Tangerine Telecom Ranked Third in 2021 AFR Fast 100
Tangerine Telecom was today announced as Australia’s third fastest growing company in the Australian Financial Review’s (AFR) Fast 100.
The AFR Fast 100 list is in its 31st year and to be eligible for entry a business must have started trading on or before 1 July 2016 and have had turnover greater than $500,000 in 2016-17.
In 2018, Tangerine was included in the AFR’s Fast Starters - a glimpse of achievements to come.
Entrants were required to provide three full years of revenue data and Tangerine reported FY19 revenue $4.1m, FY21 revenue $18.3m and FY21 revenue $51.2m.
CEO of Tangerine Telecom, Andrew Branson, said the announcement is extremely exciting for the entire team, all of whom have contributed to the company’s success.
“This is great recognition for all the hard work from the entire team in what was a challenging landscape,” said Andrew.
“The whole team has been working from home which has required a huge amount of flexibility and commitment from everyone,” he said
The growth and revenue figures don’t include revenue from sister company More, which recently joined a strategic partnership with the Commonwealth Bank of Australia that will unlock discounts for CBA customers.
“We are now live in-market with offers to some CBA customers, and while this is in its infancy, uptake has been very popular so far and we will rapidly scale in early 2022,” said Andrew.
While FY21 has been extraordinarily successful for the business, recent sales growth predicts the upwards trend will continue.
“We’re expecting this trend of growth to continue with last week being the record week of sales for the business ever which in a maturing market is a real achievement,” said Andrew.
Established in 2013, the business operates from South Melbourne, and is owned by nbnTM veterans Andrew and Richard Branson, Tangerine’s key points of difference are it’s 14 day nbnTM trial, unparalleled service and support, and industry leading online sign-up technology.
Tangerine’s sister business, More, announced its partnership with Commonwealth Bank of Australia in July 2021, which is set to gradually introduce discounted nbnTM offers to CommBank customers via the CommBank app.
The business has a strong wholesale relationship with Vocus and last month announced the signing of a new contract with Vocus, which will see the companies’ longstanding wholesale partnership extended to ten years in total.
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