International paytech company payabl. has been ranked as one of the top 50 fastest-growing technology companies in the Middle East and Cyprus, according to the Deloitte Technology Fast 50 programme.

This year, the programme received almost 100 applications across various sectors, including Software, FinTech, and Media & Entertainment.

Despite the economic challenges posed by supply chain disruptions, inflation, and energy prices, payabl. was able to secure a spot in the rankings, placing seventh overall and the fastest-growing payments company in Cyprus.

“We are delighted to be among the 50 fastest growing tech companies in the Middle East & Cyprus, ranked by Deloitte Technology Fast 50 program and the number 1 fastest growing payments company in Cyprus. This well-deserved recognition is a testament to our hard work, dedication, and innovation in the payments industry, ” the Group CEO of payabl. Ugne Buraciene said.

The company’s growth is attributed to its holistic payments offering and extensive expertise, which enables businesses to take payments easily, reliably, and securely.

Headquartered in Cyprus, payabl. is a leading PayTech with regional offices in Germany, Netherlands, Italy, Poland, Lithuania, and the UK. The company’s outstanding achievement is a testament to the flexibility and resilience of the Middle East and Cyprus economies, which have demonstrated the ability to deal with adversity in recent years.

“It is exciting to see the pool of companies participating in this year’s program with regional entrepreneurs exploring a wide variety of fields and developing innovative solutions that address different business challenges,” the Partner and Deloitte Private Leader for the Middle East region David Stark stated.

With an average growth rate of 277 per cent and total annual revenues of $800M during 2021-2022, the Deloitte Technology Fast 50 programme celebrates and recognizes the fastest-growing technology companies in the region. payabl.’s success showcases the adaptability and growth potential of tech companies, even in uncertain times.

Through its innovative and customer-focused approach, payabl. aims to empower businesses to positively transform the communities they engage in.