Norwich-based comparison site Knowyourmoney.co.uk among fastest growing tech firms
PUBLISHED: 16:02 14 September 2017 | UPDATED: 16:02 14 September 2017
A Norwich firm has been named among the fastest growing tech companies in the UK as it aims to take on the big comparison websites.
Know Your Money, which is run by Queen Street-based Notice Media, has grown rapidly and is aiming to keep the trend going by targeting the small business market.
The fintech firm was named in the top 100 of The Sunday Times Tech Track after seeing sales growth of 44% during the last three years – taking the group’s turnover to £8.4m.
The rapid expansion seen in the last three years is some way from the company’s beginnings when its three founders started out with a £5,000 credit card and £5,000 of their own money more than 10 years ago.
Commercial director Jason Tassie said: “With the size of the company we have been able to be agile to changing market trends and be flexible when new products come out.
“We have been doing a lot in the small and medium enterprise (SME) space which is not well covered by our competitors.
“You have a lot of SMEs going online to find products now when they might have gone to their local broker in the past so it is a growing market.”
While the company is Norwich-based and uses local talent, its market is UK-wide and Knowyourmoney.co.uk has to compete with businesses such as Go Compare and Compare the Market.
“We don’t take any personal data, unless it is required to give a fair comparison for something like a mortgage, so it is faster and you don’t have to worry about who will contact you,” Mr Tassie said.
He added a focus on search engine optimisation and building the brand was important as many of the visitors to the site came from Google.
Mr Tassie said he expected the 18-strong team to grow to 25 in the next 18 months as the company continued to expand. He said he expected turnover to break the £10m mark next year with the business to business market remaining a key focus.
Fellow Norwich business Epos Now, which sells point-of-sale software, also featured in the tech track list.
The Future50 company has grown sales by 81% in three years and now turns over £13.9m a year with 293 employees across its Norwich, Florida and London offices.