Passport Places Amongst Charlotte’s Fastest Growing Companies for Second Consecutive Year
Charlotte, N.C. (December 7, 2017) — The Charlotte Business Journal (CBJ) has named Passport amongst its fastest growing companies in Charlotte during its “Fast 50” awards ceremony. The fintech company posted an almost 200 percent revenue growth from 2014-2016, placing second in the competition. Previously, the company grew an outstanding 500 percent, winning last year’s award. This is the second consecutive year Passport has been recognized as one of the city’s fastest growing private companies in the area. During tonight’s ceremony held at Hilton Charlotte Center City, CBJ honored 50 companies who collectively contributed millions to Charlotte’s regional economy, according to the business newspaper.
“We are proud of the innovative work we’re doing here at Passport. We work hard to live up to and apply our principles daily — one of our principles is to think simple and scale. We take the complicated, make it clear, and build it to grow. More than anything, we are honored to be listed next to 49 other exceptional companies here in the Charlotte region. We inspire each other,” said Bob Youakim, Passport’s CEO.
The Fast 50 awards program is now in its ninth year. It determines winners using a formula to reflect dollar and percentage growth during a three-year period. Corporations must be independent and privately-held, proprietorship or partnership (not a majority-owned subsidiary or division). According to CBJ, companies applied for inclusion by submitting nominations that included financial performance, and accounting firm CliftonLarsonAllen evaluated the figures provided to determine the rankings. Firms with headquarters in the 16-county Charlotte region and revenue of at least $1 million in 2016 were considered.
Over the past three years, the Passport team has expanded its presence across North America and Europe. It recently launched in large metropolitans including London, Montreal, Las Vegas, Portland, Albany and Detroit. With the company’s continued expansion into the transit and citation management industries, it has also increased service offering for cities, agencies, universities, and private operators.
Passport is the industry’s leading mobile technology solution specializing in enterprise business applications and payments for the public and private sector. Passport’s product lines–parking payments, transit payments, enforcement and permit management–collectively serve to deliver dynamic tools for agencies to better connect with their communities. Its services have been adopted by over 400 agencies on over 3,000 locations globally including Chicago, Toronto, Boston, Portland, Westminster and Miami. Passport’s mission is to reduce operational complexity and deliver intelligent data to improve decision making for its clients.
Passport is backed by a group of investors, including Grotech Ventures, Relevance Capital, and MK Capital. For more information, please visit www.passportinc.com.
Marketing & Communications Manager