Optal, a global leader in optimising B2B transactions, has been named as one of the UK’s fastest-growing private fintech companies in terms of international sales.
The firm was placed 47th on the prestigious Sunday Times HSBC International Track 200 list, alongside popular high street names such as Caffe Nero, BrewDog and Mountain Warehouse.
To qualify, firms must have total sales in the most recent year of at least £25m, with international sales comprising at least 5% of this figure.
“We’re delighted to be named in the top quarter of the Sunday Times HSBC International Track 200 list. It’s testament to the great work we’re doing revolutionising B2B payments for organisations around the world,” said Andrew Downes, General Manager Europe. “For too long supplier payments have been seen as a cost of doing business. We’re turning that idea on its head, and have rapidly gained a reputation for finding process inefficiencies you didn’t know existed.”
Optal optimises across the entire B2B payment journey, freeing up hidden working capital and even turning cost centres into revenue streams for clients — all while reducing data security and fraud risk.
Its Virtual Account Numbers (VANs) are 16-digit, single-use card numbers that can be used to pay suppliers. It’s a much faster, simpler and more secure system than legacy bank transfers and cheque payments — especially those made internationally.
Optal’s latest achievement comes just weeks after the firm was named 18th in the latest Sunday Times BDO Profit Track 100 — a long-running initiative ranking the UK’s private companies with the fastest growing profits over the past three years.
Previous Sunday Times HSBC International Track 200-listed firms include Specsavers, which featured in 2015 with international sales of £593m, and IHS Markit, which completed a $13bn merger with analyst firm IHS in 2016.