Indian electric-vehicle platform Zypp Electric has emerged as the number one company in the list of Asia-Pacific 2024's fastest-growing businesses.
This is the sixth annual ranking of 500 high-growth Asia-Pacific companies - a list compiled by the Financial Times and data company Statista.
While Zypp Electric topped this year’s list, the second-placed company is BigHaat, an Indian agritech firm.
South Korea has the most growth companies in the list -- 123 in total. Japan ranks second with 101 companies and Singapore ranks third with 93 companies.
India occupies the fourth place with 71 companies. Here's a list of 22 Indian companies that made it to the top 100:
| Rank | Company | Sector | |
|---|---|---|---|
| 1 | Zypp Electric | Logistics & Transportation | |
| 2 | BigHaat | "Agriculture | Forestry & Fishing" |
| 9 | SafeGold | "Fintech | Financial Services & Insurance" |
| 12 | Recykal | Waste management & recycling | |
| 21 | SafexPay | "Fintech | Financial Services & Insurance" |
| 22 | Scaler | Education & Social Services | |
| 26 | Svamaan Financial Services | "Fintech | Financial Services & Insurance" |
| 27 | M2P Fintech | "Fintech | Financial Services & Insurance" |
| 31 | Aays Technologies | Management Consulting | |
| 34 | Greedygame | Advertising & Marketing | |
| 45 | Binmile | IT & Software | |
| 46 | Skillmatics | Ecommerce | |
| 51 | New Street Tech | "Fintech | Financial Services & Insurance" |
| 52 | Credit Fair | "Fintech | Financial Services & Insurance" |
| 63 | Reflections Info Systems | IT & Software | |
| 67 | Lead | Education & Social Services | |
| 79 | Servify | "Fintech | Financial Services & Insurance" |
| 90 | Pernia's Pop-up Shop | Apparel & Fashion | |
| 95 | Vervali | IT & Software | |
| 96 | NowPurchase | Metals & Mining | |
| 97 | Tiger Analytics | Management Consulting | |
| 99 | Ace Trust In Solutions | "Fintech | Financial Services & Insurance" |
Check the full High-Growth Companies Asia-Pacific 2024 list here
How Companies Are Selected
The ranking is based on revenue growth of companies between 2019 and 2022.
Application Phase
The project was advertised both online and in print for eligible companies to register through the websites by Statista and the Financial Times. Statista also identified potential candidates for the ranking from Asia-Pacific through research in company databases and other public sources. The application phase lasted from June to October 2023.
Criteria for Inclusion
Companies needed to meet specific criteria to be listed as fast-growing companies in the Asia-Pacific region like revenue thresholds for 2019 and 2022, organic revenue growth, independence, and headquarters in one of 13 specified territories.
Calculation of Growth Rates
Growth rates were calculated based on the revenue figures submitted in national currencies and converted into US dollars for ranking comparability.
Evaluation and Quality Assurance
All reported data underwent processing and verification by Statista. Companies failing to meet inclusion criteria were excluded and a final list was prepared.
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