App-based savings and investment company Moneybox has appeared on a list of the 50 fastest growing technology companies in the UK.
The firm appeared on Deloitte's UK Technology Fast 50 for the fourth year running, climbing 19 places compared to last year.
Moneybox now has £5bn in assets under administration, an increase of 43 per cent on the previous year, and has seen revenue growth of 1,047 per cent over the last four years.
The company offers a Lifetime Isa which this year saw customers put in almost £500mn and so far has helped nearly 70,000 people buy their first home.
Ben Stanway, Moneybox co-founder and co-CEO said: “This achievement is a testament to our hardworking and talented team whose passion and dedication have helped deliver a number of really exciting milestones so far this year.
“Against a backdrop of persistent cost of living challenges, our customers are saving and investing more than ever, in most cases because they are prioritising their financial goals over their discretionary spending.
"Moneybox is now profitable and this presents us with an amazing opportunity to re-invest these profits into the Moneybox proposition to make it even better for our customers.”
Topping the Fast 50 list this year was Allica Bank, a fintech company set up to serve businesses with up to 250 employees.
Coming in fourth was Freetrade, a stock trading and investment app which has £1.3bn assets under administration and 1.4mn users.
Kiren Asad, lead partner for the Deloitte UK Technology Fast 50 programme, commented: “The impressive growth amongst this year’s Fast 50 winners demonstrates the tenacity of the UK’s technology sector as it cements itself amongst the top locations for venture capital investment globally.
“While businesses continue to navigate a turbulent economic landscape, the UK’s technology sector remains a symbol of resilience, talent, innovation and competitiveness. I would like to extend my congratulations to all of the winners.”
tara.o'connor@ft.com
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