Splitit Named One of the Fastest-Growing Companies in North America on the 2022 Deloitte Technology Fast 500™
Splitit (ASX:SPT, OTCQX:SPTTY), today announced it ranked No. 114 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 28th year. Splitit grew by 1,230% during this period.
Splitit’s chief executive officer, Nandan Sheth credits the growing interest and flexibility of pay-later installments over the past few years with the company’s revenue growth.
“We are truly honored to be a part of this prestigious group for the second consecutive year. Our growth over the last few years highlights the consumer demand for Splitit and other buy now, pay later (BNPL) options,” said Sheth. “Splitit has instituted several exciting changes in the last year that will set us apart from legacy BNPL while accelerating our growth exponentially in the future. We shifted to a white-label model that puts the merchant and consumer relationship front and center. We are working with several exciting distribution partners that will help us scale faster and more efficiently. Finally, we’re unlocking BNPL at the checkout for credit card issuers.”
This is the second consecutive year Splitit made the list, ranking No. 66 in 2021.
To learn more about Splitit’s Installments-as-a-Service platform, visit: www.splitit.com
About the 2022 Deloitte Technology Fast 500™
Now in its 28th 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 2018 to 2021.
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.
Splitit powers the next generation of Buy Now, Pay Later (BNPL) through its merchant-branded Installments-as-a-Service platform. Splitit is solving the challenges businesses face with legacy BNPL while unlocking BNPL at the point of sale for card networks, issuers and acquirers all through a single network API. Splitit’s Installments-as-a-Service platform mitigates issues with legacy BNPL like the declining conversion funnel, clutter at the checkout and a lack of control of the merchant’s customer experience while putting the power back in the hands of merchants to nurture and retain customers, drive conversion and increase average order value. Splitit’s white-label BNPL is the easiest installment option for merchants to adopt, integrate and operate while delivering an uncluttered, simplified experience embedded into their existing purchase flow. Headquartered in Atlanta, Splitit has an R&D center in Israel and offices in London and Australia. Splitit is listed on the Australian Securities Exchange (ASX) under ticker code SPT and also trades on the US OTCQX under ticker SPTTY (ADRs) and STTTF (ordinary shares).
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