Laybuy named winner of TIN's Rocket Award for 2021
Auckland, 4 November 2021 – Technology Investment Network (TIN) has named Fintech ICT company Laybuy as the winner of this year’s TIN Rocket Award in the 2021 TIN Report, announced today at its virtual launch and awards event.
The TIN Rocket Award recognises the company that has gained the most places in the TIN200 rankings for the year. Laybuy, the global ‘Buy Now Pay Later’ company, climbed 48 places this year with revenue growth of $18.8m (137%) to reach $32.6m, and a 3-year CAGR of 156.4%.
This increase also earned the ASX-listed company a move to the TIN100 and a place on the EY Ten Companies to Watch list for the first time. Laybuy made its debut on the TIN200 last year and was also recognised as an Absolute IT Supreme Scale-Ups company in that year. Founded in 2017, Laybuy listed on the ASX in September 2020.
“There has been significantly less fluctuation in the TIN rankings this year with six companies gaining more than 20 places this year, down from the record 14 last year,” said Greg Shanahan, managing director of TIN. “It’s exciting to see the great strides that Laybuy has made in the past year, and we’ll watch its continued rise with interest.”
Notably, a company from each primary sector, ICT, High-tech Manufacturing and Biotech, are represented in the three companies that have had the greatest movement up the TIN rankings this year. This is also the first time a Biotech company has been included as one of the fastest movers since 2017, with Pacific Edge gaining 36 places.
The TIN Report monitors the performance of New Zealand’s 200 (TIN100 and Next100) largest technology exporters in the areas of Information and Communications Technology (ICT), High-tech Manufacturing and Biotechnology. It is sponsored by New Zealand Trade and Enterprise, Absolute IT, BNZ, EY, James & Wells and NZX.
According to the 2021 TIN Report, the TIN200 companies passed a landmark in 2021, recording $10.4B in export revenue from nearly $14B in combined revenue; signs the tech sector is growing in maturity and vital to New Zealand’s economic success. Revenue growth was more than $1.4B, once again breaking the $1B barrier.
For more information please contact:
Mob. +64 21 522 103
Greg Shanahan, Managing Director, Technology Investment Network
Ph. +64 9 445 0362
Mob. +64 27 435 6045
About the TIN Report
The TIN Report is produced by Technology Investment Network with sponsorship from New Zealand Trade and Enterprise, Absolute IT, BNZ, EY, James & Wells and NZX. The TIN Report is a critical reference for benchmarking the performance of New Zealand’s 200 largest globally focused technology companies. The size of the tech industry has grown significantly since 2005 and in recognition of this, TIN sent surveys to approximately 1,000 companies in 2021.
About Technology Investment Network
Technology Investment Network (TIN) is a private company established in 1999 to facilitate the growth of the technology export sector in New Zealand. The company’s goal is to contribute to the New Zealand economy by supporting the growth of, large, sustainable, New Zealand based, global technology businesses. For more information, visit www.tin100.com