Tech IPOs raise more cash

The number of tech IPOs on the London Stock Exchange (LSE) raised a record £6.6 billion last year more than doubling the figure that was raised in 2020.

Last year saw 37 tech and consumer internet companies going public on the LSE last year out of of the 126 companies.

Figures from the Department of Digital, Culture, Media and Sport (DCMS)  said the 37 tech IPOs compare with just eight in 2020, which raised £3.1 billion.

Digital minister Chris Philp said: “2021 was a brilliant year for UK tech and it’s great to see just how many companies have grown from start-up to scale-up, to finally becoming publicly listed businesses on the London markets.”

Fintech was a key category among the tech companies making public debuts in 2021, with a total of seven companies listing including LendInvest, PensionBee and Wise.

E-commerce companies were another dominant category, which the DCMS said “illustrated the increasing trend towards online shopping which accelerated sharply during the pandemic”.