time frame from 2019 to 2022, with an average growth rate of 1,934% and a median growth rate of 497%.
Branch powers faster payments and inclusive financial services for companies such as Uber, Indeed, Manna Hospitality Group, FleetNurse, and Tippy. Founder and chief executive officer Atif Siddiqi credits Branch's range of easy-to-launch instant payment solutions with their continued growth. "As companies increasingly understand the value faster payments can provide to their workforces, they've turned to Branch to launch world class payout solutions that can not only meet their organization's needs, but also get them set up quickly and easily."
This year, Branch expanded their range of accelerated payment offerings with the introduction of Branch White Label and Branch Direct, enabling businesses with more flexible ways to adopt instant payments regardless of their technical expertise or timeline. Branch White Label offers a faster, easier way to launch and manage a branded payments experience backed by Branch's core technology and team of experts. With Branch, companies can launch a holistic mobile wallet and Mastercard debit card that supports their workforce from activation to end-user support and fraud prevention. Without any engineering resources or pre-funding required, businesses can launch the Branch Direct web portal to give earners the option to receive fast payouts directly to a personal bank account via their connected debit card.
About the 2023 Deloitte Technology Fast 500
Now in its 29th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies—both public and private—in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2019 to 2022.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Branch
Branch is the leading workforce payments platform that helps businesses compete for talent by enabling instant payments and other financial services with easy-to-launch solutions. By replacing slow, expensive pay processes with ones that work better for everyone, Branch empowers companies to better attract, engage, and retain their workforces. Earners that sign up with Branch can receive a fee-free bank account, instant access to earned wages, rewards, and personal finance tools to help them manage their cash flow between paychecks. Branch partners with the nation's leading companies in healthcare, last-mile delivery, logistics, and restaurants/hospitality. Branch has been honored with a Webby Award—Best Financial Services, Fintech Breakthrough Award, Gartner Eye on Innovation: Financial Services, and Great Place to Work Certification. To learn more about Branch, visit https://www.branchapp.com and follow us on Twitter/X and LinkedIn.
About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including nearly 90% of the Fortune 500® and more than 8,500 U.S.-based private companies. At Deloitte, we strive to live our purpose of making an impact that matters by creating trust and confidence in a more equitable society. We leverage our unique blend of business acumen, command of technology, and strategic technology alliances to advise our clients across industries as they build their future. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them. Bringing more than 175 years of service, our network of member firms spans more than 150 countries and territories. Learn how Deloitte's approximately 457,000 people worldwide connect for impact at http://www.deloitte.com.
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Media Contact
Adrianne Ho, Branch, 6126011122, [email protected]
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