Financial software platform iplicit has bagged a top spot on this year’s FT1000 list of Europe’s fastest growing companies.

The business ranked 18th among UK firms and 103rd on the Europe-wide list, compiled annually by the Financial Times and Statista.

Launched in 2019 and based at Poole’s FOUNDRY coworking space, iplicit provides cloud accounting software for medium sized businesses.

Several members of its team were involved in the successful finance platform Exchequer which emerged out of Bournemouth in the 1990s.

iplicit has since enjoyed a compound annual growth rate of 155.2 per cent and absolute growth rate of 1,561.5 per cent between 2019 and 2022.

The company now plans to double its current daily userbase of 22,000 over the next year ahead of a US launch in 2025.

CEO Lyndon Stickley said: “After five years of triple-digit growth in revenue and user numbers and a string of award wins, iplicit is going from strength to strength.

“We launched the business to fill a gap in the market that was there because the dominant providers of on-premise accounting software were no longer moving with the times. The writing is on the wall for those providers.”

“iplicit offers easier implementation and a compelling price point for organisations with typically 30 to 500 staff, and we expect to continue doubling our userbase year on year.”

• iplicit.com

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