Company attributes strong year-over-year revenue growth to its Financial Identity as a Service (FiDaaS) platform, now used in 26 countries across four continents
SAN FRANCISCO, November 13, 2019 — Juvo, the pioneer of Financial Identity as a Service (FiDaaS) technology, today announced it ranked #121 on Deloitte’s Technology Fast 500™, a 25 year ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. Juvo was recognized for an impressive three year growth rate that exceeded 1,000% as the company expanded across 26 countries in four continents.
Unlike traditional credit scoring and lending, Juvo’s FiDaaS technology uncovers alternative credit data through partnerships with mobile operators and financial institutions in emerging markets. Using machine learning, Juvo builds financial identities that allow billions of unbanked and underbanked consumers to qualify for financial services, often for the first time. To date, the company has created more than 250 million financial identities, using 5.6 billion data points constructed in real time.
“It’s been an exciting year for Juvo as we’ve seen continued growth through new partnerships across new regions, including India and Brazil,” said Steve Polsky, founder and CEO of Juvo. “We’re honored to be recognized by Deloitte for the phenomenal growth we’ve experienced and we’re excited for what the future will bring, as we continue to expand our offering to new markets and deliver financial opportunities to those who have previously been completely anonymous to formal financial services.”
“This year marks the 25th anniversary of Deloitte’s Technology Fast 500, so we are especially pleased to announce and congratulate the 2019 winners,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “Once again, we saw innovation across the board, with software companies continuing their dominance of the top ten. It’s always inspiring to see how the Fast 500 companies are transforming business and the world we live and work in.”
Juvo was also recognized by Juniper Research, winning the “Fintech Innovation: Best Lending Platform 2019 Platinum” award at Juniper’s Fintech & Payments Future Digital awards. Juvo was also awarded the “Judges Choice: Socially Responsible Fintech Company of the Year” award, recognized for the impact of its FiDaaS platform in emerging markets. Juvo is a World Economic Forum Technology Pioneer, and was also recognized this year for strategic excellence by Frost and Sullivan.
About Deloitte’s 2019 Technology Fast 500™
Now in its 25th year, Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2015 to 2018.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $US50,000, and current-year operating revenues of at least $US5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
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