Innoviti announced that it ranked Number 14 on the Deloitte Technology Fast 50 India 2013 organised by Deloitte Touche Tohmatsu India Private Limited, a ranking of the 50 fastest growing technology companies in India. Rankings are based on percentage revenue growth over three years. Innoviti was positioned 14th due to its amazing growth of 392%, improving upon its earlier ranking of 33. We are the highest growth rate positioned company in the payment space in the Deloitte 50.
Innoviti’s CEO, Rajeev Agrawal, credits the maturing of its payment product which led to the non-linear growth expected from product businesses. He said, “We are delighted to be part of Deloitte Technology Fast 50 list for the second time. This is a clear indicator of our product model showing results. While we only doubled our head-count, our revenue grew four times. At Innoviti we have developed a capability of identifying customer problems in the transaction managemnet space that can be solved through technology and productizied to apply it across customers efficiently. The growth is the outcome of this capability and the credit goes to the Innoviti team.
“Finding a place in the Deloitte Technology Fast 50 India ranking is a testament to a company’s commitment to successfully transitioning their idea and technology to commercial viability,” Rajiv Sundar, Senior Director, Deloitte in India. “With its 392% growth rate over three years, Innoviti is showing that it has the vision and determination to grow despite a challenging environment”
Innoviti was previously ranked 33 in 2011 Deloitte Technology Fast 50 and has moved closer to the top ten this year.