Loans Canada announced as one of Deloitte's Technology Fast 50 program winners for 2024

TORONTO, Nov. 6, 2024 /PRNewswire/ -- Loans Canada has been recognized by Deloitte's 2024 Technology  Fast 50™ awards program for its rapid growth, entrepreneurial spirit, and bold innovation. 

The program recognizes Canada's 50 fastest-growing technology companies based on the highest revenue growth percentage over the past four years. Loans Canada ranks 44th with 456% revenue growth from 2020 to 2023. 

Deloitte's Technology Fast 50 program winners consist of public and private companies in the technology sector that are transforming the industry. The program runs alongside the broader Deloitte North American Technology Fast 500™, and winners are automatically eligible for this elite ranking. 

Loans Canada's CEO Scott Satov credits his team's agility and the proprietary technology they have built with the company's impressive growth. Satov said, "We are able to quickly adapt to market changes to meet the needs of our customers." CTO Cris Ravazzano adds, "We have already received millions of applications and we are averaging 100,000 applications per month, it is very rewarding to see how our users and partners continue to trust our platform."

"These exceptional Technology Fast 50 winners epitomize the spirit of innovation and entrepreneurial excellence in Canada's technology sector," expressed Anders McKenzie, the National Technology Fast 50 program leader at Deloitte Canada. "By demonstrating remarkable growth rates and showcasing their ability to adapt and thrive in a rapidly evolving market, these companies have distinguished themselves as leaders in their respective fields. Their success not only reflects their own ingenuity and dedication but also contributes to the overall growth and competitiveness of Canada's technology ecosystem. We are proud to celebrate their achievements and recognize them as the driving force  behind the country's technological advancement and economic prosperity." 

To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have a minimum revenue of $50,000 in 2020 and $5 million in 2023, be headquartered in Canada, own proprietary technology, and invest a minimum of 5% of gross revenues in R&D activities that are conducted in Canada. 

About the Deloitte Technology Fast 50 program
The Deloitte Technology Fast 50 program is Canada's pre-eminent technology awards program. It recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology  Fast 50, Enterprise—Industry Leaders, Clean Technology, and Companies-to-Watch. The program also recognizes thriving technology companies in the United States and Canada in partnership with the  North American Technology Fast 500 program. Program sponsors for 2024 include RBCx, Osler, EDC,  CCI, TMX, Clarity, and Lafond. For more information, visit www.fast50.ca. 

About Loans Canada
Loans Canada launched in 2012 as Canada's first loan comparison platform and is the leading nation-wide financial service destination for Canadian rate shoppers. Loans Canada has connected millions of Canadians to personal loan, car loan, home equity and debt relief solution providers. The company helps hundreds of thousands of Canadians compare financial service options every year and with its CompareHub portal provides free credit scores to Canadians.

SOURCE Loans Canada

FFI: Cris Ravazzano, [email protected]