Splitit Ranked the Number 66 Fastest-Growing Company in North America on the 2021 Deloitte Technology Fast 500™

Rhea-AI Summary

Splitit (ASX:SPT) has been recognized as the 66th fastest-growing company in North America on the 2021 Deloitte Technology Fast 500, with an impressive revenue growth of 2,486% from 2017 to 2020. Interim CEO John Harper attributed this surge to the growth of e-commerce and the demand for alternative payment options like buy now, pay later (BNPL). Unlike traditional BNPL solutions, Splitit allows consumers to use existing credit without additional steps, benefiting both customers and retailers. The Technology Fast 500 highlights companies achieving significant growth amidst challenges, showcasing ongoing innovation in the industry.

Positive

• Ranked 66th on the Deloitte Technology Fast 500, demonstrating significant market recognition.
• Achieved a remarkable revenue growth of 2,486% from 2017 to 2020.
• Provides a unique BNPL solution that keeps consumers on retailer sites, enhancing conversion rates.

Negative

• None.

NEW YORK, Nov. 17, 2021 /PRNewswire/ -- Splitit (ASX:SPT), the company empowering consumers to use their existing credit to spread payments over time, announced it ranked No. 66 on the Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 27^th year. Splitit grew 2,486% during this period.

Splitit Ranked the 66th Fastest-Growing Company in North America on the 2021 Deloitte Technology Fast 500™

Splitit's interim CEO, John Harper, credits the continued growth of e-commerce and rising interest in alternative payment options like buy now, pay later with the company's 2,486% revenue growth. He added, "The company was founded to empower consumers to use the credit they have earned to pay on their terms for the things they want and need. Retailers like Splitit because we are the only buy now, pay later (BNPL) solution that keeps the consumer on the merchant site. Because Splitit is not point-of-sale financing, there is no application, credit checks, redirects, pop-ups, accounts to create or extra steps added to the checkout to hinder conversion."

"Each year the Technology Fast 500 shines a light on leading innovators in technology and this year is no exception," said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader. "In the face of innumerable challenges resulting from the pandemic, the best and brightest were able to pivot, reinvent and transform and grow. We celebrate the winning organizations and especially the talented employees driving their success."

"The pandemic has underscored the urgent need for tech solutions in a variety of areas across health care, fintech, energy tech, entertainment, to name a few, so reliance on innovators like the winners of the Technology Fast 500 is more important than ever," said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte's audit & assurance practice. "These companies are not only at the cutting edge, transforming the way we do business, but most importantly, recognize the strategic importance of ongoing innovation, especially in the ever-changing world of technology."

Overall, 2021 Technology Fast 500™ companies achieved revenue growth ranging from 212% to 87,037% from 2017 to 2020, with median growth of 521%.

About the 2021 Deloitte Technology Fast 500™
Now in its 27^th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2017 to 2020.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

To learn more about Splitit, visit: www.SplitIt.com.

About Splitit
Splitit empowers consumers to use the hard-earned credit on their existing credit cards to spread payments over time with no applications, no additional fees and no hassle. Splitit attracts and converts higher-value customers helping merchants improve conversion rates and increase average order value by giving customers an easy and fast way to pay for purchases over time without requiring additional approvals. Splitit serves many of Internet Retailer's top 500 merchants and is accepted by more than 2,800 e-commerce merchants in over 30 countries and shoppers in over 100 countries. Headquartered in New York, Splitit has an R&D center in Israel and offices in London and Australia. The company is listed on the Australian Securities Exchange (ASX) under ticker code SPT.

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.

Media Contact:
Brian Blank
brian.blank@splitit.com

 

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SOURCE Splitit USA, Inc.

FAQ

What position did Splitit rank in the Deloitte Technology Fast 500?

Splitit ranked 66th in the Deloitte Technology Fast 500 for 2021.

What was Splitit's revenue growth percentage reported in the press release?

Splitit reported a revenue growth of 2,486% from 2017 to 2020.

When was the press release about Splitit's ranking published?

The press release was published on November 17, 2021.

What is the ticker symbol for Splitit?

The ticker symbol for Splitit is SPT.

What is the focus of Splitit's payment solution?

Splitit's payment solution empowers consumers to use existing credit for payments without additional applications or fees.