Processor Startup Tops Inc’s High-Growth List
A payments company has topped this year’s Inc. 500 list, an annual compendium of the fastest growing companies in the U.S. based on three-year revenue growth.
The nation’s number one fastest growing company, according to Inc., is Unified Payments, a Florida-based processor that’s currently handling $10 billion in payment volume each year. The company’s 2011 revenue total of $59.5 million is up an astonishing 23,646 percent from its 2008 total, the magazine says.
The company founded by Oleg Firer set itself up for growth by acquiring eight “equity-distressed competitors” in 2008, Inc. says. Today, Unified serves 100,000 merchants.
At number six is Capital Payments, an Atlanta company with 11,676 percent growth since 2008, from $472,139 to $55.6 million. Merchant Services, a Florida company, posted $14.1 million in revenue and 7,852 percent growth, for the list’s 18th spot, while Complete Merchant Solutions in Utah generated $17.9 million and 7,531 percent growth over three years for the 19th ranking.
Century Payments is the fifth and final payments company to make 2012’s top 100, with 3,278 percent growth over three years and $42.7 million in 2011 revenues, slotting in at the 87th spot.
Notable payments rankings outside the top 100 include Allied Wallet, at 369 with $4.2 million in 2011 revenues, and Braintree, a 2012 PYMNTS.com Innovation Award winner, at 415 with $9.9 million in revenue last year.