U.K.-based tech IPOs raised a record 6.6 billion pounds ($8.8 billion) in 2021 from initial public offerings (IPOs), data from the London Stock Exchange (LSE) shows, double the amount from 2020.
Of the 126 companies that debuted on the London Stock Exchange almost 30% (37 companies) were technology companies, up from eight in 2020. The 2021 IPOs were led by FinTech group Wise and review site Trustpilot and also included U.K.-headquartered Deliveroo and Canadian company AlphawaveIP and U.S.-based Devolver Digital.
“2021 was a brilliant year for UK tech and it’s great to see just how many companies have grown from startup to scale-up, to finally becoming publicly-listed businesses on the London markets,” said digital minister Chris Philp in a Yahoo Finance report Monday (Jan. 31).
“Global investors hold London’s capital markets in high esteem and as we implement clear governance around innovative fast-growth companies, including rules around AI and data, we believe even more companies will appreciate the advantages that listing in London can give them,” he said.
Some U.K. government officials say 2022 could be another record year for tech-related IPOs, the report says.
“The UK is home to entrepreneurs, innovators and disruptors across a range of sectors, with some particularly remarkable success stories for companies in the technology sector,” said Julia Hoggett, CEO of London Stock Exchange, in the report.
“Last year demonstrated that the London Stock Exchange is increasingly becoming one of the top destinations for these companies and their founders to finance their visions and thrive,” she said.
Dealroom data shows that the U.K. is home to 116 unicorns, private companies worth at least $1 billion and 213 so-called futurecorns, companies that are predicted to reach $1 billion in value in the future.
Related: Zapp Grabs $200M to Expand Rapid Delivery in UK
Last week, rapid delivery service Zapp raised $200 million in a Series B funding round that’s slated to expand its footprint in larger U.K. cities, enhance its technology and improve its overall customer experience. That brings the company’s investment capital to $300 million since it was founded in 2020.
