Menu visibility control

Video

Events

Startup Surgery

Most Recent

Investments

AI-powered authentication platform Callsign raises $35m to boost global expansion

Investments

InsurTech startup Brolly gets £1m Seed co-led by Valar Ventures and Pi Labs

Tech City Voices

What’s stopping the North of England becoming a major tech hub?

Press Releases

GreenKey Technologies and Red Box Recorders partner to launch integrated trading voice collaboration and compliance recording solution
Leading light in British HealthTech, Network Locum, rebrands to Lantum
SteelEye announces regulatory tech specialist Matt Smith as CEO

#LDNTechWeek: UK “undisputed home of unicorns in Europe”

twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Almost half of Europe’s billion-dollar ‘unicorn’ tech companies were founded in the UK, according to research conducted for London Technology Week by investment bank GP Bulhound.

A total of 17 of the 40 European tech companies that have achieved IPO or been valued at $1bn or more started in the UK, with fintech’s eight unicorns representing the largest sector.

London takes the lion’s share of these success stories, producing: ASOS, JustEat, Skrill, Wonga, Zoopla, Farfetch, Transferwise, Shazam, Funding Circle, Markit Group, Ve Interactive, Powa and Rightmove.

The smart home revolution: Will it ever happen?

But there are four based outside of London, AO.com, FanDuel, PokerStars and SkyScanner.

The number of unicorns across the European region has grown 33% from the same time last year, up from 30 to 40 companies, making 2014 the most successful year since 2000.

In the UK alone, eight new companies have been added to the list since just a year ago, with the average valuation across all of these European firms now reaching $3bn.

“The UK has raced ahead as the undisputed home of unicorns in Europe,” said Manish Madhvani, managing partner at GP Bullhound and co-author of ‘European Unicorns – Do They Have Legs?’.

“Our report shows that Europe has a network of entrepreneurs and investors that can create and grow globally successful digital businesses.”

Sweden and Russia come in joint second, with five unicorns apiece, followed by Germany with four and France on three.

Perhaps not quite the fast investment or quick exit that some founders and investors might hope for, European unicorns require an average of $140m over nine years to pass the $1bn mark.

And far from being a young person’s game, the average age of entrepreneurs when they founded these companies was 35.

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

  • Rune Sovndahl

    And just where was justeat founded??

Editor's picks

callsign

AI-powered authentication platform Callsign raises $35m to boost global expansion
posted 30 mins ago

man smiling at colleague

InsurTech startup Brolly gets £1m Seed co-led by Valar Ventures and Pi Labs
posted 2 hours ago

liverpool the north of england

What’s stopping the North of England becoming a major tech hub?
posted 4 hours ago

Limejump

Limejump closes £3m Series A to disrupt the energy utility market
posted 18 hours ago

startup empty office

Mass redundancies at Jinn as startup struggles to succeed in on-demand delivery market
posted 19 hours ago

supreme court

Tribunal fees ruled unlawful: How will this impact gig economy firms?
posted 21 hours ago