Fintech Company SurgePays Closed Out 2021 By Becoming The 50th Fastest-Growing Company In North America According To Deloitte — Here's What You May Want To Know

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If you’ve ever glanced at a prepaid product in a local convenience store, you might have seen SurgePays Inc.’s SURG business in action. 

The fintech company has been serving the underbanked community since 2006, providing prepaid wireless top-ups, gift cards, WiFi plans, and SIM card kits to thousands of Americans through convenience stores, bodegas, and community markets. 

SurgePays' grassroots approach serves 100 million prepaid wireless consumers in the U.S., and its blockchain system processes and records approximately 20,000 transactions a day. For the third consecutive year, SurgePays has been listed on Deloitte’s Technology Fast 500 Ranking, ranking as the 35th fastest-growing software-as-a-service (SaaS) company in the U.S. and 50th fastest-growing company overall. 

The Deloitte Technology Fast 500 honors companies that “define the cutting edge, transform the way we do business, disrupt the technology industry, and combine technological innovation, entrepreneurship, and rapid growth.  

SurgePays: Looking To The Past And The Future?

In November, 2021 the Company successfully uplisted to the Nasdaq Capital Market, completing a $19.8 million offering.

Perhaps one of the most exciting recent developments for SurgePays’ is the recent expansion effort in mobile broadband through its wholly-owned subsidiary SurgePhone Wireless LLC, which was approved for the Affordable Connectivity Program in 14 states. The company has reportedly begun to seize its part of market share. Just four months after the initial launch in August of 2021, it reaped over $4.2 million in revenue. More recently, enrollments have increased from 19,000 after four months to 50,000 in February, demonstrating over 200% growth in just two months and achieving a single-day record of 1,500 new subscribers in the process.

SurgePays also completed the acquisition of Commander Communication LLC, a provider of prepaid wireless payment products. The acquisition opened doors to approximately 500 convenience stores where SurgePays cross-sells products and services to an existing customer base. 

Commenting on its inclusion in Deloitte’s Technology Fast 500, SurgePays Chairman and CEO Brian Cox said: “To achieve this recognition and yearly revenue over $50 million when our focus was on development, margin expansion and becoming NASDAQ listed is, quite frankly, eye-opening to what can be accomplished now that we have moved into an expansion phase  with the resources to invest in our business, and our focus is recalibrated to revenue growth.”

SurgePays has also been highlighting blockchain developments, which are meant to help customers accept Bitcoin BTC/USD and Dogecoin DOGE/USD at convenience stores, providing underbanked consumers a digital currency to access the larger world monetary systems and its expansion of its B2B marketplace for retailers in the SurgePays Network, including hemp product distribution and business intelligence domains. 

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.