Bank doubles revenue to move up to #1,134 on list
Austin, TX (Aug. 20, 2020) – For the fifth consecutive year, Austin Capital Bank, a leader in digital banking products and responsible financial innovation, was named to Inc. Magazine’s “Inc. 5000” list of the fastest-growing private companies in the nation, as it experienced a record 399% revenue growth over the past three years.
The bank, which is known for its digital banking platform and products, moved up nearly 1,000 spots on the 2020 list after moving up more than 1,000 spots in 2019. The bank ranked #1,134 on this year’s list, up from #3,289 just two years ago. The bank more than doubled revenue year-over-year from $11 million in 2018 to more than $24 million in 2019.
Each year Inc. Magazine ranks the fastest growing private companies in America based on percentage revenue growth over the past three years. The Inc. 5000 list represents a unique look at the most successful private companies within the American economy’s most dynamic market segment – independent small and midsized businesses. Companies such as Microsoft, Dell, Yelp, Zillow, and many other well-known brands gained their first national exposure as honorees of the Inc. 5000.
“We were fortunate to more than double our revenue the past year, and to have increased it nearly four-fold over the past three years” said Erik Beguin, founder and CEO of Austin Capital Bank. “The launch last year of our credit-building product, CreditStrong, certainly fueled much of our growth, but we also experienced growth in all our product lines. We’re excited to keep this momentum going as we cross a half-decade of being included on the Inc. 5000 list.”
About Austin Capital BankAustin Capital Bank is a 5-Star rated, FDIC-insured, independent community bank located in Austin, Texas. Austin Capital Bank is consistently recognized as a top performing financial institution and has been ranked on consecutive INC. 5000 lists since 2016. Austin Capital Bank is unique among community banks in that it defines ‘community’ as a common set of needs and values vs the traditional geographic focus of community banks. Austin Capital Bank offers proprietary branded digital banking services nationwide enabled by its own custom-built banking-as-a-service platform and digital banking products group.