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Over 70 Companies Reached Unicorn Status in 2020, with Fintechs Accounting for 17%

A unicorn is a term used to indicate a privately owned start-up that is worth more than $1 billion. Some examples of fintech unicorns include Funding Circle, Transferwise and Revolut.

In 2020, 76 new companies made unicorn status down from 120 in 2019, according to research by Tipalti, a new unicorn itself. The majority of the year’s new unicorns came from the US (62%), with 17% of these new unicorns being in the fintech industry (followed by e-commerce at 14% and internet software and services at 12%.

The most valuable of these companies which reached unicorn status this year is the National Stock Exchange of India, at a value of $6.5m, with other notable new unicorns including the learning marketplace Udemy, fitness clothing brand Gymshark, and insurance start-up Waterdrop.

The majority of the worlds unicorns comes from a small number of countries, with the US and China accounting for 72%, India 4.9%, UK 4.7% and Germany 2.4%.

The top ten most valuable companies which have reached unicorn status in 2020 according to Tipalti are:

  1. National Stock Exchange of India – Fintech
  2. Arrival – Auto & transportation
  3. GoPuff – E-commerce & direct-to-consumer
  4. HyalRoute – Mobile & telecommunications
  5. MessageBird – Mobile & telecommunications
  6. Waterdrop -Fintech
  7. Snyk -Cybersecurity
  8. Cazoo – E-commerce & direct-to-consumer
  9. Skydance Media – Other
  10. Via Transportation – Auto & transportation

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