Illegal arms sales, smuggling, and organised crime such as drug trafficking, people trafficking and prostitution rings, can generate huge amounts of money, as can ‘white collar crimes’ including, insider trading, bribery and computer fraud schemes.
The FT 1000 lists the European companies that have achieved the highest compound annual growth in revenue rate from 2016 to 2019. SmartSearch is ranked at 700, off the back of an absolute growth rate of 227.2% across the period.
According to the FT, Europe’s high-growth companies are facing another year of slower progress as the pandemic continues to limit business activity in 2021. This is reflected in the qualifying compound annual growth rate for the list which was 35.5 per cent this year, slightly lower than last year’s 38.4 per cent.
However, SmartSearch’s achievement as a fintech firm is mirrored in the wider list as technology firms dominate the rankings with a total of 290.
James Dobson, marketing director at SmartSearch said: "For the third year running this is a fantastic achievement for SmartSearch and all our dedicated staff.
“It is very much a reflection of our business performance last year as 2020 was a record year for SmartSearch, driven in part by the demand for our solution in light of the coronavirus outbreak, which of course dominated everything.
“But in our sector particularly, the need for protection against criminals taking advantage of the gaps that opened up in customer onboarding security and ID verification, was acute.
“We have achieved this result through a best-in-class product but also through our commitment to outstanding customer service. We have a 98% client retention rate which has provided a firm basis for the strong growth we have experienced in recent years.
“With our client numbers rising over the 5,000 mark in 2020 and expansion into North America now at full tilt from our office in Utah, we expect to continue to rise further up the rankings.”
The full FT 1000 list can be found at: https://www.ft.com/content/8b37a92b-15e6-4b9c-8427-315a8b5f4332