The UK produces most Fintech Unicorns in Europe, according to Dealroom
A new report issued by Dealroom confirmed the UK produces more Fintech Unicorn companies than any other European country. Four times as many to be precise.
The report issued by Dealroom in conjunction with Armstrong International found that the UK is a leader in creating Fintech companies that attract valuations of $1bn or more.
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The UK is home to 52 of Europe’s 121 billion-dollar Fintech companies compared to just 13 in France and 12 in the Netherlands.
Data collected by Dealroom found European Fintechs were worth a total of $445bn compared to $433bn in 2023, but down from a high of $470bn in 2021.
A Fintech funding ecosystem of leading VCs and UK-based sophisticated individual investors has helped nurture Fintech giants, including Monzo, worth $5.4bn, and SumUp, which has raised a total of $662m in equity funding and $1.5bn in debt.
Other UK Fintech success stories include Revolut, Starling Bank, and Zopa. You will note all of the companies mentioned are yet to IPO, opting to remain private companies.
In 2023, transaction values for UK Fintechs fell to £9.75bn, down 34% from £14.82bn in 2022 amid a wider slowdown in capital markets, according to KPMG.
Still, UK Fintechs raised more than those in France, Germany, China, India, Brazil and Canada combined.
