Calgary-based FinTech startup Neo Financial has completed its hat trick of appearances in Deloitteâs Technology Fast 50 program.
“This year’s Technology Fast 50 program winners exemplify how Canada’s tech leaders are rising above external headwinds.”
The list recognizes Canadaâs fastest-growing technology companies across three categories, using their revenue growth percentage over the past three years as a benchmark. This year, Neo Financial topped the âEnterprise – Industry Leadersâ category with a revenue growth rate of 1,279 percent. This follows Neo taking first place in the Companies-to-Watch list in 2023, and the flagship Technology Fast 50 list in 2024. Neo is the first company to complete such a feat.
“As the only company to ever be named the fastest-growing fintech three years running, it’s clear we’re at the center of a nationwide transformation that will ultimately give Canadians more choices in a category that desperately needs it,â Neo co-founder Jeff Adamson said in a statement.
Last year, Neo secured a $362-million CAD Series D round as it looked to offer Canadians more competitive alternatives to traditional banks.
Included among the 16 other companies on the enterprise list (formerly the Enterprise Fast 15) were fellow FinTech startup Koho in second place with a 559-percent growth rate, Lightspeed Commerce at sixth, and Hopper at ninth.
Online car marketplace Clutch placed 12th with a 266-percent growth rate. This comes after a growth spurt over the past year brought it past $1 billion worth of cars purchased through its platform. Ottawa-based wellness practice management platform Fullscript placed 14th, with a 246-percent growth rate that got it to $1 billion in revenues.
Meanwhile, Ontario-based regenerative medicine startup Red Rock Regeneration took first place on the Technology Fast 50 list by posting a three-year revenue growth rate of 12,166 percent. The rest of the top five consists of Toronto-based wealth management platform CapIntel at 9,255 percent revenue growth, electric vehicle tech startup Inmotive at 9,167 percent, Winnipeg-based adtech startup Taiv at 7,432 percent, and last-mile logistics company UniUni.
RELATED: Neo Financial snags top spot on Deloitteâs 2024 Technology Fast 50
This yearâs winners averaged a three-year revenue growth of 2,623 percent. Other big gainers on the list include, in descending order, Float, Nesto, Tailscale, CoLab Software, TryCycle, ZayZoon, SWTCH, and Conquest Planning.
“This year’s Technology Fast 50 program winners exemplify how Canada’s tech leaders are rising above external headwinds, demonstrating both resilience and readiness to go big,” Deloitte Canada partner Brendan Cooper said in a statement.
The Companies to Watch list, which showcases companies with the potential to be future Fast 50 program winners, was topped by blockchain FinTech startup Gearlay. Founded in 2021 by CEO Abbas Abou Daya, the Vancouver-based company achieved a two-year revenue growth rate of 86,394 percent. Also on the list were SimplyAsk.ai, BorderPass, Optable, and the soon-to-be-acquired WonderFi.
To be eligible for the Technology Fast 50, Canadian-headquartered companies must own their proprietary technology, prove they had a minimum revenue of $50,000 in 2021 and $5 million in 2024, and have been in business for at least four years. Companies submit their audited or reviewed financial statements to qualify for the program.
Fast 50 winners are automatically eligible for the broader North American Technology Fast 500, which will be released on November 19. Deloitte says 114 Canadian companies made that list this year.
The full list of the 2025 Technology Fast 50 winners can be found here.
Feature image courtesy Neo Financial.