The British tech market would now represent no less than 942 billion dollarsaccording to a new study by Dealroom.co for the UK. This is better than Germany ($467.2 billion) and France ($307.5 billion) combined, even as Brexit has recently reshuffled the cards on the economic chessboard in Europe. On the Old Continent, our neighbors across the Channel are thus the first in the ranking. On site, there are indeed beautiful nuggets such as the Revolut online bank, SumUp payment terminals or Deliveroo and its meal deliveries.
Of course, these figures must be considered with caution as for each study. But the truth is probably quite close, notably with a more liberal and progressive context among the islanders. On site, note also the presence of the powerful london stock exchange and a linguistic ecosystem that is necessarily more advantageous for the locals.
Make way for unicorns
According to Deal room, 144 “unicorns” would also be based in the UK. Under this term are hidden companies that have gone from the start-up stage to a valuation of at least one billion dollars. Among these, we can mention FinTech Checkout.com and TransferWise, but also OakNorth. In total, British firms have also raised the equivalent of 27.3 billion euros in 2022. Again, this is more than for the combined numbers of France and Germany.
With this, the source evokes the case of 237 “futurecorns”. Understand: very promising companies and ready to soon reach the billion mark. But perhaps less quickly than expected, given the crisis that is also hitting the United Kingdom hard.
And in France ?
For the most curious, Dealroom also offers a detailed report on the tech market in France on its site. We learn the second quarter of 2022 was displayed as a record in terms of fundraising, with no less than €3.7 billion collected over the period.
On the side of our unicorns, we find in particular the undisputed success of Doctolib, a platform for making an appointment with a health professional from your mobile or computer. Back Market is also one of the leaders, specializing for its part in the resale of refurbished equipment. And for FinTech, SAS Qonto is leading the way. Its online accounts for freelancers and start-ups have also conquered the Italian, Spanish and German markets.
