Swoop tops Deloitte Fast 50

Andrea Reynolds’ Swoop ranks as fastest growing tech firm in Ireland.

Fintech business Swoop has emerged as the fastest growing technology company in this year’s Deloitte Technology Fast 50 Awards, having risen to first place after placing fourth in last year’s ranking.  

Swoop is a global platform supporting businesses by bringing their data into one place to garner insights and be instantly matched to eligible finance, as well as assess their spend on cost categories such as energy, banking and FX.

“Our incredible growth since 2018 is a marker of our efficient and sustainable approach, with capital efficiency at the heart of all our decisions”

The Deloitte Technology Fast 50 Awards is a ranking of the country’s 50 fastest-growing technology companies based on revenue growth over a four-year period, and this year marks 24 years of the programme celebrating innovation and entrepreneurship in Ireland’s indigenous technology sector.

Full details on the winners can be found at www.fast50.ie.

Swooping in on the future of finance

“Swoop’s triumph in the Deloitte Technology Fast 50 ranking is a testament to our unwavering mission to provide every business access to finance, wherever and whoever they are,” said Andrea Reynolds, founder and CEO, Swoop.

“This award is not just recognition; it’s a reflection of our team’s relentless spirit and determination to democratise finance.

“Our incredible growth since 2018 is a marker of our efficient and sustainable approach, with capital efficiency at the heart of all our decisions. Partnering with industry leaders like Sage, Microsoft, NatWest, and Lloyds has fortified our journey. As we celebrate this achievement, our focus remains forward, dedicated to continued growth in 2024 and beyond. Swoop is not just winning awards; we’re pioneering change in the world of business finance.”

Irish Fast 50 have €3bn in annual revenues

Cumulatively, the 2023 Fast 50 winners generated more than €3bn in total annual revenues. The average growth rate of the companies compared to four years ago was 721% and 15 of the 50 ranked companies were first time winners.

The majority of Fast 50 companies have doubled their workforce since 2019, and now employ over 8,800 people across the country. The companies ranked identified finding, hiring and retaining top talent and international expansion as two of the biggest challenges they face trying to grow their company. 

“Congratulations to all the companies that ranked this year,” said James Toomey, partner and Fast 50 lead, Deloitte. “The Fast 50 awards are an important and exciting moment for Ireland’s indigenous tech industry to reflect on the growth and challenges they have experienced over the past year.

“Even though this has been a difficult year for tech companies, there are encouraging indicators in these rankings that show the strength of Ireland’s indigenous sector and that our homegrown talent continues to play an important role in building the future of technology. Supporting this ecosystem is not just an investment in innovation, it’s an investment in our collective progress, and networks like Fast 50 are an ideal opportunity to connect and learn from other companies.

Toomey added: “The majority of the Fast 50 companies have grown their workforce and more than one in five of the companies ranked are new entrants, showing a continued growth in the tech sector and the outreach of Fast 50. M&A is also high on a lot of our Fast 50’s agendas which is supporting them to scale by either taking on investment or acquiring strategic bolt-ons.”

In addition to announcing the ranking of the Fast 50 companies, the Deloitte Technology Fast 50 awards included several award categories.

The ‘Rising Star’ award in association with Enterprise Ireland was a new addition, won by Green Rebel, an Irish data company providing site investigation services to the offshore wind sector. It specialises in a full suite of data services from acquisition through processing, interpretation, reporting and delivery across three key divisions: Geophysical, Aerial Ecology and MetOcean. 

Awards winners

  • Growing New Technology Award in association with Google 

Winner: Brightflag

This award recognises a company that has created or introduced a new or innovative product or service to international markets, which helped grow their business over the last four years.

  • Impact Award in association with Meta

Winner: XOCEAN

This award recognises a company that has made a significant impact within the current year.

  • Scale up award in association with Scale Ireland 

Winner: Siren

This award recognises a company that has demonstrated an impressive ability to scale up/expand overseas over the last four years.   

  • Advocate for Women in Technology 

Winner: Laura Haldane, Co-Founder and VP of Sales and Marketing, SciLeads

This award recognises an individual who has demonstrated through their actions that they are an advocate for increasing participation by the promotion of women in the technology sector.

  • Rising Star Award in association with Enterprise Ireland 

Winner: Green Rebel

This award is given to a company who demonstrates a promising growth trajectory and the potential for inclusion in the Fast 50 rankings in years to come. Companies being considered for this award have operating revenues accounting for a minimum of two years and less than four years.

  • Financial Services Innovation Award in association with Financial Services Ireland 

Winner: ID-Pal

This award recognises a company with an innovative product or services that is having a disruptive impact within the financial services industry.

  • Alumni Award 

Winner: Fenergo

This honorary award recognises a company that has played a major part in the Fast 50 Programme to date. 

Main image at top: Andrea Reynolds, CEO, Swoop and James Toomey, partner and Fast 50 lead, Deloitte. Picture: Jason Clarke

John Kennedy
Award-winning ThinkBusiness.ie editor John Kennedy is one of Ireland's most experienced business and technology journalists.