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Over the last decade, the UK has been one of the most successful countries in breeding unicorns. The United Kingdom has become a global leader in the startup world. The surge in successful startups reaching this profound status is mainly because of the unlimited investment opportunities available in the country. The UK also has favourable regulations and experienced business leaders ready to help startups become unicorns and more. 

New start-ups flourish in the UK whether they are fintech, AI, eCommerce, AdTech or other sectors; the UK has an appetite for innovation. 

London is brimming with opportunities and is a hotspot where investors from all over the world come to capitalise. London is attracting the best talent  particularly for jobs in the tech industry. The rise in work-from-home opportunities and a digital workforce has halted the rate at which people want to move to this expensive big city. Nonetheless, London is still very attractive for investors aiming to create their perfect Unicorn.  

As successful startups from London continue to thrive globally, the UK’s significance in global tech is growing year by year. 

Top Unicorns in the UK Worth Noticing

Darktrace

One of the most notable startups is Darktrace, which reached unicorn status in May 2018. As cybersecurity threats are only increasing, this company is essential for the future of the tech industry. Darktrace fights the war against cyber threats with an innovative approach which combines advanced machine learning techniques with a deep understanding of network behaviour. It is the first to integrate AI to help block cyberattacks across cloud environments, devices and IT assets. The AI is trained to spot code vulnerabilities, especially social engineering attacks.

Darktrace is very successful with a total overall value on the stock market at 4.12 billion British Pounds (GBP). It’s no surprise that it serves a diverse range of clients,  including Rolls Royce, the UK’s National Health Service (NHS), and Coca-Cola. 

Competitive Edge

What makes Darktrace stand out from its competitors is its advanced AI technology, which learns and adapts in real time. Their AI responds instantly to threats based on the actions themselves, rather than just historical data. 

Darktrace has become famous for bringing ‘the immune system approach’ to the cybersecurity arena, offering total coverage and continual learning. They are growing and learning alongside the expansion of their clients’ businesses. 

One of the most praised aspects by customers is the speed of action, thanks to AI integration, which significantly enhances the speed at which threats are detected. 
 

Remarkable Minds behind Darktrace

Darktrace was founded in 2013, and created by a team of mathematicians and experts across various domains. It is one of the fastest-growing private companies in the world. With an amazing team of thinkers, the company began developing its AI technology for a few years before bringing it to the market. 

Poppy Gustafsson is a Chief Executive Officer and Co-Founder of Darktrace. She has received lots of recognition for her achievements over the years, including being named Tech CEO of the Year at the UK Tech Awards in 2021, as well as receiving other notable accolades such as Vodafone’s Woman of the Year. Darktrace and all her numerous achievements are just as noteworthy as her inspiring mindset.

In a CNBC interview, she gave viewers some insight into her winning mindset. She mentioned that she stands firmly behind the idea of “Show, don’t tell” and how this approach has opened doors to success for her startup. She emphasises how one should not waste time trying to convince people, but rather show them instead. Especially when approaching a problem that has never been solved before. 

Tide

Tide is breaking the barriers of what once was known as traditional banking. It is by no means a bank. It is an online business current account that helps you access your traditional bank accounts with much more ease. Tide has brought a banking solution for companies of various sizes, including freelancers. Its status as a new unicorn of 2024 highlights its success in providing specialised financial services. Tide has already influenced the fintech industry and will continue to do so with its innovative approach.  
 

Competitive Edge

Tide is different from other banking services as it offers virtual-only business accounts. This company is one of the best in the market in helping its users interact with their finances in a simplified and user-friendly manner. It is a very safe option and is regulated through the Financial Conduct Authority with full rights to act as e-money. Amongst having a debit Mastercard option, Tide also has features like a contactless payment method available. Although it might not have an international payment functionality yet, it is still a great option for small businesses and freelancers with the option to open up to 4 current accounts. 

The Founder behind Tide:

George Bevis is the founder of Tide and has built lots of companies from scratch. As an entrepreneur himself, he was inspired to create Tide after he struggled with business banking and the administrative burden of traditional banking options. According to an interview he did with Evelyn Partners, he thanks his success to the wisdom shared by his father. “Get up. Dust yourself off. Go again, son.” He inspires other entrepreneurs by reminding them that failure is a given in any business venture but to give up is a choice. 

Blockchain.com

Cryptocurrency has transformed the world of global finance. Its impact has been reflected in significant opportunities for innovation but has also increased challenges in the financial and technological sectors. This is why Blockchain.com has been a key component in addressing issues in the cryptocurrency space. 

Their Competitive Edge:

Blockchain.com offers a user-friendly wallet to securely store, manage and transact with cryptocurrencies like Bitcoin and Ethereum. It has backup and recovery options and has much-needed security features like advanced encryption. It helps users receive funds quickly and at lower costs. One of its remarkable features is its focus on educating the user with resources to help understand cryptocurrency concepts, safe practices etc. 

The Founders Behind Blockchain.com

Blockchain.com was founded by Peter Smith among other Co-Founders. In a podcast with Everand, the CEO of blockchain.com mentioned what motivated him to start this business venture. As he did not grow up wealthy, he lived with constant financial anxiety until college when he made his first few successful investments. This is when he started to see the power of making good investments. He began asking the questions “How do I want to spend my time? How do I want to impact the world?” instead of “How do I have to.” He strived to help others through Blockchhain.com to silence their financial anxiety and make good investments, safely. 
 

Lendable
Lendable was founded in 2014 and reached its unicorn status in October 2022. Valued at £3.5B, this London-based fintech company is very successful in their field. Lendable specialises in providing loans and aims to do so in a completely automated way. They leverage technology to streamline the loan application and approval process. 

As the platform aims to automate most of its decision-making processes, it delivers faster loan approvals. Lendable is highly favoured by customers based on ratings and it could be a result of their motto of financial inclusion, offering loans to a broader range of consumers.
 

Their Competitive Edge:

What sets Lendable apart from most of its competitors is the fact that it facilitates loans to those whose credit scores might not be the best. Unlike most similar companies in the fintech sector, lendable focuses on unsecured personal loans typically used for various purposes including debt consolidation, home improvements and personal expenses. 

Co-Founder behind Lendable:

One of the remarkable Co-Founders behind Lendable is Victoria van Lennep. She believes that Lendable’s success is due to outstanding teamwork. In a Forbes interview, she gave the advice that ‘over hiring’ is a pitfall that new startups should look out for. Lendable aims to employ bright people who want to do things better than the day before.
 

Graphcore

Graphcore achieved unicorn status in 2018 and has had a significant impact on growth in the field of artificial intelligence and machine learning hardware. This company tries to push the boundaries of artificial intelligence and machine learning and its main focus is on designing hardware and software such as microprocessors designed specifically for machine learning. Graphcore is searching for a sale that could value the business over £400 M, and SoftBank might be the answer.
 

Their Competitive Edge:

Graphcore wants to be the best in the business and unlock new possibilities in machine learning. Graphcore is committed to continuous learning and helps its employees grow alongside the company with skill-building and career advancement. What sets their technology apart is mostly that it is made to handle algorithms, similar to those used in neural networks. It does not only rely on memory but integrates memory and processing into a single system. 
 

Remarkable Mind behind Graphcore

Graphcore was founded by Simon Knowles and Nigel Topon in 2016. Nigel Toon is a technology business leader, entrepreneur, investor and engineer. In a TEDx talk, he shared intriguing insights into his mindset behind Graphcore and explained his passion for developing advanced AI systems. He believes that AI is a form of communication, turning information into knowledge and from knowledge it could then create intelligence. He believes that Grapcore is vital for the future of AI and that it could bring great insights into the world of tech innovation. 

These are but a few of the Unicorns in the UK that are thriving and still discovering their path towards more efficient growth and success. It is clear why certain startups get a special name among the rest and that the intrigue behind unicorns is more than just the financial success they reach. All these unicorns mentioned above have a few things in common. Unique solutions to problems, innovation as their main focus, outstanding teamwork, and consumer-driven and remarkable founders behind them. Investors are attracted to certain startups over others for many reasons, often due to both the exceptional business opportunities and the remarkable founders leading them.