Ray Nolan’s XSellco tops 2018 Deloitte Technology Fast 50

5 Nov 2018

Tech start-up supremo Ray Nolan. Image: Jason Clarke Photography

Ray Nolan still has the Midas touch when it comes to building tech start-ups.

E-commerce start-up XSellco, founded by tech entrepreneur Ray Nolan, has come first place in the Deloitte Technology Fast 50 rankings.

The company, which came second last year, achieved a growth rate of 2,874pc. XSellco’s platform consolidates incoming queries and order data from sales channels such as Amazon, eBay and Walmart, as well as the user’s own web store.

XSellco was founded by technology entrepreneur Ray Nolan and launched its first products in mid-2014. Nolan is a highly successful Irish technology entrepreneur, who created companies such as Web Reservations International and Hostelworld. Hostelworld floated publicly in 2015, raising €180m.

Another Irish e-commerce business, eShopWorld, after topping the rankings for the previous three years in a row, achieved second place in this year’s rankings.

Cumulatively, the 2018 Fast 50 winners generated approximately €2.5bn in total annual revenues in 2017. The average revenue of companies featured in the ranking was approximately €5m, while the average growth rate of the companies over the last four years was 373pc.

Compared with last year, there are 17 new companies on the ranking. 12 of these are first-time entrants, while five companies have re-entered the list, having featured in previous years.

“We know that these companies are operating in an uncertain international marketplace,” said Deloitte Ireland partner David Shanahan.

“And yet they are prospering against this backdrop; in fact, it was particularly evident this year that the vast majority of revenues for the ranking companies are coming from export markets. This demonstrates the impact Irish indigenous tech companies are having in global markets.”

The 2018 winners

MAdme Technologies picked up the Disruptive Technology Award in association with Facebook while the Innovative New Technology Award in association with Google went to DesignPro Automation.

Anam Technologies picked up the Export Award in association with Intel, and the Impact Award in association with PayPal went to i3PT Certification.

Triona Mullane of MAdme Technologies won the Leading Female Award in association with Vodafone.

Meanwhile, Fenergo won the Fintech category in association with Silicon Valley Bank.

Here is the 2018 Deloitte Fast 50 in full:

1. XSellco Dublin
2. eShopWorld Dublin
3. MAdme Technologies Dublin
4. i3PT Certification Dublin
5. HomeSecure Dublin
6. LearnUpon Dublin
7. Future Finance Dublin
8. Mobacar Kerry
9. Spearline Cork
10. Repstor Antrim
11. Fenergo Dublin
12. Welltel Dublin
13. SilverCloud Health Dublin
14. Made to Engage Antrim
15. ThinScale Technology Dublin
16. Aspira Cork
17. Granite Digital Cork
18. Ozaroo Antrim
19. DesignPro Automation Limerick
20. Arkphire Dublin
21. AccountsIQ Dublin
22. Wolfgang Digital Dublin
23. Asystec Limerick
24. Lucid Interactive Derry
25. Roomex Dublin
26. Anam Technologies Dublin
27. Phorest Dublin
28. Neueda Antrim
29. GeoPal Solutions (GeoForms Software) Dublin
30. SL Controls Sligo
31. Click&Go Dublin
32. First Derivatives Down
33. Intact Software Louth
34. Action Point Innovation Limerick
35. Integrity360 Dublin
36. Kelsius Donegal
37. Learning Pool Derry
38. Intellicom Offaly
39. Marino Software Dublin
40. Data Solutions Dublin
41. Export Technologies Antrim
42. AquaQ Analytics Antrim
43. Flint Studios Antrim
44. Global Shares Cork
45. Ocuco Dublin
46. TransferMate Kilkenny
47. Decision Time Antrim
48. Tascomi Down
49. ITQuotes Dublin
50. The Web Bureau Antrim

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years