Fast growing ISOs named to Inc 5000

Inc magazine just published its list of the 5000 fastest growing privately held companies in America, and the list includes at least 15 merchant services ISOs. The Inc 5000 list first appeared in 1982 and each year names a crop of honorees based on three-year cumulative growth rates. “The companies on this year’s Inc 5000 have followed so many different paths to success,” said Inc Editor in Chief James Ledbetter. “There’s no single course you can follow or investment you can take that will guarantee this kind of spectacular growth. But what they have in common is persistence and seizing opportunities.”

“Particularly in a year marked by massive merger activity, this distinction is a tremendous honor,” said First American Payment Systems CEO Neil Randel. A Fort Worth, Texas-based ISO, with $783.9 in annual revenues and a three-year growth rate of 77 percent, First American came in at number 4127 on the Inc 5000.

“Making the Inc 5000 has been a dream of ours, and raking in the top 4 percent is an unbelievable honor and a privilege,” said Suneera Madhani, founder and CEO of Fattmerchant. Headquartered in Orlando, Fla., Fattmerchant charted a three-year growth rate in excess of 1,900 percent to come in at number 217 on this year’s list.

BlueSnap, a Boston-based company specializing in online payments, saw a huge jump in its ranking, moving from 4133 on the Inc list last year to number 1845 this year, based on a three-year growth rate of 220 percent. “Since being included on last year’s Inc 5000 list, BlueSnap has only continued to grow with new strategic partnerships, customer wins and product innovations, and our improved ranking is a direct recognition of all our hard work,” said Ralph Dangelmaier, BlueSnap’s CEO.

Plenty of strong growth

Other merchant services companies named to the prestigious Inc 5000 list this year include:

• Universal Processing LLC, headquartered in New York, which ranked number 500 and has charted three-year revenue growth in excess of 860 percent. “Universal Processing is not the ‘overnight success’ that one hears about of contemporary unicorns and gangbusters startups, but a lesson in determination, focus and perseverance over a dozen years,” said the firm’s CEO, Saint Hung.
• New York-based CardFlight came in at number 908 with three-year revenue growth of 469 percent. “This achievement is the latest indicator of our amazing growth over the past few years,” said Marla Knutson, senior vice president, strategic partnerships.
• Argus Merchant Services, a New York-based ISO with a three-year annual growth rate of 231 percent, came in at number 1766.
• Banquest Payment Systems, a Lakewood, N.J.-based ISO, came in at number 1889, with 213 percent growth over three years.
• AffiniPay, an Austin, Texas-based ISO specializing in payment processing for professional services markets, like accounting and law firms, made the list for the eighth straight year, coming in at number 2459 and charting 161 percent growth in three years. “Making this list for the eighth consecutive year speaks to the incredible relationship we have with our clients and how much they love the industry-specific solutions we created just for them” said CEO Tom West.
• Clearent LLC based in Clayton, Mo., charted 148 percent growth over three years to come in as number 2541.
• North American Payment Solutions, a Mesa, Ariz.-based ISO, ranked number 2738 with 140 percent growth over three years.
• Choice Merchant Solutions, based in Hartford, Conn., came in at number 2744, with a 139 percent three-year growth rate.
• FNB Merchants, a Nashville, Tenn.-based ISO, with 97 percent growth over three years, came in number 3613.
• 360 Payments, a Silicon Valley-based ISO, ranked number 3794 with a 91 percent three-year growth rate.
• Rectangle Health, a New York-based ISO focused on the health-care sector, came in at number 3973, after charting a three-year growth rate of 82 percent. “Our commitment to our customers’ success drives us forward every day,” said CEO Dominick Colabella.
• Boost Payment Solutions, a New York-based ISO, posted a 81 percent three-year growth rate to rank number 3994.

If your payments company made the Inc 5000 list and isn’t included here, please notify Laura McHale Holland at editor@greensheet.com, and she’ll add your business to this list. Please include business name, location, percentage of growth and rank number.

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