Cumulative number of tech unicorns in Europe since 1990 from 2010-2019, by country

In 2019, eight tech unicorns were created in the UK, bringing the UK total since 1990 to 77 by the end of the year. Up to and including 2019, Germany has been home to 32 tech unicorns, whilst Israel has a total of 23.

Tech unicorn

Only coined in 2013, the term unicorn refers to privately owned companies that reach a market value of over one billion U.S. dollars through either private or public investment. There are currently over 600 companies worldwide that have managed to achieve this feat, with over 500 of them originating from either North America or Asia Pacific.

Finance the leading industry for European unicorns

The majority of Europe’s 61 unicorns are in the finance, insurance, and real estate industries with a total of 20 unicorns as of January 2020. It is therefore not surprising to see that there are many fintech firms in the list of top unicorns in Europe. Although technology and telecommunications unicorns in Europe account for only 13 percent, Global Switch - an IT service management company located in the United Kingdom - is the most valued unicorn in Europe today.