CashEdge Ranks No. 101 on Inc. 500 Ranking of the Nation's Fastest-growing Private Companies
Tenth Among Financial Services Companies
Achieves Three-Year Sales Growth of 882%
New York, NY & San Jose, CA – August 23, 2006 —CashEdge, a provider of online financial applications, today announced that it has been recognized by Inc. magazine as one of the 500 fastest growing private companies in the United States. CashEdge ranked 101st in the 25th annual Inc. 500 ranking and was tenth in the category of financial services, enjoying sales growth of 882% during the past three years. The Inc. 500 list appears in the September issue of Inc., scheduled to hit newsstands later this week, and on the website at http://www.inc.com/inc5000.
“It is a tremendous honor to be recognized among such an accomplished group of growing companies. CashEdge’s growth is a validation of our team’s dedication and hard work. Through these efforts, coupled with our clients’ vision, CashEdge has grown to become a widely recognized provider of online financial applications and the nation’s largest processor of interbank funds transfers and online account applications,” said Sanjeev Dheer, CEO of CashEdge. “CashEdge has enjoyed steady company expansion, and our expectations for future growth are even greater,” he added. The 2006 Inc. 500 reported the most robust bunch of companies the magazine has ever compiled, with aggregate revenue of $19.7 billion, up from $16.5 billion last year and $12.9 billion in 2000. These 2006 Inc. 500 companies are engines of job growth, having created more than 90,000 jobs since they were founded.
“If you want to find out which companies are going to change the world, look at the Inc. 500,” said Inc. Editor Jane Berentson. “These are the most innovative, dynamic, fast-growth companies in the nation, the ones coming up with solutions to some of our most intractable ills, creating systems that let us conduct business faster and easier, and manufacturing products we soon discover we can’t live without. The Inc. 500 list is Inc. magazine’s tribute to American business ingenuity and ambition.”
Methodology
The 2006 Inc. 500 list measures revenue growth from 2002 through 2005. To qualify, companies had to be U.S.-based, privately held independent – not subsidiaries or divisions of other companies – as of December 31, 2005, and have, and have at least $600,000 in net sales in the base year.
About CashEdge
CashEdge® provides innovative, online financial applications to banks, credit unions and wealth management firms. CashEdge's solutions include end-to-end online account opening and funding, funds transfer, small business payments and invoicing, and data consolidation. These proven solutions are flexible, scalable and supported by extensive risk management capabilities.
CashEdge has been ranked by Inc. Magazine as one of the 500 fastest growing private companies in the United States for two years in a row. In 2007 it was also recognized by the 2007 Deloitte Technology Fast 500 and Fast 50 as one of the nation's 500 fastest growing private companies and one of the 50 fastest growing companies in the New York area, respectively. The company currently serves hundreds of leading financial institutions including four of the top five banks, 23 of the top 100 banks, and 20 of the top 100 credit unions. CashEdge has offices in New York, Silicon Valley and India. For more information, please visit www.cashedge.com.
Contact:
Jennifer Moritz
Zer0 to 5ive
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