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The latest unicorns of UK: These tech companies joined the coveted club in 2020

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As the digitisation of almost all services results in numerous business opportunities, millions of startups mushroom every year. However, only a few of these startups come out with flying colours. Eventually, only some of these attain the status of a ‘unicorn’ with a valuation of over £1 billion. It is estimated that the 33,860 scaleup businesses in the UK contribute £1 trillion to the UK economy on an annual basis, which represents half of the overall SME economy. However, the scaleups are witnessed a shortfall in funding of up to £15 billion this year, due to the COVID-19 crisis that has left an impact on investments.

While some businesses have been worst hit by the pandemic, some others have managed to grow and some closed big funding rounds to fuel their ambitions. As we are approaching the end of 2020, UKTN has come up with a list of stellar UK tech companies that have attained the unicorn status this year. Let’s take a look at how they did that!

Picture credits: Cazoo

Cazoo — fastest ever unicorn

Founder/s: Alex Chesterman
Founded year: 2018
Funding: £471.5M...