Earlier this year Viva Technology unveiled its predictions for Europe’s top 100 scale-ups: the “futurecorn” companies on track to become unicorns in the near future, with the UK having more potentials on the list than any other country, with 24 soon-to-be unicorns, or soonicorns.
The UK already has 34 unicorns, which include June arrival Causeway, a company providing software to construction and engineering industries, and in the past few years, the number of Fintech unicorns has grown dramatically too – writes Aisling O’Toole, Content Writer, Jobbio.
According to 2022’s European Unicorn & Soonicorn report, it is the UK and Ireland which produce the most valuable companies. Unicorns in both regions have a combined valuation of €138bn, or more than 38% of Europe’s entire unicorn value.
Which companies will be next? Viva Technology is tipping 10xBanking and Railsbank as two Fintech futurecorns. So if you’re serious about a career in the sector, making a move to a rapidly scaling-up company on track to unicorn status can be a great way to accelerate your career. Here’s why…
No rule books
These companies are start ups, so there are no rule books, no set processes, and very often, no answers or defined team structure. If you don’t have an entrepreneurial spirit and a true desire to do something unique, working at a soonicorn might not be for you.
However, if you are determined to get ahead quickly in your career and possess a real spark for innovation, working at a unicorn is the perfect way to propel your career timeline forward and upskill at speed. Which means, don’t wait for a job to open up before you reach out and set up a meeting.
Working for a unicorn can cut out years of treading water for ambitious professionals who may languish elsewhere in middle management roles. Instead, you can propel yourself forward into a role with very little micromanaging, and a unique chance to show what you can do – because often you’re the only one doing it.
Every win creates career capital, meaning you will progress more rapidly than if you worked at a traditional company where you had to scale the ranks over time.
There are also the very real financial benefits that often come from working with a unicorn, not to mention the stock options that are often part of your package and which, if the company has a successful IPO, can deliver a stellar return. Then there are onsite benefits and perks which can add value to your day-to-day.
Plus, unicorns want first mover advantage: they want the best talent, and they’re willing to pay for it – very often, over industry average. Which means, a role at a unicorn not only impacts your career, but also your wallet.
So, do you want to work for a unicorn? Here are three UK-based companies already at unicorn status, currently hiring through the Payments Cards and Mobile Job Board.
Focusing on cross-border payments and determined to change how immigrants and their families access money, Remitly was founded in 2011, gained unicorn status in 2019 and has a current valuation of $1.5 billion.
Available in over 170 countries worldwide, Remitly recently reported its 2022 second quarter results showing continued strength and growth – with active customers increasing by 43% year-over-year, and revenue up 42%.
Hiring worldwide, vacancies in Remitly’s London office include roles such as Marketing Associate – International Growth and Principle Growth Manager – International. Check out more opportunities at Remitly.
UK challenger app Monzo launched in 2015, achieved unicorn status in 2018, and has a current valuation of €4.5 billion. Monzo wants to disrupt the banking industry in its entirety, so it contributes to open source software and encourages benefits for social networks that bank together.
Currently it has over five million customers, with over 300,000 paying for its subscription service – enough for it to secure funding of €975 million late last year from investors in a round led by Abu Dhabi Growth Fund.
Currently hiring globally, vacancies in Monzo’s UK office include senior roles across engineering, research and communications.
Taking group banking to the next level, Soldo is a multi-user spending account with MasterCard debit cards and reporting. It was founded in 2015, became a unicorn in 2018 and is currently estimated to have a value of $278 million.
Now moving into the corporate expense space, Soldo is hiring for a number of roles across its UK office, including a Head of Growth (Direct Sales), a Marketing Automation Manager and IT Project Manager. Discover other career opportunities at Soldo.