For the third year in a row, Sun Finance, a Latvia-based financial technology company, has been ranked as one of the fastest-growing companies in Europe by The Financial Times, the world’s leading business newspaper. This result allows Sun Finance to become the only Latvian company which has earned a spot in the ranking for three consecutive years.
The Financial Times, a London-based business newspaper, has published its annual FT 1000 ranking, compiled in cooperation with Statista, an independent market research firm. The ranking includes 1000 European companies that over the past four years have achieved the highest compound annual growth rate (CAGR) in revenue. This year, Sun Finance has been ranked as the 25th fastest-growing fintech in Europe.
The Latvian fintech debuted the FT 1000 ranking in 2021, when it was rated as the fastest-growing fintech in Europe. At the time, the company attracted worldwide attention as it had achieved an unprecedented growth in revenue of 618 times or 61 837,8%, a result unbeaten until today. In the following year, Sun Finance managed to retain a record-high growth rate, coming third in the ranking. By conquering the top for the third time this year, Sun Finance has made it among 125 firms that have landed a spot in the ranking for three consecutive years.
“We are delighted to have made it into the top for three years in a row. The top entrants are assessed by looking at their financial results of the previous years. If in the first year we surprised Europe with our record-high CAGR, then going ahead we not only are expected to retain our financial performance but to beat it. To achieve a good result in the ranking, a consistent growth rate is not enough—a company must expand in geometrical progression,” states Toms Jurjevs, Founder and CEO of Sun Finance.
About Sun Finance
Since its inception in 2017, Sun Finance’s services have been used by 11 million people worldwide, and the company has issued close to 2 billion euros in loans. Sun Finance was founded in 2017 by Toms Jurjevs and Emīls Latkovskis, and it operates in eight countries across three continents. The company employs more than 1400 people, 180 of whom work at its headquarters in Riga. Sun Finance is led by a team of seasoned professionals with more than 15 years of experience in managing fintech, financial and IT companies.