An annual list compiling the 100 fastest-growing companies in Singapore has shown that the majority of businesses on the 2025 list are involved in information technology (IT) and software, financial services or real estate.
Companies from these sectors accounted for approximately 40 per cent of the list compiled by The Straits Times and global research firm Statista. The companies offer a range of established services, such as wealth management, along with emerging solutions in high demand, such as co-living spaces and artificial intelligence (AI).
The list, released on Jan 21, also included companies in the e-commerce, hospitality and travel, construction, manufacturing and retail sectors, among others.
The Singapore’s Fastest Growing Companies list features 100 local businesses that achieved markedly high revenue growth between 2020 and 2023.
Part of the criteria to be considered is that they must be independent companies headquartered in Singapore with at least $150,000 of revenue generated in 2020 and $1.5 million in 2023.
These revenues must also be organic, or generated through the businesses’ own operations and resources, rather than through external means like mergers, acquisitions or partnerships.
Greater demand for wealth management
Topping the list in 2025 is licensed financial adviser PFPFA, which saw its revenue grow over 48 times from $500,000 in 2020 to over $24.3 million in 2023.
The three-year period between 2020 and 2023 coincided with volatile interest rates and changing risk appetites both during and immediately after the pandemic, which likely increased demand for professional wealth planning and financial advice.
Founded in 2020 with just four employees, PFPFA now has 235 staff providing investment services, insurance solutions, and estate and business succession planning, among other services.
One other financial services and technology company in the top 10 for the first time is digital wealth management platform Endowus, which is also authorised to invest monies from the Central Provident Fund and Supplementary Retirement Scheme.
The company grew its revenue by over 13 times to $8.8 million between 2020 and 2023.
Endowus chief executive Gregory Van noted that the pandemic accelerated the adoption of digital investing, as traditional financial advisers and bank branches were rendered inaccessible during the period.
Singapore investors also began to realise they needed to take control of their own finances, and also had more free time to spend levelling up on personal finance and setting investment goals, Mr Van said.
Endowus, which was founded in 2017, now has more than 100,000 clients, who have collectively achieved over $500 million in net gains through the platform, according to the company.
“To date, more than 340,000 wealth goals have been created across our discretionary and advised portfolios, bespoke portfolios, and fund investing platform,” Mr Van said.
PFPFA and Endowus are among the 12 financial services and technology firms on the list in 2025, compared with 10 such firms in 2024.
