The firm tipped to be Wales’ first $1bn Fintech Unicorn

The firm tipped to be Wales’ first $1bn Fintech Unicorn

Sonovate is on course to become the first fintech ‘unicorn’ in Wales, according to independent research.

The report by the UK government’s Digital Economy Council and data firm names the Cardiff-headquartered disruptor as a potential future unicorn.

Sonovate, which provides finance and tech solutions to recruitment agencies and other businesses that engage contractors and freelancers, is the only Welsh business named in the list of future UK unicorns – technology startups that achieve a valuation of $1bn.

Of the 132 potential unicorns named in the report, 83 are based in London. Scotland has four while the North West of England has five.

Sonovate is highlighted as a ‘futurecorn’ alongside the likes of peer-to-peer lending pioneer Zopa, app-based bank Atom Bank, connected car data specialist Wejo and renewable energy supplier Bulb.

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Source: The Firm Tipped to Be Wales’ First $1bn Fintech Unicorn – Business News Wales