Cyprus companies shine in Deloitte Technology Fast 50

A Cypriot company, Municorn, has topped Deloitte Technology Fast 50 4th Edition-Middle East and Cyprus’ prestigious ‘Fast 50’ list.

More specifically, the software company is one of nine Cypriot companies featured on the ‘Fast 50’ list while local businesses have also been distinguished in other sections of the publication.

In his forward for the publication, Kyriacos Charalambides, Partner, Fast 50 Program Leader, Deloitte Middle East also makes particular mention of Municorn. “Special commendation goes to Municorn, a company that has been steadily featured in our rankings and this year has secured a top position with an astonishing growth rate of 20,164%,” Charalambides says.

Other Cypriot companies on the Fast 50 list included Adopterato, part of the Media and Entertainment Industry, in 23rd place, and Intergo Telcom in 27th place.

Mellow took the 28th spot, fintech’s Ebos in the 32nd and software company Complytek in 37th place.

The 40th spot was held by cloud specialists CL8 with software company Zygos in the 41st spot and Adtech Holding, part of the Media and Entertainment industry, in 42nd.

Part of the fintech sector, Netinfo was in the 46th spot on the list.

A number of Cypriot companies, meanwhile, were included in the ‘Rising Star’ section, with software company Intellar in 13th place.

Moving Doors was in 29th place, software company DISPL in 36th place and e-commerce industry member Buildhop in 38th place.

Next are Rewards, part of the Media and Entertainment sector, in 41st place and fintech Finery Markets in 42nd place on the ‘Rising Star’ list.

A Cypriot company, Sequela, was also among 10 companies listed in the publication’s ‘Impact’ section.

“The 10 companies acknowledged under the Impact category are actively contributing to the well-being of local communities and were evaluated based on impact, excellence and implementation,” Charalambides notes.

Sequela is a SaaS sustainability platform designed specifically for the healthcare sector that works to help healthcare organizations track and reduce emissions, achieve sustainability targets, meet regulation requirements (EU CSRD), and appropriately resource plan to protect patients in climate emergencies.

A Cypriot company, DISPL, was also included among the 19 companies listed in the ‘Women in Leadership’ section. The company provides AI-Powered Audience Analytics and Smart Digital Signage to help companies analyse, engage and monetise offline audiences to increase sales.

The publication’s Kiyadat category recognises companies that fulfill the Technology Fast 50 or Rising Star criteria and are either led by a GCC national CEO or have a founding team comprised of 50% GCC nationals Given the island’s geographic location, it is understandable that a Cypriot or Cyprus-based company was not mentioned among the 21 companies included.

However, Cypriot entities were included in the Spotlight section, which explores a range of insights curated specifically for high growth technology companies across the region.

The bodies mentioned were, ‘ARIS A Really Inspiring Story’, a non-profit organisation established in association with Deloitte Cyprus and sponsored by XM.

Invest Cyprus as well as the Cyprus Research and Innovation Foundation (RIF) were also mentioned in this section.

The full report can be viewed here.