Hurun Unicorn Index 2025: Five European Countries Leading the Global Rankings

The Hurun Research Institute released the Global Unicorn Index 2025, listing private companies founded after 2000 and valued at over $1 billion. There are 1,523 unicorns worldwide, and Europe plays a strong role thanks to its leading countries.

European Countires in HURUN Unicorn List 2025

The UK, Germany, and France are Europe’s top unicorn nations, ranking 4th, 5th, and 6th globally.

• The UK, led by London, dominates Europe’s unicorn scene.
• Germany is strong in software and tech.
• France is becoming a major hub for innovation.

Together, the European Union (27 countries) has 109 unicorns, about 8% of the global total. The UK alone makes up over 25% of Europe’s unicorns. These countries continue to show strength in startups, even during challenging times.

European countries and their rankings in the Hurun Global Unicorn Index 2025

The UK ranks 4th globally and stands as the leading unicorn hub in Europe, largely due to the strong presence of startups in London. Germany and France follow closely, holding the 5th and 6th positions with Berlin and Paris serving as their key startup cities. Other European countries like Sweden, the Netherlands, and Switzerland also have vibrant startup ecosystems, particularly in FinTech, health tech, and climate tech. Estonia, despite its small size, performs exceptionally well and ranks high in unicorns per capita.

Top 10 Countries in the Hurun Unicorn Index 2025

The Hurun Global Unicorn Index 2025 ranks the world’s most valuable private startups—each valued at $1 billion or more. This year, the list includes 1,523 unicorns from 53 countries, reflecting the rapid global growth of the startup ecosystem.

Global Rankings by Country (2025)

United States – 758 unicorns

The U.S. remains the undisputed leader, contributing nearly 50% of all global unicorns. Top cities like San Francisco, New York, and Los Angeles are home to major players in AI, FinTech, SaaS, and biotech.

China – 343 unicorns

China holds the second spot, led by tech hubs such as Beijing, Shanghai, and Shenzhen. Many of its unicorns operate in semiconductors, AI, green energy, and e-commerce.

India – 64 unicorns

India ranks third globally. Despite a slight drop from last year, it remains a major force in FinTech, SaaS, and consumer platforms. Notably, Indian founders have also co-founded 109 unicorns abroad, especially in the U.S.

United Kingdom – 61 unicorns

The UK leads Europe and ranks 4th globally, with London as its startup capital. FinTech and enterprise software continue to drive the UK’s unicorn growth.

Germany – 36 unicorns

Germany stands 5th, with strong performance in SaaS, AI, and climate tech. Berlin and Munich are key unicorn hubs.

France – 30 unicorns

France is 6th, with Paris emerging as a vibrant startup ecosystem, producing unicorns in Web3, FinTech, and AI.

Canada – 28 unicorns

Canada ranks 7th, with unicorns spread across Toronto, Vancouver, and Montreal, mainly in AI and health tech.

Israel – 20 unicorns

Israel, a global innovation leader, is 8th, with deep strength in cybersecurity, enterprise software, and defense tech.

South Korea – 18 unicorns

Tied in 9th place, South Korea is home to unicorns in gaming, e-commerce, and FinTech, largely based in Seoul.

Singapore – 18 unicorns

Also ranked 9th, Singapore punches above its weight, hosting unicorns in logistics, crypto, and digital finance.

Conclusion

The Hurun Unicorn Index 2025 highlights Europe’s growing strength in the global startup landscape. With the UK, Germany, France, Sweden and the Netherlands leading the way Europe has proven it can compete with global tech powerhouses. These five countries not only rank among the world’s top unicorn hubs but also showcase the continent’s innovation in sectors like FinTech, SaaS, AI and climate tech. As investor confidence and government support continue to rise, Europe is well-positioned to shape the next generation of billion-dollar startups.

Faqs – Hurun Unicorn Index 2025

What is the Hurun Unicorn Index 2025?

The Hurun Unicorn Index 2025 is a ranking of privately-held startups worldwide that are valued at $1 billion or more. It tracks the number, location, and sectors of these unicorns.

Which European country has the most unicorns in 2025?

The United Kingdom leads Europe with 61 unicorns, making it the 4th largest unicorn hub globally.

What makes Europe’s unicorn ecosystem unique?

Europe’s unicorns are often more focused on sustainability, data privacy, and regulated sectors like health and finance. Strong public funding and pan-European collaboration also support growth.