London Tech Week: the UK capital leads Europe in fintech unicorn race

By Olivia Minnock

A new study has shown that London has the most fintech unicorns of any European city, and has more of the billion dollar startups than San Francisco.

One unicorn has been created every month for the past year in the city, according to figures released by TechNation and Dealroom.

London has 45 unicorn firms to date out of 72 which are based in Britain, making the UK the third most successful region for unicorns in the world behind the USA and China. 18 of these unicorns are fintech companies.

SEE ALSO:

Meanwhile, San Francisco has 15 fintech unicorns based out of the city – though there are many more in the wider Bay Area.

Examples of successful fintech unicorns based in London include challenger banks Monzo and Revolut.

The news comes at the beginning of London Tech Week, an event that hopes to celebrate and promote innovation in the city of London. As part of the week, the UK Prime Minister will announce more than £1.2bn of fresh investment from 13 tech companies.

Software firm VMware will lead the charge with investment of over £1bn in the next five years.

Share

Featured Articles

Musk’s multibillion hostile Twitter takeover – the timeline

As billionaire entrepreneur Elon Musk buys Twitter for US$44bn, we draw up a timeline, from the buying of shares to the critical tweets and unsolicited bid

Sustainable moves businesses can make to win customers, IBM

With half of consumers saying environmental sustainability is more important today than a year ago, businesses should up their eco action, says IBM report

Banks and consultancies top workplaces to grow career in UK

Financial and professional services firms rank highest in LinkedIn Top 25 best workplaces list – from Barclays, Lloyds and HSBC, to PwC, Deloitte and EY

Top 10 women in technology in Europe

Leadership & Strategy

The value of ESG links sustainability to business returns

Sustainability

Top 10 European football clubs by revenue 2022 – Deloitte

Corporate Finance