There are now 72 such companies based in Britain, making the UK the third most successful country for producing them in the world behind the USA and China. London is rated the most successful city in Europe on this measure, with more than four times as many as its nearest rival. 45 unicorn firms are in London, compared to just 10 in Berlin and nine in Paris and Stockholm. 18 of the companies are fintech firms, compared to just 15 fintech unicorns in San Francisco, though the wider Bay Area around it boasts 31.
London fintech unicorns include TransferWise, Monzo, MoneySuperMarket, Metro Bank, Revolut and Funding Circle. But such companies are not limited to the capital, with Cambridge, Oxford, Manchester, Leeds, Bristol and Edinburgh also boasting at least two billion-dollar firms. The research suggests the UK also leads Europe on venture capital investment, with a record $5bn expected in the first half of 2019 alone. “Since 2012 the UK has produced as many unicorns as Israel, Germany, the Netherlands and Sweden combined,” the research notes.
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