Savvy, innovative firms top fastest growing list in S'pore

They come from various sectors like support services, retail; many use tech to meet changing consumer needs    

- Sue-Ann Tan

Being savvy and meeting consumer demands through innovation and technology have propelled some companies in Singapore to the top, according to a list of the fastest growing firms here released today.

The ranking, which was compiled by The Straits Times and global research firm Statista, showed that the top 10 firms came from a variety of sectors, including support services, precious metals recycling and retail.

Many of the firms harnessed innovative technologies and solutions to meet consumers’ changing needs, especially during the Covid-19 pandemic.

The companies were ranked by their compound annual growth rate. They had to meet certain criteria for potential inclusion in the list, such as having generated revenue of at least $150,000 in 2017 and at least $1.5 million in 2020.

The study conducted last year – the fourth since the first iteration of the list in 2018 – compiled a league table of 75 local companies that achieved high revenue growth between 2017 and 2020.

Human resources platform provider Workmate topped the ranking this year, with a compound annual growth rate of 345.6 per cent.