Swoop has emerged as the fastest growing technology company in this year's Deloitte Technology Fast 50 Awards.
Swoop, fourth in last year's rankings, 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 foreign exchange.
The company was founded by Andrea Reynolds and Ciaran Burke in 2018 and now employs 25 people in Ireland and 100 globally. It has offices in the UK where it has five locations as well as Canada, the US, Australia and South Africa.
The Deloitte Technology Fast 50 Awards ranks 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 which celebrates innovation and entrepreneurship in the Irish indigenous technology sector.
Andrea Reynolds, founder and CEO of Swoop said the company's triumph in the Deloitte Technology Fast 50 ranking is a testament to its unwavering mission to provide every business access to finance, wherever and whoever they are.
"This award is not just recognition - it's a reflection of our team's relentless spirit and determination to democratise finance," Andrea Reynolds 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," she stated.
"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," she added.
Cumulatively, the 2023 Fast 50 winners generated over €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 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 at Deloitte said the 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," Mr Toomey said.
"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," he added.
The Deloitte Technology Fast 50 awards also includes 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.
Kieran Ivers, CEO of Green Rebel, said the award recognises the progress that has been made in the offshore wind sector in such a short space of time.
"The economic opportunities that lie ahead for Irish companies are significant and Green Rebel is an example of what can be achieved. The services we offer didn't exist in Ireland three years ago, and already we've positioned ourselves as an organisation which can export these services to meet international demand," Mr Ivers said.
"The market is there and it is reassuring that the value of offshore wind stays in Ireland, that jobs are created and the talent remains here," he added.
The other winners of the awards this year were:
Growing New Technology Award in association with Google - Brightflag
Impact Award in association with Meta - XOCEAN
Scale up award in association with Scale Ireland - Siren
Advocate for Women in Technology - Laura Haldane, co-founder and VP of Sales and Marketing at SciLeads
Rising Star Award in association with Enterprise Ireland - Green Rebel
Financial Services Innovation Award in association with Financial Services Ireland - ID-Pal
Alumni Award - Fenergo
