A FinTech in Wales is on track for Unicorn status, according to a report by the government and Dealroom.co.
Sonovate provides finance and technology solutions to businesses that engage contractors and freelancers.
It’s been tipped as a potential unicorn by the UK government’s Digital Economy Council and Dealroom in their latest report.
It’s one of 132 potential unicorns in the report but most are based in London.
What does this mean?
If Sonovate does become a unicorn in the future, it will be the first based in Wales. There are currently 27 unicorns in the UK according to This is Money.