True Potential named fastest growing FinTech firm for third year running

True Potential named fastest growing FinTech firm for third year running

Tyneside firm True Potential is the UK’s only financial technology (FinTech) firm to make it into Deloitte’s Technology Fast 50 for three years in a row, based on revenue growth.

The annual awards ceremony was held in London on November 17 to recognise and rank the 50 fastest growing technology companies in the UK. 

Newburn-based True Potential employs 310 people and its revenues have grown by 336% from £13m in 2012 to £56.7m in 2015. The firm’s saving and investing technology is used by 20% of all UK financial advisers and by approximately two million consumers. 

More that £52bn of clients’ investments are administered by True Potential and the firm partners with eight of the world’s largest fund managers, including UBS, Goldman Sachs, Allianz and Schroders. 

The award completes an excellent year for True Potential, in which the firm has seen £1.4bn invested so far in its own range of 10 investment portfolios, which are among the most diversified anywhere in the UK.  

True Potential has also seen continued success with its world-first impulseSave investments top-up technology, which is on course to see £60m of new money invested by the end of 2015.

Neil Johnson, senior partner at True Potential, said: "Making it into the prestigious Deloitte Fast 50 for three years in a row is an outstanding achievement. I put our success down to the way we do business because we remain very entrepreneurial and nimble. 

"Sooner or later in business, you have to turn an idea into a profit and sadly some FinTech firms fall at that hurdle. I am incredibly proud of the team and that we are the only firm to make it into the Technology Fast 50 for three years running. This underlines that being profitable and growing revenues consistently is a huge challenge but if you have the right skills and the best products, it is achievable."