Report reveals the nations with the highest valued ‘Unicorn’ businesses

Research by the business formation experts at ZenBusiness has revealed the nations which have the largest number of high-valued, or Unicorn startups in the world. 

Unicorn startups (valued at >$1bn) were once a rare breed, but the latest count by CB Insights indicated that there are now more than 800 registered around the world, including Rapyd, Stripe and Canva.

But which nations have the most and how much are they worth? ZenBusiness have crunched the numbers to rank the 20 nations home to the most successful startups.

Table 1: The most valuable company in the nations with the most unicorns

Rank Country Number of Unicorns Most Valuable Unicorn Valuation ($ B) City Industry
1 United States 400 Stripe $95 San Francisco Fintech
2 China 158 HEYTEA $9.28 Shenzhen Food & Drink
3 India 38 OYO Rooms $9 Gurugram Travel
4 United Kingdom 31 Rapyd $8.75 London Fintech
5 Germany 18 Otto Bock HealthCare $3.52 Duderstadt Health
6 Israel 18 Transmit Security $2.74 Tel Aviv Cybersecurity
7 France 17 Sorare $3.8 Paris E-commerce
8 Canada 14 SSENSE $4.15 Montreal E-commerce
9 Brazil 13 Nubank $30 São Paulo Fintech
10 South Korea 10 Toss $7.4 Seoul Fintech
11 Singapore 8 Grab $14.3 Singapore Auto
12 Hong Kong 6 FTX $18 Hong Kong Fintech
13 Australia 6 Canva $15 Surry Hills Internet software
14 Japan 6 Preferred Networks $2 Tokyo Artificial intelligence
15 Switzerland 5 Acronis $2.5 Schaffhausen Cybersecurity
16 Sweden 4 Klarna $45.6 Stockholm Fintech
17 Indonesia 4 J&T Express $7.8 Jakarta Logistics
18 Netherlands 4 Mollie $6.5 Amsterdam Fintech
19 Mexico 3 Kavak $4 Lerma de Villada E-commerce
20 Ireland 3 BrowserStack $4 Dublin Internet software

Source: ZenBusiness

Six Billion Dollar Unicorn Businesses

Unicorn businesses are unique in the fact that they are independently owned, and have a business valuation of over $1bn. But which nations have the most and how much are they worth? 

Interested in finding out more about these billion dollar businesses, research by the business formation experts at ZenBusiness have picked the most valuable unicorn startup in 20 of the world’s wealthiest countries, and discovered what makes them so unique.


Valuation: $95bn

Headquarters: San Francisco, USA

Industry: Fintech

Stripe is a technology company that allows small businesses to take payments for goods and services easily. The company was founded in 2009 in California by two brothers John and Patrick Collison. Their mission statement is to ‘increase the GDP of the internet’ by giving small businesses the power to take payments, without going through traditional banking routes.

The company boasts investments from PayPal, Elon Musk and venture capital firm Sequoia Capital, amongst others.


Valuation: $9.28

Headquarters: Shenzhen

Industry: Food & Drink

HeyTea is a Chinese tea shop that specializes in cheese-topped tea and fruit tea. Founded in 2015, the company now has 265 stores across 37 Chinese cities, plus three stores in Singapore.

The brand is known for its interior design and packaging which are shared widely across social media platforms, which ties in with millennials being HeyTea’s main customer demographic.

OYO Rooms

Valuation: $9

Headquarters: Gurugram, India


OYO Rooms is an Indian chain of hotels, homes and living spaces. Founded in 2013, the company began its operations with budget hotels, but following expansion, OYO has hotels and vacation homes across 80 different countries. The chain employs over 17,000 people, most of which are in India and South Asia

The company’s investors include SoftBank Group, Didi Chuxing, Greenoaks Capital, Sequoia India, Lightspeed India, Hero Enterprise, Airbnb and China Lodging Group.


Valuation: $8.75bn

Headquarters: London, United Kingdom

Industry: Fintech

Rapyd is a fintech company which helps businesses who need to make cross-border payments and access banking services. They offer digital wallets, fraud protection, money transfers, invoicing, multi-currency support and point of sale solutions.

Rapyd has experienced rapid growth this year and according to TechCrunch, the total payment volume that Rapyd processes is on target to pass $20 billion this year, a four-fold increase on 2020’s volume of $5 billion.

Otto Bock HealthCare


Headquarters: Duderstadt

Industry: Health

Ottobock is a manufacturer and supplier of prosthetic limbs and has been operating in Germany for more than 100 years. The company develops innovative products and is proud to say they invest 9% of their turnover into research and development.

The market leader employs 8000 employees in over 50 countries and have 240 patient-care centres.

Transmit Security

Valuation: $2.74

Headquarters: Tel Aviv

Industry: Cybersecurity

Transmit Security is a cybersecurity company who was  co-founded by Mickey Boodaei and Rakesh Loonkar in 2014 with the aim of changing the security identity landscape.

Founded in 2014 with the aim of changing the identity security space, Transmit Security say they want to create a password-less environment to meet the needs of the ever changing security space.


Valuation: $3.8

Headquarters: Paris

Industry: E-commerce

Sorare is a game of fantasy soccer where players buy, sell and trade around a virtual soccer team. The game uses innovative blockchain technology and was developed in 2018 by Nicolas Julia and Adrien Montfort.

Sorare has just been through a funding round which raised over $500 million with celebrity soccer players like Antoine Griezmann investing in the game. Analysts have reported that at $3.8 billion, Sorare’s valuation would be 20 times estimated revenue which is similar to Facebook when it first went public.


Valuation: $4.15

Headquarters: Montreal

Industry: E-commerce

SSENSE is an e-commerce designer fashion retailer based in Montreal, Canada. The company specialises in the sale of high end designer and streetwear clothing. It was funded as an e-commerce platform in 2003 by Rami, Bassel and Firas Atallah.