Flexiti secures the ranking with 5,748%revenue growth from 2016 to 2019
TORONTO, Nov. 18, 2020 /CNW/ - Flexiti Financial ("Flexiti"), a leading provider of point-of-sale financing solutions for retailers, today announced it has received program awards from Deloitte Canada's Technology Fast 50TM and Deloitte's North American Technology Fast 500TM. Flexiti ranked 6th on Deloitte Canada's Fast 50 and 39th on Deloitte's Fast 500, citing 5,748 per cent revenue growth from 2016 – 2019. Flexiti attributes its rapid revenue growth to its signing of new retailers and new innovations, including its e-commerce buy now, pay later product.
The Deloitte Technology Fast 50 program winners consist of public and private companies in the technology sector, which have transformed the industry. Now in its 23rd year, the program runs alongside the broader Deloitte North American Technology Fast 500™, with winners automatically eligible for this elite ranking.
"This year's Fast 50 winners should be especially proud of this designation, as their role in the fabric of Canadian business—particularly during these turbulent times—is crucial," said Erica Pretorius, partner and national leader for the Technology Fast 50 program at Deloitte Canada. "Their bold vision and true commitment to innovation allow them to not only improve today's world, but also shape tomorrow's, despite the constant uncertainty. This year's winners are proving themselves resilient, innovative and adaptable, all in an unpredictable year defined by economic instability and the continuing public health crisis."
To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research and development activities in Canada and invest a minimum of five per cent of gross revenues in R&D.
Flexiti previously ranked 7th on Fast 50TM and 40th on Technology Fast 500™ in 2019.
"It's truly an honour to be recognized by Deloitte as one of the fastest growing companies not just in Canada, but North America, for the second year in a row," said Peter Kalen, Founder and CEO of Flexiti. "I am incredibly proud of the many accomplishments the Flexiti team has achieved. From signing top-name retail partners, to launching and innovating upon our buy now pay later solution, there is no limit to what we can do. I'm excited to lead the team forward and our continued success."
About the Deloitte Technology Fast 50™ The Deloitte Technology Fast 50 program is Canada's pre-eminent technology awards program. Celebrating business growth, innovation and entrepreneurship, the program features distinct categories, including the Technology Fast 50 ranking, Enterprise Fast 15, and Companies-to-Watch. The program also recognizes companies within the North American Technology Fast 500 ranking, identifying technology companies in the United States and Canada. The 2020 program sponsors include Deloitte, RBC, CBRE, Clarity Recruitment, and Lafond. For further information, visit www.fast50.ca
About Deloitte's 2020 Technology Fast 500™ Now in its 26th year, Deloitte's Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences 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 2016 to 2019.
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 $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About Deloitte Deloitte provides audit and assurance, consulting, financial advisory, risk advisory, tax, and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights, and service to address clients' most complex business challenges. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
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About Flexiti Flexiti is Canada's fastest-growing point-of-sale lender, offering customers 0% interest financing at retailers that sell big-ticket goods like furniture, appliances, jewellery and electronics. Through its award-winning buy now pay later platform, customers can be approved instantly to shop with their FlexitiCard, which they can use online or in-store to make multiple purchases, within their credit limit, without needing to reapply. Accepted at over 5,000 locations and ecommerce sites across Canada including The Brick, Leon's, Staples, Sleep Country, Wayfair, Birks and Peoples Jewellers, Flexiti aims to make our customers' lives more affordable and help our retail partners grow their sales by offering flexible financing options.
Flexiti's technology platform is recognized as market leading, winning ACT (Advanced Card Technologies) Canada's 2015 Technology Innovation Award for Payments Benefiting Merchants. In 2017, Flexiti was recognized in North America as the Leading Emerging Fintech by LendIt. In 2019, Flexiti was named Canada's 11th fastest growing company by the Globe and Mail, ranked 7th in the Deloitte Technology Fast 50TM program, and 40th in Deloitte North America Technology Fast 500TM. In 2020, Flexiti ranked 29th in The Americas' 500 Fastest Growing Companies by the Financial Times, 6th in The Globe and Mail's Canada's Top Growing Companies, and 3rd on the 2020 Growth List. For more information, visit www.flexiti.com.
SOURCE Flexiti Financial Inc.
For further information: Media Contact: Jason Kinnear, [email protected], 647-291-8026