London, UK — 9 Nov 2023 — PayAlly has been recognised as the 19th 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 PayAlly’s significant impact on London’s economy and its capacity for growth and innovation.
About the Fast Growth 50
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.
Role in London’s Business Scene
Being part of the Fast Growth 50, PayAlly 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 PayAlly 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, the world’s leading and truly global wealth manager.
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.”
Contribution to Growth and Job Creation
During 2020 to 2022, PayAlly was instrumental in the Fast Growth 50’s collective turnover increase of £1.45 billion, also creating a number of new jobs. This highlights the company’s role in London’s economic growth, particularly post-COVID-19.
Diverse Range of Businesses
The Fast Growth 50 features companies from various sectors, adding to the diversity of London’s economy. PayAlly, with its focus in the financial services industry, is part of this varied business landscape.
Business Responsibility and Impact
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.
What’s Next for PayAlly
Looking forward, PayAlly has plans to expand its workforce, launch new products, and extend its market reach.
For the full list of awardees, please visit FastGrowth50.com
About the Fast Growth 50:
The Fast Growth 50 has been running in Wales for 25 years and the national roll out is brought to you by the same team behind other notable programmes such as The Start-Up Awards and The Great British Entrepreneur Awards.
This initiative is more than just an annual index; it aims to build a community that supports, celebrates, and champions entrepreneurs at various stages. The index highlights the 50 fastest-growing businesses in six nations and regions based on turnover growth over a two-year period.