Estonia-based company EveryPay, which offers a digital payments platform, has been named one of Central Europe’s fastest-growing technology companies in the annual Deloitte Fast 50 competition.
The seven-fold growth in EveryPay’s turnover between 2016 and 2019 secured the company 35th place in this year’s rankings. Established in 2015, EveryPay is now Estonia’s largest tech-company operating in the field of digital payment solutions. Whereas in its first year of operations a total of 1.87 million euros in payments was processed via its platform, today that figure has grown to more than 320 million euros.
In addition to European recognition, a place in the Fast 50 rankings means EveryPay could also end up on the Deloitte Fast 500 list and thereby make a name for itself outside of Europe as well. “Not only are we constantly developing EveryPay as a product and service here on our home market in the Baltics, but we’re also focusing on international expansion,” explained EveryPay CEO Lauri Teder. “Our aim is to export our payment platform to other European countries. Being named one of the region’s strongest technology companies is very reassuring, and it’s given us a real boost.”
Deloitte Next manager Agur Jõgi says that Deloitte Estonia has always been primarily known on the market as a provider of audit and financial consultation services. “But with the arrival of the Deloitte Next team in Estonia this year, who have their eyes on technological innovation, we’ve gotten a lot closer to new-economy companies as well,” he said. “I’m really pleased that of all the Estonian firms that could have, it’s a tech company like EveryPay that’s made it into our Fast 50 programme, since they bring the worlds of finance and technological innovation together.”
EveryPay has developed a convenient and secure cloud-based platform that helps companies manage their online payments. In addition to bank link payments, the platform can also accept card payments as well as alternative payment methods. This in turn allows local e-commerce companies to gain international clients who do not yet have a bank account in the Baltic region. EveryPay’s latest development is payment processing via open banking API-based payments. This allows companies to service clients from other banks, without the need of an additional bank account. EveryPay’s payment solution is being used by leading banks in the Baltics, such as SEB, Swedbank and LHV.
The Technology Fast 50 Central Europe competition, which has been held annually for more than 20 years, is organised under the aegis of one of the world’s biggest consultation firms, Deloitte. It ranks the 50 fastest-growing Central European technology companies in the public and private sectors based on their sales growth in the preceding four years.
EveryPay is the only Estonian company which made it onto this year’s list. The overall winner for 2020 was the Polish software company Packhelp S.A., which posted 9077% growth in its sales turnover. The full rankings can be found online at https://www2.deloitte.com/ce/en/pages/about-deloitte/topics/technology-fast-50.html.