The UK is the host of a third of Europe's unicorn companies, a new report says. Unicorns are start-ups and companies worth more than a billion dollars.
There are, in total, 47 companies worth more than a billion in Europe, and the UK has 18 of them, it was said. On the list are Asos, Transferwise, Zoopla, Blippar, and Anaplan.
Sweden is second with seven companies, Germany third with six, and France and Israel with three, each.
Ten new unicorns have joined the exclusivity club in the last year, with a few dropping off, as well. Spotify is now the most valuable start-up, worth $8.5bn, and the Finnish Supercell is on the road to becoming the world’s first ‘decacorn’ (yep, that’s how we’ll call start-ups worth more than $10 billion).
According to The Guardian, Supercell’s revenue has grown 173 per cent year-on-year, and is currently valued at more than $5 billion.
GP Bullhound says there are a couple of companies which could hit the unicorn status very soon – in the next 12 months. On the list are restaurant delivery service Deliveroo, music streaming service Soundcloud, and the payment service iZettle.
“There has never been a better time to operate within the European market,” managing partner and co-founder of GP Bullhound, Manish Madhvani, told The Guardian.
“I firmly believe that the right ecosystem now exists for one of the companies highlighted in this report to push forward and reach a $10bn valuation in the next few years. With time, Europe could even produce its first $100bn tech company.”