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Karooooo Ltd., the Singapore based parent of fleet management firm Cartrack, has been named to Singapore’s Fastest Growing Companies 2026 list, a ranking that tracks revenue growth over a three year period, the company said.
The recognition puts a spotlight on chief executive Zak Calisto, who founded Cartrack in 2001 and has built it into a multinational subscription business that connects vehicles and assets to software used for tracking, safety and operational efficiency. Calisto said the latest acknowledgement reflects disciplined execution and long term customer trust in the company’s technology.
The annual list is compiled by research firm Statista in collaboration with The Straits Times and ranks 100 companies headquartered in Singapore across multiple sectors. Companies are assessed using a methodology centered on revenue growth over a defined period.
Karooooo said it stood out not only for growth but also for size. Of the 100 companies on the list, only 16 reported revenue above SGD 100 million in 2024. Karooooo reported SGD 334.6 million, placing it among the few businesses expanding from a relatively large base.
Calisto has positioned Karooooo as a scaled operator rather than a fast burn startup. The company’s main operating business is Cartrack, a telematics and data platform used by fleet owners to monitor vehicles, drivers and equipment. The tools help companies manage fuel use, schedule maintenance, reduce downtime and respond to risky driving patterns. In many markets, those basics have become essential as transport costs rise and insurers demand more proof of compliance.
Cartrack has also been pushing into video and safety services that pair cameras with analytics, a product line that has grown quickly as logistics firms and passenger operators look for evidence during accidents and tools to improve driver behavior.
Karooooo says Cartrack serves customers in more than 20 countries and supports millions of connected vehicles and assets. The group employs more than 5,700 people across its operations, including sales, support and technology teams.
Calisto, born in Portugal and long associated with southern Africa’s technology and security sectors, remains the central figure behind the group’s strategy. He has kept the business focused on recurring revenue and high retention, leaning on distribution networks that sell to businesses with large fleets, from delivery firms and bus operators to field service companies and construction groups.
The market for fleet tracking and asset management is competitive, with global rivals, regional specialists and telecom backed offerings all chasing the same contracts. Karooooo’s edge, Calisto has argued, is consistency: a product that works across borders and a service model that can be repeated without heavy customization.
Recognition lists do not guarantee future performance, but they can influence perception with investors, partners and prospective customers, especially when they highlight growth at scale. Karooooo said the listing reinforces its goal of expanding its platform while maintaining what it calls strong operational discipline.
Calisto said the company plans to keep investing in product development and customer service as it targets further expansion in both mature and emerging markets.
