New Delhi, Delhi, India | 9th December 2019: Yaantra today announced that it ranked 12th on the Deloitte Technology Fast 50 India 2019, a ranking of the 50 fastest growing technology companies in India. Rankings are based on percentage revenue growth over three years. Yaantra grew at a 526.8 percent during this period.
Yaantra’s exceptional growth has been enabled by the company’s focus in bringing affordable quality smartphones for aspirational audience across the spectrum with doorstep services the other favourable factors such as internet penetration, multiple use cases for smartphones act as a catalyst for increasing smartphone demand making India as an emerging leader in the second-hand mobile market. These factors have resulted in the creation of a growing re-commerce segment. Yaantra has secured an early-mover advantage of this growth factor and created a robust online, offline and retail distribution network. Yaantra’s growth is credited to its vast and growing distribution network combined with an operationally efficient model that enables customers to buy ‘as good as new’ smartphones at affordable price points.
Commenting on the recognition, Jayant Jha, Co-founder and CEO, Yaantra, said, “We are honoured to be recognized as one of the fastest growing technology companies under Deloitte Technology Fast 50 India 2019. We would like to thank our partners and customers for maintaining their trust in us and being a crucial part of our growth journey.”
“Making the Deloitte Technology Fast 50 India ranking is a testament to a company’s commitment to technology,” Rajiv Sundar, Program Director – Technology Fast 50 India 2019 and Partner, Deloitte India. “With its 526.8 percent growth rate over past three years, Yaantra has proven that its leadership has the vision, determination and ability to adapt and grow in a fast-changing environment.”
Deloitte Technology Fast 50 India program selection and qualifications
The Deloitte Technology Fast 50 India program, which was launched in 2005, is conducted by Deloitte Touche Tohmatsu India LLP (DTTILLP), and is part of a truly integrated Asia Pacific program recognizing the India’s fastest growing and most dynamic technology businesses (public and private) and includes all areas of technology – from internet to biotechnology, from medical and scientific to computers/hardware. The program recognizes the fastest growing technology companies in India based on their percentage revenue growth over the past three financial years.
