European tech sector doubles in value during pandemic
GP Bullhound, the technology advisory and investment firm, has today released its annual Titans of Tech report, charting the growth trends of Europe’s tech ecosystem.
The 2021 Titans of Tech report has revealed a record year of value creation for European tech, as the sector is now valued at over $800bn – of which almost half was generated in the past year alone, matching what had taken 20 years to previously achieve.
There are now 166 companies valued over $1bn in Europe, with 31% (52) reaching Unicorn status in the past year – a 1.5x uptick versus 2020 – at a combined value of $94bn.
While Fintech and Enterprise Software have led the way amongst the number of billion-dollar firms, Marketplaces and E-commerce have seen significant growth in the past year.
Consumer demand during the pandemic led to a record 13 new unicorns for these two sectors, bolstered by on-demand start-ups with food delivery dominating this space.
