ENCINO, Calif., March 16, 2021 (Newswire.com) - In its second annual list, Inc. Magazine has named PaymentCloud as No. 78 on the Inc. 5000 Regionals: California list. This marks the second time the LA-based fintech startup has been included on an Inc. Magazine list for exponential growth. Each year, the list recognizes the fastest-growing private companies specific to their region. In 2020, PaymentCloud was ranked No. 295 for the prestigious Inc. 5000 Fastest-Growing Private Companies in America list. Since then, the payments company has expanded each department, averaging three new team members per department.
With a growing team and a newly upgraded office space, CEO Shawn Silver was overjoyed at the ranking, "Making this year's regionals list has been a dream come true." He went on to highlight the significance of this list, "Growing a business anywhere is risky, but to knock it out of the park in California is another story. This recognition exemplifies our commitment to serving our merchants with the highest efficiency."
The companies on this list show encouraging rates of growth across all industries in the state of California. Between 2017 and 2019, these private companies had an average growth rate of 535 percent and, in 2019 alone, they employed more than 40,000 people and added nearly $7 billion to the California economy, with Los Angeles being a major contributor. Complete results of the Inc. 5000 Regionals: California, including company profiles and an interactive database that can be sorted by industry, metro area, and other criteria, can be found at https://www.inc.com/inc5000/regionals/california.
"This list proves the power of companies in California no matter the industry," says Inc. editor-in-chief Scott Omelianuk. "The impressive revenues and growth rates prove the insight and diligence of CEOs and that these businesses are here to stay."
More about the Inc. 5000 Series California
The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Today's announcement marks Inc. Magazine's second annual Inc. 5000 Regionals: California list, the most prestigious ranking of the fastest-growing California-based private companies. Born of the annual Inc. 5000 franchise, this regional list represents a unique look at the most successful companies within the California economy's most dynamic segment — its independent small businesses. While 5,000 companies are recognized, thousands more submit their credentials to be featured on this prestigious series.
PaymentCloud has quickly established itself as a maverick in the payments industry. With 67 employees in a 17,000-square-foot creative space in Encino, California, this dynamic group of young payment professionals facilitates credit card processing for merchants spanning a multitude of industry types. An easy application, transparent approval process, and hundreds of integration options set PaymentCloud apart from stodgy competitors. They work with over 80% of top digital ISOs who utilize the hard-to-place program for its seamless submission process, efficient onboarding, and robust management tools.