Indian peer-to-peer lending platform Lendbox has taken the top spot in the Financial Times and Statista’s ranking of 500 high-growth Asia-Pacific companies. The ranking recognizes companies that have achieved exceptional revenue growth between 2020 and 2023. Lendbox, which was founded in 2015, achieved a compound annual growth rate (CAGR) of 536% and revenues of $51 million in 2023. The company, which received regulatory approval from the Reserve Bank of India (RBI) in 2019, has emerged as a leader in digital lending.
The ranking highlights India’s growing economic footprint in the Asia-Pacific region, with 80 Indian companies making it to the list. Other notable Indian entries include BluSmart, Meesho, Titan Company, Aditya Birla Capital, and Havells. The top three regions, Singapore, Japan, and South Korea, had the most companies on the list, with each having at least 90 entries.
The ranking was dominated by IT and software companies (27%), followed by financial services (10%), and advertising and marketing (5%). To qualify for the list, companies had to generate at least $100,000 in revenue in 2020 and $1 million in 2023, operate independently, be headquartered in one of the 13 Asia-Pacific territories, and achieve growth through organic means rather than acquisitions. Overall, the ranking provides a snapshot of the region’s thriving business ecosystem, with Lendbox’s success being a testament to India’s growing influence in the region.