Member Article

Harrogate’s Nostrum Group named in Deloitte Tech Fast 50 after reporting 812% growth

Harrogate-based Nostrum Group, an automated loan management software provider, has reported impressive growth of 812% over 5 years.

In May this year Nostrum Group opened a new central London office, and it has recently expanded and consolidated its Harrogate presence into a single site.

The company is currently in the middle of a major recruitment drive and has created a number of new roles at each of these locations.

Nostrum was named in the Deloitte Technology Fast 50 for 2014, having appeared for the first time last year.

Last week the firm was also named in Deloitte’s Technology Fast 500, which ranks the fastest growing firms in Europe, Middle East & Africa (EMEA).

These awards came hot on the heels of Nostrum featuring in the Sunday Times Tech Track 100 list for the first time and, for the second consecutive year, being awarded a place the prestigious FinovateEurope 2015 event in London next February.

The Deloitte Fast 50 and Fast 500 are rankings of the fastest growing technology companies in the UK and EMEA based on percent growth in fiscal year revenue over the last five years.

Nostrumappeared at 35thplace in the list, one place higher than last year, and 211th on the EMEA list, up 12 places from 2013. In both cases Nostrum is the highest ranked Yorkshire-based company on the list.

The Sunday Times Tech Track 100 ranks Britain’s private technology, media and telecoms (TMT) companies with the fastest growing sales over a period of three years.

Richard Carter, chief executive at Nostrum, said: “We are thrilled to receive this recognition from such credible and respected entities as Deloitte, The Sunday Times, and Finovate.

“Our business has seen significant demand for some time now and consequently we have been continually winning new clients. This is what is driving our growth so spectacularly.

These awards are the icing on the cake, but they would not be possible without the considerable efforts and talents of our team and the leading edge technology platform they have created for our clients and their customers.“

Neil Warman, chief financial officer at Nostrum, added: “Nostrum has experienced unprecedented demand for its services in recent years.

“In the most recent financial year we achieved 84% revenue growth, adding £1.6 million to EBITDA compared to the prior year. Something we are very proud of is the fact this has all been achieved without the use of external debt or equity funding.

This was posted in Bdaily's Members' News section by Clare Burnett .