Two Singapore-based start-ups have emerged as the fastest-growing tech companies in South-east Asia, boasting staggering revenue growth rates of 902.09 and 869.61 per cent over three years, Deloitte's 2013 Technology Fast500 Asia Pacific report shows.
MatchMove Global - a B2B platform that allows clients to create their own app stores, games and entertainment sites - is the fastest-growing tech company in South-east Asia and No 25 in Asia Pacific, with a three-year revenue growth rate of 902.09 per cent.
While MatchMove declined to share absolute revenue figures, a company spokesman told BT that revenue for FY2012 was under $10 million. It is optimistic that revenue will continue to increase to under $50 million for FY2014.
"In mid-January, we are launching a mobile commerce product aimed at the large unbanked and uncarded youth market in Asia. This has driven our growth projections higher," said the spokesman.
Also in the spotlight is social media intelligence firm JamiQ. With a three-year revenue growth rate of 869.61 per cent, it is the second fastest-growing tech company in Singapore and South-east Asia, and No 29 in Asia Pacific.
JamiQ also declined to share absolute revenue figures but CEO Michael Lim told BT the company is capitalised adequately and revenues have been substantial enough to support and fund R&D in the last three years without external funds.
Launched in 2009, JamiQ has worked with around 80 global clients, including SingTel, Seagate, Sony, United Overseas Bank, Standard Chartered Bank and the Media Development Authority.
One other Singapore-based start-up also made the list: payment solutions company 2C2P. With a three-year revenue growth rate of 331.78 per cent, it bagged the 100th spot.
"Singapore is generating an increasing number of fast-growing, successful technology companies especially in the Interactive Digital Media (IDM) space. It is rapidly establishing itself as the regional hub for IDM that is well poised to capitalise on the growth of the technology sector in the region's markets," said John Goeres, Deloitte South-east Asia's technology, media and telecommunications industry leader.
The Deloitte Technology Fast500 programme, now in its 12th year, ranks the 500 fastest-growing tech firms in the Asia Pacific region. These firms are all headquartered in Asia, and have been in business for at least three years with a minimum operating revenue of US$50,000 in the first year of the three years analysed.
The top three companies on Deloitte's list are Taiwan's China Communications Media Group, India's Ardom Telecom and Japan's Locondo Inc.