Neo Financial takes first spot on the Fast 50 list with exceptional three-year growth of 154,022 per cent

TORONTO, Nov. 6, 2024 /CNW/ – Deloitte Canada is pleased to announce the winners of its Technology Fast 50, Enterprise—Industry Leaders, Clean Technology, and Companies-to-Watch awards. Now in its 27^th year, the Technology Fast 50^™ program recognizes the world-class achievements of Canada’s leading technology companies—highlighting their commitment to innovation, strong leadership, and rapid revenue growth. This year, the average three-year growth of the Technology Fast 50 winners is 3,559 per cent.

“The winners of this year’s program exemplify the strength and resilience of Canada’s business landscape, showcasing their ability to navigate challenges and drive exceptional growth amid economic uncertainties and technological disruptions,” says Anders McKenzie, partner, and national leader for the Technology Fast 50 program at Deloitte Canada. “These remarkable companies have positioned themselves as growth leaders in their respective sectors, paving the way as catalysts and setting new benchmarks for success. We are proud to celebrate their achievements and recognize them as the driving force behind the country’s technological advancement and economic prosperity.”

According to Deloitte’s annual survey of Technology Fast 50 program executive leaders, the top ranked challenge facing Canada’s fastest-growing technology companies is attracting and retaining a qualified workforce, followed closely by developing new products and services and expanding globally.

Furthermore, with over 97 per cent of technology companies planning on investing in IT in the next year, the survey shows that generative AI has gained momentum in only a year. While 67 per cent of respondents indicated that the technology is a generational innovation comparable to the internet, more than four in ten (44%) said they are already deploying it in their own businesses, compared to 24 per cent of the companies surveyed in 2023.

2024 winners: Fintech, travel, smart ventilation solutions, and clean mobility lead the way

At the top of this year’s Technology Fast 50 list, with a three-year growth of 154,022 per cent, is Neo Financial, leaping from the number one spot in the Companies-to-Watch category last year. Headquartered in Calgary, the company is building a smarter financial experience for all Canadians using the latest technology. Specializing in savings and credit products, Neo Financial is on a journey to reshape the financial future for millions of people in Canada.

Hopper, an accredited travel agency from Montreal that partners with airlines, hotels, homes, and car rental providers across the globe, earns the top ranking in the Enterprise—Industry Leaders category. With a three-year growth of 1,207 per cent, the company has ranked as #1 travel app in over 70 countries, aspiring to be the world’s best — and most fun — place to book travel.

With a three-year growth of 6,610 per cent, Oxygen8 Solutions Inc. takes the first spot of the Clean Technology category. The Vancouver-based company develops smart ventilation solutions that provide fresh, filtered outside air to building occupants with minimal carbon emissions, creating comfortable, healthy, and energy-efficient indoor environments.

In the Companies-to-Watch category, Inmotive has the highest revenue growth at 8,829 per cent. Headquartered in North York, the company is the inventor of Ingear, an ultra-efficient multi-speed powertrain technology that accelerates clean mobility adoption by making electric vehicles more affordable, playing an important role in mitigating climate change.

90 Canadian companies earn a spot on the Technology Fast 500^™ ranking this year

The Technology Fast 50 awards program runs alongside the broader North American Technology Fast 500, with winners automatically eligible for this elite ranking. This year, 90 Canadian companies made that list. The complete list of Technology Fast 500 winners will be released on November 21 and you can view them here once available. 

For more information on the Technology Fast 50, Enterprise—Industry Leaders, Clean Technology, and Companies-to-Watch categories, please visit: www.fast50.ca.

TECHNOLOGY FAST 50

ENTERPRISE—INDUSTRY LEADERS

CLEAN TECHNOLOGY

COMPANIES-TO-WATCH 

About the Deloitte Technology Fast 50^™ program
The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. It recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50, Enterprise—Industry Leaders, Clean Technology, and Companies-to-Watch. The program also recognizes thriving technology companies in the United States and Canada in partnership with the North American Technology Fast 500 program. Program sponsors for 2024 include RBCx, Osler, EDC, CCI, TMX, Clarity, and Lafond. For more information, visit www.fast50.ca.

About Deloitte Canada
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SOURCE Deloitte Canada

Media inquiries: Marilyne Plouffe, Deloitte Canada, [email protected], 514-393-5471