Top 10 highest growth companies in Singapore 2021

By Kate Birch
With Singapore a startup superstar due to its supportive and entrepreneurial ecosystem, we chart the top 10 highest growth companies in the city-state...

With Asia Pacific proving to be one of the fastest regions to emerge from the pandemic, we chart the top 10 highest growth companies in the city-state.

This top 10 is based on FT’s annual ranking of 500 of the highest-growth companies in APAC, in partnership with Nikkei Asia and Statistia, which ranks companies by their compound annual growth rate (CAGR) in revenue between 2016 and 2019. 

The 500 ranking sees Singapore in third place with 72 companies and with a Singapore company ranked as #1 in the top 500 list. 

Among the sectors in this top 10 high-growth companies in Singapore are tech, ecommerce, travel & leisure, retail, health, transport, sustainability and telecoms. 

10: Nium...

Ranked #50 in FT's 500 listing across APAC, Nium is a next-generation fintech platform from Singapore-headquartered fintech startup InstaReM, founded in 2014, that enables companies worldwide to unlock new revenue opportunities and improve cash flow economis. A leader both in its geographical and its payment service breadth, owning licences in the world’s largest and fastest-growing economies, its modular platform allows, banks, payment providers, travel companies and other businesses to collect and disburse funds in local currencies to over 100 countries. 

Nium is part of CB Insights Fintech 250 which highlights the most promising Fintech companies globally and today, Nium serves more than 130 million customers and enables platforms to provide access to financial servitor over 3 bllion people worldwide. IN the last quarter of 2020, the company handled up to US$2.1bn transactions and aims to hit US$6bn in the fourth quarter of 2021.  

09: WAVE Life Sciences...

Ranked #35 in FT's 500 listing across APAC, biotech firm WAVE Life Sciences is a clinical-stage genetic medicines company committed to delivering life-changing treatments for people battling devastating diseases. The Singapore-headquartered biotech, founded in xxx, is leading a new era of precision medicine where rationally designed oligonucleotides are the key to delivering safer, more effective medicines, including potentially transformational therapies for conditions where there are currently few or no treatment options. The company, which floated on the Nasdaq in 2015, has a partnership with Takeda Pharamceutical focused on developing treatment for central nervous system disorders. 

08: Coda Payments...

Ranked #28 in FT's 500 listing across APAC, Coda Payments is Singapore’s fastest-growing fintech firm helps digital content providers such as Tencent, Netflix and Tinder across 30 countries monetise their products and services via payment channels. Founded in 2011 and Singapore headquartered, the 300-strong company has a network that extends throughout Southeast Asia, from Hong Kong and Manila to Jakarta and Bangkok, as well as worldwide, from LA to Moscow. In 2020, Coda was named a Technology Provider by the World Economic Forum, a prestigious status with past recipients including Google, Twitter and Airbnb.  

07: BR Metals...

Ranked #23 in FT's 500 listing across APAC, BR Metals is an industry-leading specialist of precious metals recycling. Specialising in the recycling of Platinum Group Metals and one of Asia’s largest processors of end-of-life catalytic converters. Founded in 2009 to provide a sustainable and efficient alternative to deep-earth mining, the company, which has processing facilities in both Singapore and China now recovers 80,000 troy ounces of PGM annually from spent materials like catalytic converters, diesel particulate filters, spark plugs, and oxygen sensors, returning them to the circular economy. 

The company also offers valued-added services such as metal hedging and logistics to its suppliers. Between 2016 and 2020, the copany’s revenue rose from US$4.8m to US$130m. the company is looking at diversifying into recycling electronic waste (ewaste). 

06: RedDoorz...

Ranked #19 in FT's 500 listing across APAC, Singapore-based hospitality startup RedDoorz is Southeast Asia’s largest and fastest growing tech-driven hotel management company offering budget stays for travellers. Since its launch in 2015 by a team of senior execs with deep experience in the online travel and hospitality industry, RedDoorz has disrupted the industry by transforming what was a fragmented supply inventory into branded, standardised accommodations and leveraging its mobile app and digital channels to drive strong consumer demand. 

With some 1000 properties now under its belt, RedDoorz has grown into a regional powerhouse with operations in Indonesia, Singapore, the Philippines and Vietnam with growth 5X YOY. Since startup, the company has launched two further brands within its portfolio, the first KoolKost, dubbed an affordable, long-term fully managed community living service allowing customers to rent rooms under flexible leases, and the second, SANS, a trend, economy lifestyle hotel brand. 

05: Blue Wireless...

Ranked #18 in FT's 500 listing across APAC, Blue Wireless is a new generation Wireless Network Provider serving enterprises with LTE/5G based wireless solutions, enabling reliable and flexible connectivity for branches, retail sites, remote locations and the maritime sector in more than 60 countries globally. Born in Singapore in 2015, and with offices in Sydney, Bangkok, Hong Kong, Kuala Lumpur, Delaware, US and the Netherlands, the company’s wireless prodcuts,s ervices and solutions are used across a variety of industries and sectors with key customers including Honeywell, Shell, Chevron, Coca-Cola, DHL, Grab, Canon and Nestle.  

04: Ninja Van Logistics...

Ranked #14 in FT's 500 listing across APAC, Ninja Van Logistics is the largest and fastest-growing last-mile logistics company in Asia Pacific. Founded in 2014 in Singapore by three friends, this tech-enabled multimillion-dollar express delivery company provides services for businesses of all sizes across Southeast Asia, with a network covering six countries including Singapore, Malaysia, Philippines, Indonesia, Thailand and Vietnam. 

Claiming to deliver more than a million packages across the six countries, and with a strong 31,000-member workforce, Ninja Van works with some major ecommerce firms including Alibaba’s Lazada and Indonesia’s Tokopedia. It was the first logistics company in Singapore to provide realptime tracking updates, later harnessing algorithms to optimise route deliveries and save on fuel. The company claims 100% coverage in each of its markets and plans to go live in Brunei laster this year. The company has raised US$400m to date via four funding rounds. Last month the company launched an information drive to protect the public against fraudulent cash-on-delivery parcels. 

03: Roadbull Logistics...

Ranked #9 in FT's 500 listing across APAC, Roadbull Logistics is a B2B fulfilment logistics company that helps merchants shift to ecommerce via a single and unified ecosystem. Founded in 2015, initially offering tech-based last mile services and solutions, Roadbull has evolved to extend fulfilment solutions – storage, pick and pack services to customers through its in-house expanded proprietary systems, which seamlessly streamline the supply chain.  

02: SCI Ecommerce...

Ranked #3 in FT's 500 listing across APAC, SCI Ecommerce is the fastest growing and leading ecommerce solution provider in Southeast Asia. Headquarted in Singapore, but with offices in Indonesia and China and serving the entire Southeast Asia and China market, SCI adopts high-performance marketing concept and management practices to provide end-to-end ecommerce enablement solutions for brands, helping both domestic and overseas brands build up effective online presence in APAC. The company is currently in the martket to raise tends of millions of US dollars from investors ahead of going public. 

01: Carro...

Ranked top (#1) in FT's 500 listing across APAC, , Carro is Southeast Asia’s largest automotive marketplace for pre-owned cars. Founded in 2015 in Singapore, Carro expanded to Thailand and Indonesia in 2017 witnessing exponential YOY growth, with figures doubling in 2017 and again doubling in 2017 and again in 2018. In 2019, Carro closes its Series B funding round at US$90m. 

Carro challenges the traditional way of buying and selling cars with its tech-driven services that use a proprietary pricing algorithm. Carro also provides services that offer a car owner everything they need throughout their car ownership journey and also run the First Car Subscription Service in Singapore. 

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