The Startups 100 Index has always been about showcasing the UK’s most exciting and innovative businesses.
Starting in 2008, we’ve seen many companies take off, disrupting traditional industries, introducing groundbreaking solutions and for some, achieving the ultimate milestone – unicorn status.
Coined by venture capitalist Alison Lee in 2013, unicorn status happens when a privately held startup reaches a valuation of $1 billion or more. And for eleven of our Startup 100 alumni, this milestone has become a reality.
Whether in fintech, healthcare or education, these businesses are proof of just how transformative early-stage startups can be, redefining their sectors with fresh ideas, cutting-edge technology, and putting the customer first.
These companies prove that success doesn’t always follow the traditional path, and with the right mix of innovation, timing and market demand, even the newest players can make a huge difference.
In this article, we’re highlighting some of the standout companies from Startups 100 that have reached unicorn status, exploring their journeys and the impact they’re making across industries today.
1. Revolut
Revolut had already hit unicorn status by the time it topped the Startups 100 Index in 2019.
Still, the neobank has continued to position itself as a leader in the fintech industry – going beyond just offering basic banking services, such as competitive currency exchange rates, cashback for eligible purchases and the ability to book hotels and accommodations in-app. Its push into AI-driven financial management tools has also helped customers automate savings, track their spending and get real-time insights into their finances.
In November 2024, the company surpassed 50 million customers worldwide. It also hit a $45 billion valuation and received a UK banking license with restrictions from the Prudential Regulation Authority (PRA), allowing for the release of new products, such as eSIMs to tackle high data roaming costs, a debit card loyalty programme and mobile wallets for faster international transactions.
2. Monzo
Another impressive player in the fintech field, Monzo was first featured on the Startups 100 Index in 2016.
Even before achieving its unicorn status, the digital-only bank was already hitting significant milestones. Just a year after being founded, Monzo set the record for the “quickest crowdfunding campaign in history”, raising £1 million in 96 seconds via the Crowdcube platform.
What makes Monzo stand out from traditional banks is that customers can open an account in minutes, get instant payment notifications and put away money into digital “savings pots” – all from one easy-to-use app. Its innovative approach earned the company its unicorn status in 2018, and as of August 2024, Monzo has over 10 million users in the UK, including both personal and business customers.
3. BrewDog
A name you’ve definitely come across in the beer aisle many times, and one that graced the Startups 100 Index in 2020.
BrewDog’s journey dates all the way back to 2007, starting out as a small microbrewery in northeast Scotland, with a mission to offer alternatives to industrially brewed beers. Since then, the brand has exploded onto the alcohol scene with its quality craft beers. Not only was it quickly stocking the shelves of popular supermarkets, but it also opened its first bar in Aberdeen in 2010 and has since opened over 100 more worldwide.
However, it was in 2017 when BrewDog levelled up to its unicorn status. That same year, it launched The Unicorn Fund, which pledged to donate 20% of its profits every year – 10% shared between the crew and 10% given to charity.
4. GoCardless
From the beginning, the company’s mission was to solve the problem of businesses struggling to collect payments on time, in turn eradicating the high fees and failure rates associated with cards and digital wallets.
Despite regulatory hurdles at the beginning, GoCardless has hit some amazing milestones in its 14-year run, such as launching its services to the US and Australia between 2018 and 2020, before finally achieving its well-deserved unicorn status in 2022. With a focus on simplicity and cost-effectiveness, GoCardless is now trusted by thousands of businesses worldwide, including Plum, Sage and Yonder.
5. Wise
Originally known as TransferWise, this long-running fintech first hit the Startups 100 Index in 2012, with a mission to offer borderless international transactions that are “instant, convenient, transparent and eventually free”.
Customers can open a Wise account for free and can hold and send money in over 40 different currencies, as well as convert between them at mid-market rates. It also offers its own multicurrency payment card, allowing customers to spend money overseas without high transaction fees.
Wise became a startup unicorn in 2011, the same year it was founded – becoming an early pioneer in faster and easier international transactions – especially during a time when even banking apps were in their infancy. As of March 2024, Wise has 12.8 million customers and is valued at around £11.09 billion.
6. Gymshark
First started as a side hustle by founder Ben Francis while studying at university, Gymshark has since grown into a powerhouse in the fitness apparel industry.
However, it wasn’t just Gymshark’s top-quality products that contributed to its vast success. Rather, its focus on building a strong social media presence created a sense of community among its customers, instead of just selling products. Collaborations with influencers on platforms like Instagram and YouTube also helped it reach a wider audience.
Gymshark’s dedication and unique approach earned it unicorn status in 2020. Nowadays, the company is worth $1.3 billion (as of April 2023) and reported a 15% increase in revenue to £556.2 million in 2023. With its unique blend of influencer marketing, high-quality products and deep connections with its target audience, Gymshark shows no signs of slowing down anytime soon.
7. Deliveroo
Deliveroo is probably the first name that comes to mind when it comes to that long-awaited Friday night takeaway.
Since launching in February 2013, and earning its runner-up title on the Startups 20 list, Deliveroo has quickly become one of the most popular food delivery services, reshaping the way consumers enjoy restaurant meals from the comfort of their own homes.
Starting out by partnering with London-based restaurants, Deliveroo quickly expanded its reach across the UK and other countries – offering a platform where customers could connect and order from local restaurants and grocers, and get food delivered directly to their doorstep. Its vast success paved the way for achieving unicorn status in 2017. Today, Deliveroo operates in 10 markets worldwide, and as of 2024, has 7.1 million monthly active consumers across the globe.
8. Gousto
Life is hectic these days, and more often than not, people don’t have the time to cook meals from scratch.
This is something Gousto set out to solve when it launched in 2012. Targeting busy, time-poor customers, the company offers convenient meal kits that provide all the necessary ingredients to create healthy, home-cooked meals in a fraction of the time.
From the start, Gousto’s approach was a recipe for success, later achieving unicorn status in 2021. The rise in at-home cooking, fueled by busy lifestyles, helped the company tap into a rapidly expanding market for meal kit delivery services. Meanwhile, its subscription model and expanded offerings (e.g. vegan or gluten-free) helped grow its customer base further, and the company now delivers over 5 million meals a month.
9. Cera
While working as a practising physician in A&E and public health medicine, founder Ben Maruthappu was floored by the amount of unnecessary hospital visits, as well as the complicated process of organising care for a family member.
From there, he founded Cera – a digital platform that gives carers the ability to provide personalised support to people in their homes. Plus, through AI technology and predictive analytics, Cera helps identify health risks early, preventing unnecessary hospital visits and easing pressure on the NHS.
Thanks to its tech-driven approach, Cera has grown into one of the largest healthcare-at-home providers in the UK, helping it achieve unicorn status in 2022. With a workforce of over 10,000 carers and cutting-edge technology at its core, Cera continues to revolutionise home healthcare across the country.
10. Multiverse
The winner of the Startups 100 for 2021 Index, Multiverse is all about redefining education by providing high-quality apprenticeships as an alternative to traditional university degrees.
Through its data-driven platform, Multiverse connects candidates with top employers in tech, finance, media and law – equipping them with in-demand skills, hands-on experience and career mentorship to help prepare them for the modern workforce.
Since reaching unicorn status in 2022, Multiverse has continued to make a difference, having expanded to the US in 2024 and securing over 15,000 partnerships, including top firms like Google, Meta and Morgan Stanley. Today, Multiverse has successfully trained 16,000 professional apprentices and continues to empower young people with everything they need to thrive in the working world.
11. Zego
Regular insurance policies often lack flexibility, forcing businesses and gig economy workers to pay for coverage they don’t need or can’t fully use.
Founders Sten Saar and Harry Franks discovered this while working at Deliveroo, and set out to develop Zego – an on-demand, pay-as-you-go insurance platform that allows businesses and self-employed individuals to tailor their policies based on their specific needs. With this, customers only pay for what they actually use, whether it’s per hour or mile.
From the beginning, the company found a significant gap in the market for flexible, usage-based insurance for workers in industries like delivery and transportation. Partnerships with major companies like Uber and Deliveroo, plus significant investment in 2021, fueled Zego’s rapid growth and its unicorn status in 2021.
Conclusion
These unicorns are proof of just how transformative early-stage startups can be. From fintech disruptors like Revolut and Monzo to industry pioneers like Gymshark and Multiverse, these companies have reimagined their industries and built brands that resonate with millions.
Their success stories highlight the power of innovation – turning small startups into household names that reshape the way we bank, shop and work. Plus, with new businesses emerging onto the scene all the time, and technology evolving faster than ever, the next big success story could be just around the corner.
Make sure to check out the Startups 100 Index for 2025, where we showcase the most exciting and innovative startups making waves this year. And if you’re feeling inspired to start your own venture, head over to our business ideas page to help you kickstart your entrepreneurial journey today!
