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True Potential ranked as fastest growing financial and technology services outside London

Wednesday 26th November 2014

True Potential has been ranked as the fastest growing financial and technology services company headquartered outside London in the 2014 Deloitte Technology Fast 50. 
The ranking of the 50 fastest-growing technology companies in the UK are based on percentage revenue growth over the last five years, True Potential picks up top ranking after growing by 837% during this period.
True Potential provides technology and business support services to over 22 per cent of the UK adviser market and financial advisory services for private individuals.
The True Potential group of companies increased turnover to £20.8m in the first half of 2014 – a rise of 87 per cent against the same period in 2013 (£11.1m). January-June delivered £4.9m pre-tax profit for the group, a 104 per cent increase on H1 2013.
True Potential managing partner David Harrison said: “Being ranked as the fastest growing financial and technology services company outside London rounds off what has been an exceptional year for True Potential.” 
“impulseSave® is a world first and it was developed here in the UK. Since we launched it in March, clients have invested more than £6 million. The most exciting result is that over 40 per cent of these investments are £10 or under - proving that technology has the power to change the way we save.” 
David Frith, corporate finance partner at Deloitte in Newcastle added: “The Deloitte Technology Fast 50 gives great profile to technology companies and is internationally recognised as being one of the most important business awards in the sector.  It is an opportunity for technology businesses to gain recognition for their successes and achievements and this year’s ranking highlights the importance of being innovative and finding a niche product or service to succeed.”
“It is interesting that nearly a quarter (24 per cent) of the Deloitte UK Technology Fast 50 entrants have received investment from venture capital or private equity firms over the last five years and there is evidence that companies are increasingly looking to this source of funding. Forty per cent of Deloitte UK Technology Fast 50 entrant CEOs are expecting to access venture capital or private equity funding in the next 12 months.”

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Editorial Contact Details - Conor Shilling
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