PORTLAND, Ore., Nov. 18, 2020 /PRNewswire/ -- PayRange announced it ranked 83 on Deloitte's Technology Fast 500™, a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and energy tech companies in North America, now in its 26th year. PayRange grew 1,325% during the previous three year period.
PayRange's Chief Executive Officer, Paresh Patel, credits the revenue growth to its passionate team that develops and markets innovative payment technology to an industry ripe for innovation. He said, "The automated retail industry, characterized by small ticket payments made traditionally with cash and coin, had been largely left behind by incumbent cashless payment providers. Recognizing the opportunity and leveraging our industry experience, we invented mobile payment technology designed specifically for this market that not only brought touchless payments to these machines but also elevated the overall experience. We're thankful to our customers for deploying our solution, which is at the forefront of transforming an industry that has otherwise seen little payment innovation in over 50 years."
"For more than 25 years, we've been honoring companies that define the cutting edge, and this year's Technology Fast 500 list is proof positive that technology — from software and digital media platforms, to biotech — truly does permeate so many facets of our lives," said Paul Silverglate, Vice Chairman, Deloitte LLP and U.S. technology sector leader. "We congratulate this year's winners, especially during a time when innovation is needed more than ever to address the monumental challenges posed by the pandemic."
About Deloitte's 2020 Technology Fast 500™
Now in its 26th 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 2016 to 2019.
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 US $50,000, and current-year operating revenues of at least US $5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
PayRange was founded by Paresh Patel, an unattended retail veteran, to provide operators and consumers with a simple and secure mobile payment and loyalty solution for laundry, vending, amusement, and other small-ticket merchants. PayRange is the North American leader in mobile payments for unattended retail. Its investors include Matrix Partners, Nyca Partners, and GV. Find out more at: https://www.payrange.com