Freemarket, a leading London-based fintech platform for B2B cross-border payments and currency exchange, has been recognised as the 17th fastest-growing business in London. This is part of the Fast Growth 50 index for 2023, which identifies the fifty fastest-growing companies across six nations and regions, including London. This achievement underlines Freemarket's significant impact on London's economy and its capacity for growth and innovation.
The Fast Growth 50 is an annual index that identifies the top 50 fastest-growing companies in six nations and regions, including London. This year's index for London has highlighted businesses from multiple sectors that together generated a turnover of £2.23 billion, at an average growth rate of 188 percent, with the creation of nearly 11,000 jobs last year.
Being part of the Fast Growth 50, Freemarket has shown strong performance and made a positive contribution to London’s business community.
Professor Dylan Jones-Evans OBE, Founder Fast Growth 50 said:
“The UK Fast Growth 50 Index demonstrates that a small number of fast growth firms such as Freemarket make a substantial contribution to the UK’s economic landscape, providing real examples of how innovation, enterprise and sheer hard work can make a real difference in all sectors from construction to financial services to technology.
Their incredible growth during difficult times shows that through generating wealth and jobs in their local communities, entrepreneurship is the cornerstone of regional and national prosperity. Most important of all, their success stories demonstrate the impact of ambition and adaptability, providing a blueprint for sustainable growth that will hopefully inspire others to follow a similar journey.”
This year’s Fast Growth 50 London list is in partnership with UBS, a global wealth manager and investment bank.
Mark Goddard, Head of UK Regions at UBS Global Wealth Management said:
“Business owners and entrepreneurs are the engine of our economy, and UBS has a long history advising and connecting them on each stage of their wealth journey, helping them to unlock their potential. Led by entrepreneurial spirit and often solving some of the UK’s biggest issues, the level of talent and innovation uncovered through this year’s list shows that more needs to be done to support small businesses to strengthen local economies and give back to the local community. As the lead sponsor of this year’s Fast Growth 50, UBS is looking forward to following and supporting these businesses as they go from strength to strength.”
The Fast Growth 50 features companies from various sectors, adding to the diversity of London's economy. Freemarket, with its focus in the B2B payments and currency exchange space, is part of this varied business landscape. This year's index includes nine B-Corp companies, signaling a growing awareness of the role businesses have in solving global issues such as climate change and income inequality.
Freemarket has grown to over 100 employees and has achieved a record sales growth of 201.07% over the last three years. Freemarket works with small to mid-sized businesses globally to accelerate their growth by giving them access to cross-border payments and currency exchange optimised for their treasury and operational needs to streamline processes, remove complexity and increase efficiency.
We enable businesses to unlock more currencies and markets through a single, API-enabled connection point and platform, while ensuring they can more efficiently move funds internationally and access an entire correspondent banking and payments network. Combining banking and payments service aggregation and integrated technology, we simply make it faster and easier for businesses to move money around the world.
You can find out more about Freemarket’s unique offering by watching our short explainer video.