Istanbul-listed Aselsan, Kron and Logo take awards in Deloitte Technology Fast 50 ranking

Istanbul-listed Aselsan, Kron and Logo take awards in Deloitte Technology Fast 50 ranking
By Akin Nazli in Belgrade January 20, 2020

Borsa Istanbul-listed defence firm Aselsan and the Logo Yazilim (Logo Software) enterprise have received the Big Stars Award from Deloitte Technology Fast 50 Turkey 2019 ranking, according to local media reports.

Companies which saw revenues at higher than €50mn in the 2018 financial year were ranked in the Big Stars category based on their revenue growth across the past four years.

Logo Yazilim, established in 1984, increased its consolidated revenues by 24% y/y to Turkish lira (TRY) 268mn and its net income by 9% y/y to TRY57mn in January-September 2019, according to its latest financials.

Deloitte has compiled the Technology Fast 50 Turkey list since 2006. So far, Deloitte has only released the top 10 in its latest Technology Fast 50 Turkey ranking. The remaining 40 firms were simply announced in alphabetical order.

Some 37 of the 50 named companies were active in the software sector, four in fintech, three in hardware and two in environmental technologies.

Average revenue growth stood at 748% while 11% of revenues on average came from exports.

A total of 24 companies were between five and 10 years-old while four were older than 20.

Bulutistan placed first in Technology Fast 50 Turkey 2019 with turnover growth of 9,682% across the past four years. It was followed by REM People with 3,868% and Teknofix with 2,822%.

FBT,, software company Pixery, EMFA Software & Consultancy, fintech firm iyzico, Enqura Information Technologies and ISSD were also among the top 10.

Paycell, led by a woman, received the Woman in Tech Award, a debut category focused on companies with more female employees than male that also qualify in terms of turnover growth.

Teknasyon received the Cross Border Award. This is another debut category, with the competitors made up of companies that export higher than 50% of their total sales.

Borsa Istanbul-listed Kron Telekom made the top 50 list for the second year in a row.

Kron Telekom’s turnover grew to TRY27mn in January-September 2019 from TRY6mn in the same period of the previous year, while the company posted TRY2.54mn in net profit versus a net loss of TRY0.94mn in January-September 2018, according to the latest financials.

Inveon won a place on the list for the third year in a row.

Ankaref, Anova, Apsiyon, Barikat, Biletall, Crs Soft, Detaysoft, ETA, Hediyesepeti, Hitit, Hype, Inomera, Infrasis,, Litum, Logsign, Mobven, Obilet, Paycore, PayTR, Peakup, Prosense, RKSoft, RND, Robotistan, Simsoft, Sistem9, Tekna, T-Soft, Tektronik, Testinium, Triomobil and V-count were the other companies named in the top 50.

The companies will compete in the Deloitte Technology Fast 500 EMEA programme.

EMFA Software & Consultancy ranked second in Deloitte Technology Fast 500 EMEA 2018 with 19,381% in turnover growth across 2014-2017. Teknofix ranked 7th with 10,251%. iyzico was in 15th with 5,231%. Pixery ranked 27th with 3,238%. Also on the list were software company Usishi (72nd), Hype (90th), (165th), Armut(167th), Apsiyon (240th), ETA (256th), (290th), Turkcell Payment (294th), ARD Grup (298th), Trio Mobil (308th), Anova (357th), Sistem 9 (364th), Robotistan (366th), RND (381st), PeakUp (383rd), V_Count (394th), Mobven (415th), Cardtek (433rd), APLUS Enerji (453rd) and RKSOFT (485th).