Newcastle IT firm True Potential makes Deloitte UK growth list for third year running

A Newcastle technology company is the only fintech firm in the UK to make the Deloitte Technology Fast 50 list for three consecutive years.

True Potential employs 310 people at Newburn, and has seen revenues grow more than 300% since 2012 to reach £56.7 million in 2015.

The award concludes an excellent year for True Potential, in which it has seen £1.4 billion invested in its portfolios, attracted significant funding from US private equity firm FTV Capital, and increased the volume of assets on its own investment platform to £4.6 billion.

Founded in 2007,  True Potential and its technology is used by 20% of all UK financial advisers and approximately two million consumers.

Senior partner Neil Johnson commented: “Making it into the prestigious Deloitte Fast 50 for three years in a row is an outstanding achievement. I put our success down to the way we do business because we remain very entrepreneurial and nimble.

“Sooner or later in business, you have to turn an idea into a profit and sadly some FinTech firms fall at that hurdle.

“I am incredibly proud of the team and that we are the only firm to make it into the Technology Fast 50 for three years running. This underlines that being profitable and growing revenues consistently is a huge challenge but if you have the right skills and the best products, it is achievable.”

True Potential is one of two North East companies on the Deloitte Technology Fast 50 list, being ranked 49th for revenue growth. Also included is Newcastle ’s Performance Horizon, which was 28th on the list, with revenue growth of 603% over the last three years.