Azibo Holdings, the company started by 2003 Young Gun Mayank Patel OBE has been invited to join the prestigious World Economic Forum’s Global Growth Companies community.
As one of just 350 companies from 60 countries to be granted membership, Azibo Holdings, which operates foreign exchange and payment processing businesses Currencies Direct Limited and Tor Currency Exchange Limited, has been recognised for its consistently strong growth and leadership within its industry.
Patel started Currencies Direct in a box-like office in Paddington in 1996, but has grown it to a company operating globally on behalf of corporate and private clients from offices in the UK, Spain, France, Portugal, South Africa and India.
Last year, Patel completed the acquisition of TorFX, an award-winning and £600m-turnover foreign exchange business which was named as one of the UK’s fastest growing companies in the Sunday Times Fast Track 100 in 2010.
Patel, group chairman of Azibo Holdings, commented: "This is an exciting opportunity for the Group to be part of an incredible community of the world's fastest growing companies, playing a major role in the world economy.
"The Group has grown at an incredible rate over the past five years, withstanding the effects of the global economic crisis with individual companies establishing themselves as the best in their class."
The World Economic Forum selects companies to join its Global Growth Companies community based on their business model, annual revenues and growth rates, executive leadership and market position.
Rodolfo Lara Torres, director of membership for the not-for-profit business and political foundation, said: "Azibo Holdings is a dynamic financial group with clear potential to shape the future in their relevant business sectors and so is a perfect fit to our GGC community."
Senior director of Global Growth Companies Jeremy Jurgens added that companies such as Azibo Holdings “provide the best example of creating new jobs, new technologies and new business models”.