SHERMAN OAKS, Calif., Aug. 17, 2020 /PRNewswire/ -- Inc. Magazine revealed that finance startup, PaymentCloud, is No. 295 on its annual Inc. 5000 list, the most prestigious ranking of the nation's fastest-growing private companies. The list represents a unique look at the most successful, dynamic, and independent companies within the American economy — its small businesses. This year marks the first time that PaymentCloud has been included on the annual list.
"Being recognized in the Inc. 5000 has highlighted the hard work and dedication of each of our employees. I expect a lot out of our team and they continuously go above and beyond to make the company and its culture better everyday," said Shawn Silver, CEO of PaymentCloud. "Congrats to us and all other honorees, we hope to see everyone on the list again next year!"
Not only have the companies on the 2020 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior lists. The 2020 Inc. 5000 achieved an incredible three-year median growth rate of 165%. The Inc. 5000's aggregate revenue was $209 billion in 2019, accounting for over 1 million jobs between 2016-2019. PaymentCloud has its own staggering figures with a remarkable three-year growth rate of 1,536% as well as placing at No. 13 out of 264 honorees in the Financial Services segment and No. 52 out of 720 honorees in California-based businesses.
"The companies on this year's Inc. 5000 come from nearly every realm of business," says Inc. editor-in-chief Scott Omelianuk. "The 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism." Complete results of the Inc. 5000, including company profiles and an interactive database, can be found at www.inc.com/inc5000.
More about PaymentCloud
With more than 55 employees gearing up to upgrade into a 17,000 sq. ft. space in Encino in the coming months, this dynamic group of young payment professionals facilitate credit card processing for merchants spanning a multitude of industry types. An easy application, transparent approval process, and hundreds of integration options set PaymentCloud apart. While on the partnership side of things, their dedicated department works with over 80% of top digital ISOs who utilize their hard-to-place program for its seamless submission process, efficient onboarding, and management tools at just the click of a button.
More about the Inc. 5000
The 2020 Inc. 5000 is ranked according to percentage revenue growth between 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of Dec. 31, 2019. The minimum revenue required for 2016 is $100,000 and for 2019 is $2 million. As always, Inc. reserves the right to decline applicants. Companies on the Inc. 500 are featured in Inc.'s September issue.
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PaymentCloud is No. 295 on the Inc. 5000 List
SOURCE PaymentCloud, Inc