The number of
Fintech darling
Electric vehicle firm Arrival, trading app eToro, payments platform Checkout.com and online fashion platform Farftech are also among the seven new entrants to the big leagues.
The surge in new decacorns means the
It reflects a sharp acceleration in growth for British tech firms as a result of the pandemic, as well as new changes in how companies access late-stage investment.
Ocado is valued at
Wise is the most recent arrival to the decacorn club following its successful initial public offering earlier this month, which was London’s largest ever tech float.
Together the UK’s 12 decacorns employ almost 50,000 people and have raised just under
They have attracted investment from all over the world, though the US remains the largest source of funding, accounting for 54 per cent of all backing.
While they have chosen to set up shop in the
“These new figures reaffirm the UK’s position as a top global tech hub with strong growth from the sector as we build back better from the pandemic,” said culture secretary
“We are backing our booming tech scene with world-class digital infrastructure, skills and pro-innovation regulation attracting talent and creating jobs across the country.”
The figures, compiled by Tech Nation and Dealroom, are the latest demonstration of the success of the
The country recently passed the milestone of 100 tech unicorns, while
The rising number of large tech companies will also buoy efforts by the government to attract more tech listings on the
The City watchdog is currently reviewing a potential overhaul of listing rules in a bid to make it easier for high-growth firms to go public in the capital.
The post Power of 10:
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