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There are 13 UAE-based companies in the Deloitte Technology FAST 50 ranking, with Brandripplr in third place. The highest-ranked company in the second edition of the Fast 50 is fintech firm Capital.com, which grew 2,210 percent.
Ranked second and third were Jordan-based fintech company Dinarak and UAE-based media and entertainment company Brandripplr, which grew by 820% and 816%, respectively.
With an average growth rate of 277%, the companies on the list will generate a total annual revenue of US$800 million during 2021-2022, demonstrating the enormous potential of the technology industry in the region.
Other companies that participated in the first edition and made this year’s list include Justlife, Softline, Urban Point, SignalGenerix, HyperThink System, Playkot and Aditess.
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As part of the Technology Fast 50 program, Deloitte also offers the Rising Star Award, which recognizes companies that show significant potential but have been trading for less than three years and have not met the ranking criteria. The Rising Stars list features UAE-based EdTech firm Englease and Saudi Arabian fintech firm Sure Payment.
The program also awards impact awards to companies that have made environmental, social and governance (ESG) elements central to their mission. Leading the second edition of the Impact rankings is Oman-based 44.01, which removes CO2 by turning it into rock. In second and third place respectively is CodeBrave, a non-profit organization based in Lebanon.
The second edition of the Technology Fast 50 also features a section covering “Companies to Watch,” which recognizes the innovations and achievements of leading companies that have not yet met the program’s criteria. Algooru, a Saudi-based edtech company, and Allinners, a UAE-based edtech company, took the top two places in this category.
For this edition of the Fastest 50, Deloitte Middle East received applications from companies providing products and services in software, fintech, media and entertainment, and other industries.
David Stark, Deloitte Private Leader, said: “It’s great to see so many companies participating in this year’s program alongside regional entrepreneurs, exploring a wide range of areas and developing innovative solutions to different business challenges. The second edition of the Fast 50 is a great showcase Deloitte’s commitment to supporting the technology industry, which is more important than ever to the region’s economic development.” — trade arab news agency
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