Indian peer-to-peer lending platform Lendbox has secured the top spot in the Financial Times and Statista’s ranking of 500 high-growth Asia-Pacific companies. The ranking recognises companies that have demonstrated exceptional revenue growth between 2020 and 2023.
Alongside Lendbox, 80 other Indian firms made it to the list, highlighting India’s expanding economic footprint in the region. Notable Indian entrants include BluSmart (6th), Meesho (72nd), Titan Company (301st), Aditya Birla Capital (374th), and Havells (396th).
Lendbox, founded in 2015, achieved a compound annual growth rate (CAGR) of 536%, with its revenues soaring to $51 million in 2023. The Delhi-based company, which received regulatory approval from the Reserve Bank of India (RBI) in 2019, has emerged as a leader in digital lending.
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Singapore topped the list with 108 companies, followed by Japan and South Korea, each with 91. Seoul and Tokyo were leading cities, with 75 and 71 entries, respectively. Chinese companies were not included due to challenges in data verification.
The ranking was dominated by IT and software companies (27%), followed by financial services (10%) and advertising and marketing (5%).
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To qualify, companies needed to generate at least $100,000 in revenue in 2020 and $1 million in 2023, operate independently, and be headquartered in one of 13 Asia-Pacific territories. Growth had to be primarily organic, rather than driven by acquisitions.
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