India’s economy has exhibited a consistent and robust growth trajectory amid global headwinds of trade tensions, capital outflows, and inflation, with domestic demand being a major driver. 

However, within this overall growth, specific companies have stood out as exemplars of spectacular rise over the same period, through delivering on a compelling value proposition to address longstanding unmet needs in India’s unorganized markets.

Based on the TIME-Statista “India’s Fastest-Growing Companies” list, capturing absolute revenue growth for the firms between FY2022 and FY2025, this article shortlists the top 10 companies with the highest growth to spotlight their contribution to India’s economic growth and recurring themes across the sectors. 

The table below provides an overview of the top 10 companies in terms of their founding years, owners, presence in India, and services.

Quick Comparison

Rank	Company	Founded	Owner / Founders	Headquarters / Sector	Growth (FY22–FY25)
1	Spinny	2015	Niraj Singh, Ramanshu Mahaur, Mohit Gupta, Ganesh Pawar	Gurugram / Auto Tech	2,899.94%
2	Xolopak India	2014	Privately held, founder-led	Pune / Sustainable Manufacturing	1,678.95%
3	MoveInSync	2009	Deepesh Agarwal, Akash Maheshwari, Anuvrata Arora	Bengaluru / IT-SaaS	731.36%
4	Yulu	2017	Amit Gupta, RK Misra, Naveen Dachuri, Hemant Gupta	Bengaluru / Micro-mobility	673.83%
5	Party Cruisers	1994	Privately held, founder-led	Mumbai / Hospitality & Events	653.20%
6	Svamaan Financial Services	2017	Privately held NBFC-MFI	Mumbai / Fintech Lending	535.15%
7	Bloom Hotels	2011	Founder-led; Samena Capital (majority investor)	New Delhi / Hospitality	517.24%
8	DevX	2017	Jaimin Shah, Parth Shah, Rushit Shah, Umesh Uttamchandani	Ahmedabad / Co-working & Real Estate	512.79%
9	Plustech	2006	Privately held, founder-led	Pune / Engineering	495.79%
10	NowPurchase	2017	Naman Shah, Aakash Shah	Kolkata / B2B Procurement	487.50%

1. Spinny – Fixing Trust in India’s Used Car Market

Details	Information
Founded	2015
Owner	Co-founded by Niraj Singh, Ramanshu Mahaur, Mohit Gupta, and Ganesh Pawar; Niraj Singh is the CEO
Headquarters	Gurugram, Haryana

As the top-performing company in the ranking, Spinny provides digital platforms and products to facilitate the purchase of used cars with a money-back guarantee. The company’s stock price jumped 2,899.94% in absolute terms during the period, with revenue growing from approximately US$21 million in 2021 to US$567 million in 2024. 

The firm has disrupted India’s used-car dealership market, which saw little transparency in terms of pricing and accident claims, and its 200-point inspection process and guaranteed buyback transformed the space’s dynamics. 

Spinny’s expansion into India’s car servicing market via its acquisition of GoMechanic in 2025 allows it to cover the entire lifecycle from purchase to maintenance.

What Spinny does: Offers end-to-end platforms and products for used-car purchase and financing

Services offered: Used-car sales, home test drives/delivery, in-house financing and insurance, inspection and certification, and servicing via GoMechanic acquisition

2. Xolopak India – Turning Sustainability Into Scale

Details	Information
Founded	2014
Owner	Privately held, founder-led
Headquarters	Pune, Maharashtra

Xolopak India provides biodegradable wooden cutlery, ice-cream sticks, and paper food packaging for the hospitality and restaurant industry and has partnered with Amul. The company’s absolute revenue growth of 1,678.95% was driven by tightening regulations on single-use plastics in India, which has made businesses look for alternatives. 

Thus, Xolopak’s offerings of wooden sticks, cutlery, and paper packaging have provided a necessary solution and served as a critical differentiator for food companies looking to go green. The firm filed for an IPO on the National Stock Exchange in late 2024.

What Xolopak does: Makes biodegradable, wood-based disposable products for the food and beverage industry

Services offered: Wooden cutlery, ice-cream sticks and spoons, paper food packaging, and other wooden disposable products

3. MoveInSync – Making Corporate Commutes Smarter

Details	Information
Founded	2009
Owner	Co-founded by Deepesh Agarwal, Akash Maheshwari, and Anuvrata Arora; incubated at the Indian School of Business, Hyderabad
Headquarters	Bengaluru, Karnataka

MoveInSync has developed a SaaS-based software for corporate mobility management to help businesses address the complex task of organizing and maintaining the massive transport ecosystem needed for their employees. 

The company recorded an absolute growth of 731.36% as the demand increased for its services with the growing need for digitization across industries. 

The software helps companies with fleets of more than 100 vehicles, with the company having grown its employee base from 570 to more than 1,100 persons during the period. MoveInSync’s solutions have attracted more than 300 corporate clients, including 72 Fortune 500 firms.

What MoveInSync does: Provides corporate transport management software

Services offered: Fleet and route optimization, vehicle tracking and billing, safety solutions, car rentals, and corporate commute management

4. Yulu – Solving India’s Last-Mile Mobility Gap

Details	Information
Founded	2017
Owner	Co-founded by Amit Gupta, RK Misra, Naveen Dachuri, and Hemant Gupta; Amit Gupta is the CEO
Headquarters	Bengaluru, Karnataka

This shared mobility platform offers shared electric two-wheelers at strategic locations to meet the need for last-mile connectivity. Yulu’s absolute revenue growth of 673.83% reflects the nascent but burgeoning electric vehicle (EV) space in India, where the company has positioned itself well by targeting the two-wheeler segment. 

Amit Gupta’s prior experience co-founding InMobi gave him insight into the industry, and he founded Yulu on a business model that did not require fixed docking stations, offering flexibility and convenience to users.

What Yulu does: Shared mobility solutions for two-wheelers

Services offered: Shared e-bike and e-scooter rentals, B2B fleet solutions, dockless e-bike rentals

5. Party Cruisers – Three Decades of Reinvention

Details	Information
Founded	1994
Owner	Privately held, founder-led
Headquarters	Mumbai, Maharashtra

Party Cruisers is the oldest company among the fastest-growing list and has seen its fair share of industry changes in the past three decades. Its absolute revenue growth of 653.20% was driven by pent-up demand in the post-pandemic period of 2021-2022 and its ability to meet the demand through its extensive experience and client base. 

The company provides event management, entertainment services, and organizes corporate events and weddings.

What Party Cruisers does: Organizes entertainment events and management of corporate events and wedding functions

Services offered: Specializes in event planning, management, and entertainment for corporate and private clients while managing the associated logistics on its own

6. Svamaan Financial Services – Lending to India’s Underserved Borrowers

Details	Information
Founded	2017
Owner	Privately held NBFC-MFI
Headquarters	Mumbai, Maharashtra

Svamaan Financial Services offers small-ticket loans to meet the credit needs of the poor, while its cashless disbursement model has helped it stand out in a highly competitive microfinance space. 

The company recorded an absolute revenue growth of 535.15% as it focused on first-time borrowers, many of whom lacked the collateral and documentation for conventional lending. The company’s target clients are MSMEs and individuals at the bottom of the pyramid who require credit to grow their businesses.

What Svamaan does: Microfinance lending institution focused on small ticket sizes

Services offered: Microloans, cashless disbursement, individual and group lending, and financial inclusion

7. Bloom Hotels – Budget Hospitality Built for Growth

Details	Information
Founded	2011
Owner	Founder-led management; Samena Capital holds a majority stake following significant investment
Headquarters	New Delhi

Bloom Hotels runs a chain of budget and premium hotels in destinations such as Mumbai, Pune, Udaipur, Jaipur, NCR, among others, with brands such as Bloom Hotel, Bloom Hub, BloomSuites, and Bloomrooms spanning its portfolio. 

The company’s absolute revenue growth of 517.24% has been driven by India’s domestic tourism, with business travelers accounting for a substantial proportion of its clientele. With over 50 properties, the firm is set to expand further on the back of private equity funding.

What Bloom Hotels does: Operates a chain of premium budget and mid-market hotels

Services offered: Budget hotel accommodation, business traveller-friendly properties, business and leisure travel management

8. DevX – Flexible Workspaces for a Hybrid Economy

Details	Information
Founded	2017
Owner	Co-founded by Jaimin Shah, Parth Shah, Rushit Shah, and Umesh Uttamchandani
Headquarters	Ahmedabad, Gujarat

DevX provides serviced offices and flexible coworking space designed to meet the needs of India’s evolving hybrid work environment. 

The company has been able to record an absolute revenue growth of 512.79% as organizations seek to reduce overhead costs associated with traditional office spaces, while individual professionals prefer coworking spaces for their collaborative environment. 

While Ahmedabad is the company’s headquarters, DevX serves clients nationwide and offers its clients the option to scale their office space requirements as they grow.

What DevX does: Offers flexible office spaces

Services offered: Coworking and serviced offices for startups, enterprises, and SMEs; accelerator program memberships; and venture fund investments in startups

9. Plustech – Engineering Growth from Pune

Details	Information
Founded	2006
Owner	Privately held, founder-led
Headquarters	Pune, Maharashtra

Plustech provides engineering solutions and turnkey manufacturing solutions to original equipment manufacturers (OEMs) and multinational corporations. 

The company’s absolute revenue growth of 495.79% was supported by India’s push to make the country a manufacturing hub as captured by the Government’s PLI scheme for十四 strategic sectors announced in recent years. 

By focusing on quality and cost-effective engineering solutions, the firm has been able to serve a diverse client base.

What Plustech does: Offers engineering design and manufacturing services to industrial clients

Services offered: Design, engineering, and manufacturing services; component manufacturing; and process engineering services

10. NowPurchase – Digitising Metal Procurement

Details	Information
Founded	2017 (as a broader B2B e-commerce platform, later focusing on metals in 2019)
Owner	Co-founded by Naman Shah and Aakash Shah
Headquarters	Kolkata, West Bengal

NowPurchase’s e-commerce platform connects metal manufacturers with suppliers of raw materials, foundry waste, and additives. 

The company has grown tremendously on the back of digitizing the metal manufacturing supply chain, with its absolute revenue growth recording 487.50%. Its flagship product, MetalCloud, is a cloud-based platform that digitizes the end-to-end production process of metal manufacturers.

What NowPurchase does: Connects metal manufacturers and suppliers through its e-commerce platform

Services offered: Metal procurement platform; MetalCloud uses IoT and computer vision to optimize metal manufacturing; and scrap processing and recycling centers

Frequently Asked Questions (FAQs)

Q1. Which is India’s fastest-growing company as per TIME-Statista rankings?  

Spinny is India’s fastest-growing company as per the latest TIME-Statista rankings due to its 2,899.94% absolute revenue growth, with revenue growing from approximately US$21 million in 2021 to US$567 million in 2024.

Q2. How is this “fastest-growing companies” ranking determined?

The ranking indicates companies’ absolute revenue growth, based on the companies’ filings, reports, and submissions, using a compound annual growth rate formula.

Q3. Which sectors witness the major presence of India’s fastest-growing companies? 

Engineering & Manufacturing and IT/Software lead the way in terms of the number of fastest-growing companies, although the top 10 shortlisted companies span multiple sectors.

Q4. Is Spinny a profitable company? 

Spinny has not demonstrated consistent profitability at the group level, which is common for companies at its growth stage, and was valued at US$1.8 billion as of 2021. The firm also raised US$160 million in 2025.

Q5. Which company is the oldest one on this list? 

Party Cruisers is the oldest company on this list as it was founded in 1994.

Q6. Are there companies on this list not based in the traditional startup hubs of Bengaluru, Mumbai, and Delhi? 

Yes, Kolkata-based NowPurchase and Ahmedabad-based DevX, as well as Pune-based Xolopak and Plustech, are also witnessing a significant startup boom.

Q7. What is MetalCloud, and why is it notable? 

MetalCloud is an innovative platform that helps digitize the end-to-end processes for metal manufacturing using IoT and computer vision, and it is notable because it helps NowPurchase stand out in its vertical.

Q8. Why did Xolopak record such phenomenal growth? 

Xolopak witnessed phenomenal growth due to the rising regulations concerning single-use plastics in India and the resulting demand for its sustainable products.

Q9. What role do government policies play in the growth of these companies? 

Government policies concerning subsidies, incentives, and regulations play a significant role in fueling the growth of multiple firms, especially manufacturing ones, such as the PLI scheme and financial inclusion policies.

Q10. What can we infer about India’s economy from this list?

 We can infer that India is witnessing the rise of multiple firms that digitize and disrupt traditional unorganised sectors such as its used-car market, corporate transport, credit, and hospitality, among others, to address long-standing needs, and this trend is set to continue.

Conclusion

India’s fastest-growing companies of this cycle are not a list of hype-driven unicorns chasing valuation milestones. 

They are businesses that identified long-standing, unorganised corners of the Indian economy — used cars, corporate commuting, micro-mobility, sustainable packaging, credit access, budget hospitality, flexible workspaces, and industrial procurement — and applied technology, discipline, and capital to bring them into the organised, digital economy.

From Spinny’s remarkable 2,899% growth to NowPurchase’s steady digitisation of metal procurement in Kolkata, these ten companies show that India’s next wave of growth is being built well beyond the familiar startup narratives, across cities, sectors, and business models that are quietly reshaping how the country buys, moves, lends, and builds.