PayBright Named to Inc. 5000 List of Fastest-Growing Companies for Second Straight Year
RALEIGH, N.C., Aug. 15, 2023 (GLOBE NEWSWIRE) -- PayBright, a leading merchant services provider, announces today it has been named to Inc. Magazine's annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The Inc. 5000 list is ranked according to percentage revenue growth from 2019 to 2022, during which time PayBright grew at an 891% clip, landing it as the No. 657 overall in the country and No. 5 in the Raleigh, North Carolina, area. This is the second consecutive year that PayBright has been recognized for this honor.
PayBright has separated itself from competitors in the space by partnering with some of the most experienced agents in the industry to sell merchant services, which has enabled the company to reach markets across the country and sign merchants from all types of industries. Over the three-year span for the list, PayBright grew its sales team from 100+ agents to include more than 600 active agents now. PayBright expects to surpass 1,000 active agents before the end of 2024.
"We’ve remained agile and knowledgeable within the industry to know when it is time to expand the team and offer new services,” said Dustin Magaziner, Founder and CEO of PayBright. “Our team excels at providing unparalleled support for our agents, ISOs and merchants alike. We’re honored to be named among Inc.’s fastest-growing companies, and we would not be here without the hard work and dedication of our entire team.”
The merchant services industry is a rapidly expanding field, as credit and debit cards have grown more popular in everyday use. Nearly every business has a need to accept card payments, and a report from Grand View Research states the growth won’t slow down, as “the global merchant banking services market size was valued at USD 41.44 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 17.4% from 2023 to 2030.”
The news of being named a fastest-growing company comes on the heels of PayBright’s recent launch of its POS Desk, which provides support to agents in the field who need help selling and connecting merchants POS and payments software. This will enable PayBright to continue providing top-tier support and growing its 1099 agent team.
