payabl. recognised as the fastest growing payments company in Cyprus
11:35 - 03 May 2023
International PayTech payabl., headquartered in Cyprus, has made it on the 2nd edition of the Deloitte Technology Fast 50 - ranking #7 and #1 fastest growing payments company in Cyprus.
payabl. is an international acquirer that enables businesses to take payments easily, reliably, and securely. Through its holistic payments offering and extensive expertise, payabl. enables businesses to grow, positively transforming the communities they engage in.
Running for the second year, the Deloitte Technology Fast 50 program celebrates and recognises the fastest-growing technology companies that have their headquarters either in the Middle East or Cyprus. This year they received nearly 100 applications from the Middle East and Cyprus across Software, FinTech, Media & Entertainment, and other sectors. payabl. is a leading PayTech with regional offices in Germany, Cyprus, Netherlands, Italy, Poland, Lithuania, and the UK.
The average growth of all the ranked companies is 277 percent, generating $800M in total annual revenues during 2021-2022.
Despite supply chain disruptions, the sharp rise in inflation, energy prices and interest rates, the Middle East and Cyprus economies have demonstrated flexibility, resilience, and ability to deal with adversity in the past few years. An outstanding achievement, payabl. has shown that even in times of uncertainty, tech companies can adapt and capture phenomenal growth.
Ugne Buraciene, Group CEO of payabl. says: “We are delighted to be among the 50 fastest growing tech companies in the Middle East & Cyprus, ranked by Deloitte Technology Fast 50 program and the #1 fastest growing payments company in Cyprus. This well-deserved recognition is a testament to our hard work, dedication, and innovation in the payments industry.”
David Stark Partner, Deloitte Private Leader, Deloitte Middle East commented: “It is exciting to see the pool of companies participating in this year’s program with regional entrepreneurs exploring a wide variety of fields and developing innovative solutions that address different business challenges.”
Established in 2011, payabl. is a leading payments institution with regional offices in Germany, Cyprus, Netherlands, Italy, Poland, Lithuania, and the UK. Through its holistic payments offering payabl. can facilitate transactions from 300+ payment methods. Through its extensive expertise-tech, high-providing future-ready payment solutions for merchants from a wide range of sectors around the world. With unrivalled experience in helping clients navigate the complexity of an evolving payments environment - payabl. is the trusted partner for the world’s largest merchants to unlock growth.