Thanks to a sharp increase in value for companies such as Clarna, Spotify and Evolution Gaming, investment firm G.P. According to a new report by Bullhound, Sweden has topped the list of most valuable European technology companies for the first time.
As of May 12, 2021, the total value of Swedish technology companies was $ 151 billion. The second largest UK is worth $ 149 billion. Germany is in third place with $ 119 billion, with both Israel and the Netherlands having a total value of $ 90 billion.
Together with Spodify and Evolution Gaming, Clarna owns 73 percent of the total value of Swedish technology companies as of May 12.
G.P. According to Bullhound partner Carl Weisberg, Swedish companies should initially scale internationally, which explains some of their success. But network effects can also play a role.
– Many of the fastest growing exciting technology companies today are started by founders who have worked on SpotFi, Clarna, Skype, iSet and many more. The inspiration and network effects that come from this should not be underestimated, he says in a written comment.
The overall European technology enterprise ecosystem is valued at $ 801 billion, which is close to doubling in the last 12 months.
As of May 12, there were 52 unicorns in Europe, with a total value of $ 94 billion for companies worth $ 1 billion. This is the GPS for 2020. 60 percent similar to the new unicorns compared to the Bullhound report. There are a total of 13 unicorns in Sweden, comparable to 37 in the UK, leading in the number of unicorns.
Access to capital was not an issue for European technology companies during epidemics.
– It is a combination of historically low interest rates, so high capital gains, as well as the self-strengthening phenomenon, fast-growing technology companies have shown repeated value growth in recent years, thus making good returns to investors. The epidemic has accelerated digitalization in many sectors, and interest in savings and investment may have generally increased. As for specific enterprise growth capital, it has been at record levels for many years, so Carl Weisberg says the opportunities for European technology entrepreneurs to finance rapid growth are excellent.