Insider Intelligence delivers leading-edge research to clients in a variety of forms, including full-length reports and data visualizations to equip you with actionable takeaways for better business decisions.
In-depth analysis, benchmarks and shorter spotlights on digital trends.
Learn More
Interactive projections with 10k+ metrics on market trends, & consumer behavior.
Learn More
Proprietary data and over 3,000 third-party sources about the most important topics.
Learn More
Industry KPIs
Industry benchmarks for the most important KPIs in digital marketing, advertising, retail and ecommerce.
Learn More
Client-only email newsletters with analysis and takeaways from the daily news.
Learn More
Analyst Access Program
Exclusive time with the thought leaders who craft our research.
Learn More

About Insider Intelligence

Our goal at Insider Intelligence is to unlock digital opportunities for our clients with the world’s most trusted forecasts, analysis, and benchmarks. Spanning five core coverage areas and dozens of industries, our research on digital transformation is exhaustive.
Our Story
Learn more about our mission and how Insider Intelligence came to be.
Learn More
Rigorous proprietary data vetting strips biases and produces superior insights.
Learn More
Our People
Take a look into our corporate culture and view our open roles.
Join the Team
Contact Us
Speak to a member of our team to learn more about Insider Intelligence.
Contact Us
See our latest press releases, news articles or download our press kit.
Learn More
Advertising & Sponsorship Opportunities
Reach an engaged audience of decision-makers.
Learn More
Browse our upcoming and past events, recent podcasts, and other featured resources.
Learn More
Tune in to eMarketer's daily, weekly, and monthly podcasts.
Learn More

The UK is the third-biggest tech unicorn hub worldwide

The news: The UK now has 100 tech firms valued above $1 billion and is only the third country to cross this milestone, following the US and China, per a Tech Nation report.

Data zoom-in: For context, the UK has more tech unicorns than Germany (42), France (22), and the Netherlands (18) combined. The number of tech unicorns in the UK grew exponentially: In 2017, there were just 44 unicorns; this year, 13 unicorns have already been formed, more than the seven for all of 2020.

How did the UK reach this milestone? A nurturing regulatory environment created fertile pastures that encouraged large fintech raises, leading unicorns to multiply.

The UK ranks No. 1 in open banking adoption in Europe, giving fintechs standardized access to a wealth of user bank account data, which helps develop their services and attract investors. In addition, the Financial Conduct Authority is known to be accommodative of industry changes; for example, it recently extended the anti-money laundering requirements deadline for crypto trading.

As a result, fintech startups constituted the largest share of the 100 tech unicorns, at 34%, leading other subsectors, including healthtech, travel and transport tech, foodtech, and gaming.

In 2021 alone, in the UK:

  • Neobank Starling raised £272 million ($375.8 million), bringing its new valuation to £1.37 billion ($1.89 billion);
  • Insurtech Zego reached a $1.1 billion valuation after a $150 million raise; and
  • Insurtech Tractable’s $60 million raise last week brought the UK to the triple-digit milestone.

The bigger picture: Fintechs are driving unicorn record-setting across the world.

Fintechs tied with internet software and services for the biggest share of unicorns globally, at 15%. Payments startups have done especially well, with Stripe and being the highest-valued unicorns of any sector in the US and UK, respectively, while BNPL Klarna is, in fact, the highest-valued private company in all of Europe, per CB Insights Complete List of Unicorn Companies.

Future unicorns-to-be extend beyond payments to include open banking providers and neobanks. For example:

  • Sweden-based Tink hit a €680 million ($867.9 million) valuation last December and will likely follow in the footsteps of Plaid’s recent $13.4 billion valuation; and
  • Zopa and Atom Bank, Starling’s neobank peers in the UK, are favorites to reach $1 billion, per Dealroom.