Riyadh – Sharikat Mubasher: Deloitte Middle East has unveiled the results of its fourth annual Technology Fast 50 program, spotlighting the region’s fastest-growing tech companies based on revenue growth over the past four years.
This year’s edition set a new benchmark, attracting over 200 applications for the first time from across the Middle East and Cyprus—a sign of the region’s maturing startup ecosystem.
Saudi Arabia emerged as the top contributor, representing 30% of the ranked companies, followed by the UAE (28%) and Cyprus (16%). The average growth rate across the Fast 50 list soared to 8,823%, with nearly 30 companies surpassing 1,000% growth, up from 21 in the previous edition. The fastest-growing company posted an impressive 20,164% growth.
Fintech (22%) and Software (31%) continued to dominate the rankings, reflecting strong demand for digital-first solutions. The Top 3 companies hailed from Cyprus and Saudi Arabia, while the Rising Star category, which honors high-potential young firms, was led by entries from the UAE and Saudi Arabia.
Several innovative Saudi companies earned spots in this year’s Fast 50, including:
- Mrsool’s delivery tech spin-off, Mr. Mandoob
- HRTech firm KABi
- AI solutions provider Wakeb
- Cloud accounting platform Qoyod
- Call center tech startup Maqsam
- Fintech startup Arib
- InsurTech firm Desaisiv
- Engagement tech company Merit Incentives
- Expert Vision Consulting (EVC)
- Environmental tech firm Libelium
- Business intelligence platform Linkers
- Consumer electronics player Zension Technologies
- POS systems provider LazyWait
Progress in diversity was also noted. Women-led companies made up 18% of this year’s list, up from 15% in 2023. Deloitte’s Women in Leadership category once again spotlighted female-founded ventures meeting the Fast 50 criteria.
A new addition this year, the Kiyadat category, celebrated GCC national founders, reflecting growing local leadership in the tech space. Meanwhile, the Impact category, focused on ESG-driven companies, introduced an independent jury to evaluate nominees on impact, excellence, and implementation.
Mutasem Dajani, CEO of Deloitte Middle East, commented: “The Fast 50 program showcases what’s possible when vision meets execution. We are proud to support these founders as they shape a more connected and resilient regional economy.”
To celebrate this year’s winners and foster new connections, Deloitte will host a series of Fast 50 Connect events across the region in May, bringing together investors, corporates, and peers from the wider network.