Partner Article

Fast-growing Newcastle FinTech firm reports 336% revenue leap

Unrivalled revenue growth of 336% has led to Newcastle-based financial technology (FinTech) firm True Potential being named in Deloitte’s Technology Fast 50, the UK’s only firm to make it into the category for three years running.

Held in London last night (Thursday 17th November), the annual ceremony recognises and ranks the 50 fastest growing technology companies in the UK.

True Potential, which employs 310 people, grew its revenues from £13m in 2012 to £56.7m in 2015. The firm’s saving and investing technology is used by 20% of all UK financial advisers and by approximately two million consumers.

More that £52bn of clients’ investments are administered by True Potential and the firm partners with eight of the world’s largest fund managers, including UBS, Goldman Sachs, Allianz and Schroders.

US private equity firm FTV Capital took a minority share in True Potential in January. The deal valued the company in excess of £150m and increased the volume of assets on its own investment platform to £4.6bn.

Neil Johnson, Senior Partner at True Potential, said: “Making it into the prestigious Deloitte Fast 50 for three years in a row is an outstanding achievement. I put our success down to the way we do business because we remain very entrepreneurial and nimble.

“Sooner or later in business, you have to turn an idea into a profit and sadly some FinTech firms fall at that hurdle.

“I am incredibly proud of the team and that we are the only firm to make it into the Technology Fast 50 for three years running.

“This underlines that being profitable and growing revenues consistently is a huge challenge but if you have the right skills and the best products, it is achievable.”

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