Rechargeitnow tops Deloitte’s Technology Fast 50 list, Internet companies on the rise

Online Recharge Service Pvt. Ltd that operates online recharge portal Rechargeitnow was declared as overall winner in the Deloitte’s 8th Technology Fast 50 India Program for its 5227 % revenue growth over past 3 years.  Amagi Media and Prizm Payment announced as second and third winner for their 1947 % and 1190 % growth in their revenue.

The program recognizes 50 fastest growing firms across technology, Media & Telecommunication industries based on their percentage revenue growth over the past three financial years despite of economic uncertainties and downturns. The average percentage of growth for all top 50 companies this year stood at 432 %, an  increased of 196 %  from  236 % in 2011.

Launched in 2009, currently Rechargeitnow powers 3 million recharge every month and had crossed 5 million registered users in this month. The company claimed to have crossed Rs 600 crores worth of transactions and added 3 million registered users in the last 16 months. On the other hand, Prizm Payments, an Electronic Financial Transaction Services (EFT Services) provider claimed in March 2012 to complete deployment, management and maintenance of over 10,000 ATMs across India.

As compared to previous edition of Technology Fast 50 India , this year Internet based companies topped the winner’s composition with 18% representation, up by 8% from 10% in 2011. While Media & Entertainment industry performed consistent, biotechnology and telecommunications/networking companies witnessed marginal decline in the winners’ composition.

According to program’s Intra-sector insights ecommerce service providers like payments technologies have been receiving significant traction and will attract a new wave of investment. App development is gaining momentum in the country as iOS and Android platforms open global monetization opportunity for Indian developers.

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