Your IndustryNov 24 2014

True Potential sees 837% growth in five years: Deloitte

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ByRuth Gillbe

True Potential has grown 837 per cent over the last five years, according to a ranking of the 50 fastest-growing technology companies in the UK by Deloitte.

This growth makes the firm - which provides technology and business support services to over 22 per cent of the UK adviser market - the fastest growing financial and technology services provider headquartered outside of London.

The True Potential group increased turnover to £20.8m in the first half of 2014, up 87 per cent against the same period in 2013 (£11.1m).

David Harrison, managing partner at the firm, said: “The UK is facing a savings crisis where people are not saving the amount they need for a comfortable retirement. At True Potential we believe in making saving and investing simple and more accessible using cutting edge technology, so this recognition is particularly rewarding.”

David Frith, corporate finance partner at Deloitte, added: “It is interesting that nearly a quarter (24 per cent) of the Deloitte UK Technology Fast 50 entrants have received investment from venture capital or private equity firms over the last five years and there is evidence that companies are increasingly looking to this source of funding.

“Forty per cent of Deloitte UK Technology Fast 50 entrant CEOs are expecting to access venture capital or private equity funding in the next 12 months.”