Pictured: James Toomey, Deloitte, and Andrea Reynolds, Swoop

Swoop rises to top of Deloitte Fast 50 rankings

Majority of listed companies have doubled their workforce since 2019

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Pictured: James Toomey, Deloitte, and Andrea Reynolds, Swoop

1 December 2023

Swoop, a Dublin-based fintech company, is 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. The company operates 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 foreign exchange.

The Deloitte Technology Fast 50 Awards is a ranking of Ireland’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.

Andrea Reynolds, founder and CEO, Swoop said: “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.”

Cumulatively, the 2023 Fast 50 winners generated more than €3 billion 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 are ranked identified finding, hiring and retaining top talent and international expansion as two of the biggest challenges they face trying to grow their company.

James Toomey, partner and Fast 50 lead, Deloitte said: “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.

“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.