Unicorns & thoroughbreds
Unicorns in Germany
Dealroom tracks 88 unicorns headquartered in Germany — companies that reached a verified $1B+ valuation — worth $420.6B combined, plus 69 thoroughbreds generating $100M+ in annual revenue. Updated August 2026.
88Unicorns ($1B+ valuation)
5Valued at $10B or more
69Thoroughbreds ($100M+ revenue)
$420.6BCombined unicorn valuation
Every unicorn in Germany
All 88 companies headquartered in Germany that reached a verified $1B+ valuation, ranked by latest valuation. Click a company for its full Dealroom profile.
| # | Company | Sector | HQ | Founded | Valuation | Status |
|---|---|---|---|---|---|---|
| 1 | SAP | Marketing | Walldorf | 1972 | $205B | IPO 1998 |
| 2 | Helsing | Defence | Munich | 2021 | $18B | Private |
| 3 | Delivery Hero | eCommerce & Marketplaces | Berlin | 2011 | $15B | IPO 2017 |
| 4 | Celonis | AI | Munich | 2011 | $13B | Private |
| 5 | Trade Republic | Fintech | Berlin | 2015 | $13B | Private |
| 6 | Zalando | eCommerce & Marketplaces | Berlin | 2008 | $7.9B | IPO 2014 |
| 7 | Quantum Systems | Defence | Gilching | 2015 | $7.7B | Private |
| 8 | AUTO1 Group | Fintech | Berlin | 2012 | $7.1B | IPO 2021 |
| 9 | BioNTech | Biotech & Life Sciences | Mainz | 2008 | $7B | IPO 2019 |
| 10 | Neura Robotics | Robotics | Metzingen | 2019 | $7B | Private |
| 11 | N26 | Fintech | Berlin | 2013 | $6B | Private |
| 12 | N8n | AI | Berlin | 2019 | $5.2B | Private |
| 13 | Personio | Other | Munich | 2015 | $5B | Private |
| 14 | Stark | Defence | Berlin | 2024 | $3.5B | Private |
| 15 | Flix | Transportation | Munich | 2011 | $3.3B | Private |
| 16 | Dermapharm | Biotech & Life Sciences | Grünwald | 1991 | $3.3B | IPO 2018 |
| 17 | Black Forest Labs | AI | Freiburg | 2024 | $3.3B | Private |
| 18 | Tubulis | Biotech & Life Sciences | Planegg | 2019 | $3.1B | Private |
| 19 | Parloa | AI | Berlin | 2017 | $3B | Private |
| 20 | ATAI Life Sciences | Biotech & Life Sciences | Berlin | 2018 | $2.8B | IPO 2021 |
| 21 | MorphoSys | Biotech & Life Sciences | Planegg | 1992 | $2.7B | IPO 2018 |
| 22 | Proxima Fusion | Energy | Munich | 2023 | $2.6B | Private |
| 23 | IFCO Systems | Food | Pullach im Isartal | 1992 | $2.5B | IPO 2000 |
| 24 | Enpal | Energy | Berlin | 2017 | $2.5B | Private |
| 25 | 1KOMMA5° | Energy | Hamburg | 2021 | $2.4B | Private |
| 26 | Sennder | Transportation | Berlin | 2015 | $2.1B | Private |
| 27 | Forto | Transportation | Berlin | 2016 | $2.1B | Private |
| 28 | TeamViewer | Other B2B Software | Göppingen | 2005 | $2B | Private |
| 29 | DeepL | AI | Cologne | 2009 | $2B | Private |
| 30 | GetYourGuide | eCommerce & Marketplaces | Berlin | 2009 | $2B | Private |
| 31 | Zooplus | eCommerce & Marketplaces | Munich | 1999 | $2B | IPO 2008 |
| 32 | commercetools | Marketing | Munich | 2006 | $1.9B | Private |
| 33 | Rocket Internet | Marketing | Berlin | 2007 | $1.9B | IPO 2014 |
| 34 | Isar Aerospace | Space | Ottobrunn | 2018 | $1.8B | Private |
| 35 | Berlin Brands Group | eCommerce & Marketplaces | Berlin | 2005 | $1.8B | Private |
| 36 | Scalable Capital | Fintech | Munich | 2014 | $1.7B | Private |
| 37 | Check24 | Fintech | Munich | 1999 | $1.6B | Private |
| 38 | The StepStone Group | eCommerce & Marketplaces | Düsseldorf | 1996 | $1.5B | IPO 2000 |
| 39 | Ganymed Pharmaceuticals | Biotech & Life Sciences | Mainz | 2001 | $1.4B | Private |
| 40 | About You | eCommerce & Marketplaces | Hamburg | 2013 | $1.3B | IPO 2021 |
| 41 | Choco | eCommerce & Marketplaces | Berlin | 2018 | $1.3B | Private |
| 42 | MYR | Biotech & Life Sciences | Bad Homburg | 2011 | $1.3B | Private |
| 43 | Contentful | Other B2B Software | Berlin | 2013 | $1.3B | Private |
| 44 | Gorillas | eCommerce & Marketplaces | Berlin | 2020 | $1.2B | Private |
| 45 | EGYM | Other | Munich | 2010 | $1.2B | Private |
| 46 | Signavio | Other B2B Software | Berlin | 2009 | $1.2B | Private |
| 47 | LeanIX | Other B2B Software | Bonn | 2012 | $1.2B | Private |
| 48 | secunet | Defence | Essen | 1996 | $1.2B | IPO 2009 |
| 49 | Cardior Pharmaceuticals | Biotech & Life Sciences | Hanover | 2016 | $1.1B | Private |
| 50 | Bike leasing service | Transportation | Uslar | 2016 | $1.1B | Private |
| 51 | smava | Fintech | Berlin | 2007 | $1.1B | Private |
| 52 | FINN | Transportation | Munich | 2019 | $1.1B | Private |
| 53 | Raisin | Fintech | Berlin | 2012 | $1.1B | Private |
| 54 | Yunex Traffic | Transportation | Munich | 2021 | $1.1B | Private |
| 55 | Flaschenpost | eCommerce & Marketplaces | Münster | 2014 | $1.1B | Private |
| 56 | Staffbase | Other B2B Software | Chemnitz | 2014 | $1.1B | Private |
| 57 | Deposit Solutions | Fintech | Hamburg | 2011 | $1.1B | Private |
| 58 | Tonies | eCommerce & Marketplaces | Düsseldorf | 2014 | $1.1B | Private |
| 59 | CMBlu Energy | Energy | Alzenau | 2014 | $1.1B | Private |
| 60 | Prior Labs | AI | Freiburg | 2024 | $1.1B | Private |
| 61 | Medifox Dan | Other | Hildesheim | 1994 | $1.1B | Private |
| 62 | Agile Robots | Robotics | Munich | 2018 | $1B | Private |
| 63 | MediFox | Health Tech & Medtech | Wangen im Allgäu | 1994 | $1B | Private |
| 64 | Hornetsecurity | Cybersecurity | Hanover | 2007 | $1B | Private |
| 65 | Onefootball | Other | Berlin | 2008 | $1B | Private |
| 66 | NiCE Cognigy | AI | Düsseldorf | 2016 | $1B | Private |
| 67 | Clark | Fintech | Frankfurt | 2015 | $1B | Private |
| 68 | Adjust | Marketing | Berlin | 2012 | $1B | Private |
| 69 | Taxfix | Fintech | Berlin | 2016 | $1B | Private |
| 70 | Chrono24 | eCommerce & Marketplaces | Karlsruhe | 2003 | $1B | Private |
| 71 | Hybris | Marketing | Munich | 1997 | $1B | Private |
| 72 | osapiens | AI | Mannheim | 2018 | $1B | Private |
| 73 | Focused Energy | Energy | Darmstadt | 2021 | $1B | Private |
| 74 | Flink | Transportation | Berlin | 2020 | $900M | Private |
| 75 | Razor | eCommerce & Marketplaces | Berlin | 2020 | $660M | Private |
| 76 | Evotec | Biotech & Life Sciences | Hamburg | 1993 | $616M | IPO 2012 |
| 77 | Urban Sports Club | eCommerce & Marketplaces | Berlin | 2012 | $600M | Private |
| 78 | CureVac | Biotech & Life Sciences | Tübingen | 2000 | $599M | IPO 2020 |
| 79 | HelloFresh | eCommerce & Marketplaces | Berlin | 2011 | $468M | IPO 2017 |
| 80 | Anbio Biotechnology | Biotech & Life Sciences | Frankfurt | 2021 | $444M | IPO 2025 |
| 81 | New Work | XING | eCommerce & Marketplaces | Hamburg | 2003 | $338M | IPO 2006 |
| 82 | Trivago | eCommerce & Marketplaces | Düsseldorf | 2005 | $265M | Private |
| 83 | Westwing | eCommerce & Marketplaces | Munich | 2011 | $238M | IPO 2018 |
| 84 | HomeToGo | eCommerce & Marketplaces | Berlin | 2014 | $203M | Public via SPAC 2021 |
| 85 | WireCard | Fintech | Aschheim | 1999 | $100M | IPO 2005 |
| 86 | Omio | Transportation | Berlin | 2012 | $60M | Private |
| 87 | Mister Spex | eCommerce & Marketplaces | Berlin | 2007 | $52M | IPO 2021 |
| 88 | Lilium | Aviation | Gauting | 2015 | $-80M | Public via SPAC 2021 |
Thoroughbreds — the $100M+ revenue tier
Dealroom's revenue milestone: 69 Germany companies past $100M in annual revenue, proof of traction beyond paper valuations.
| # | Company | Sector | HQ | Founded | Valuation | Status |
|---|---|---|---|---|---|---|
| 1 | Scout24 | Transportation | Munich | 1999 | $6B | Private |
| 2 | ROCKIT-INTERNET | Marketing | Munich | 2002 | $2.5B | Private |
| 3 | ENVIRIA | Energy | Frankfurt | 2017 | $1.2B | Private |
| 4 | flatexDEGIRO | Fintech | Frankfurt | 1999 | $892M | IPO 2009 |
| 5 | Immatics biotechnologies | Biotech & Life Sciences | Tübingen | 2000 | $755M | Public via SPAC 2020 |
| 6 | Blacklane | Transportation | Berlin | 2011 | $550M | Private |
| 7 | wefox | Fintech | Berlin | 2014 | $530M | Private |
| 8 | Deutsche Rohstoff AG | Energy | Heidelberg | 2006 | $512M | IPO 2010 |
| 9 | yfood Labs | eCommerce & Marketplaces | Munich | 2017 | $495M | Private |
| 10 | McMakler | eCommerce & Marketplaces | Berlin | 2015 | $440M | Private |
| 11 | Patient21 | Health Tech & Medtech | Berlin | 2019 | $420M | Private |
| 12 | Holidu | eCommerce & Marketplaces | Munich | 2014 | $413M | Private |
| 13 | Home24 | eCommerce & Marketplaces | Berlin | 2009 | $398M | IPO 2018 |
| 14 | Atolls | eCommerce & Marketplaces | Munich | 2012 | $330M | Private |
| 15 | Goodgame Studios | Consumer Services | Hamburg | 2009 | $297M | Private |
| 16 | InnoGames | Other | Hamburg | 2007 | $286M | Private |
| 17 | KoRo | eCommerce & Marketplaces | Berlin | 2014 | $275M | Private |
| 18 | Tink | eCommerce & Marketplaces | Berlin | 2016 | $264M | Private |
| 19 | air up | Food | Munich | 2018 | $264M | Private |
| 20 | momox | eCommerce & Marketplaces | Berlin | 2004 | $250M | Private |
| 21 | WorkMotion | Other B2B Software | Berlin | 2020 | $240M | Private |
| 22 | Schüttflix | eCommerce & Marketplaces | Gütersloh | 2018 | $236M | Private |
| 23 | Pliant | Fintech | Berlin | 2020 | $232M | Private |
| 24 | Seven Senders | Transportation | Berlin | 2015 | $218M | Private |
| 25 | Fashionette | eCommerce & Marketplaces | Düsseldorf | 2008 | $192M | Private |
| 26 | Everphone | eCommerce & Marketplaces | Berlin | 2016 | $172M | Private |
| 27 | ITM Radiopharma | Biotech & Life Sciences | Garching bei München | 2004 | $165M | Private |
| 28 | Chronext | eCommerce & Marketplaces | Cologne | 2013 | $155M | Private |
| 29 | reBuy | eCommerce & Marketplaces | Berlin | 2009 | $139M | Private |
| 30 | asgoodasnew | eCommerce & Marketplaces | Frankfurt | 2008 | $119M | Private |
| 31 | Delticom | Transportation | Hanover | 1999 | $111M | IPO 2006 |
| 32 | Solaris | Fintech | Berlin | 2016 | $110M | Private |
| 33 | Spark Networks | Other | Berlin | 1997 | $97M | IPO 2006 |
| 34 | 123 TV | eCommerce & Marketplaces | Grünwald | 1998 | $95M | Private |
| 35 | DFV Deutsche Familienversicherung | Fintech | Frankfurt | 2007 | $93M | IPO 2018 |
| 36 | Marley Spoon | eCommerce & Marketplaces | Berlin | 2014 | $87M | IPO 2018 |
| 37 | AlphaPet Ventures | eCommerce & Marketplaces | Munich | 2016 | $86M | Private |
| 38 | Centogene | Biotech & Life Sciences | Rostock | 2006 | $76M | IPO 2019 |
| 39 | ESFORIN | Energy | Essen | 2014 | $50M | Private |
| 40 | MILES Mobility | Transportation | Berlin | 2016 | $33M | Private |
| 41 | ConCardis | Fintech | Eschborn | 2003 | — | Private |
| 42 | Occhio | Energy | Munich | 1999 | — | Private |
| 43 | Followfood | Food | Friedrichshafen | 2009 | — | Private |
| 44 | Wow Tech Group | Other | Berlin | 2018 | — | Private |
| 45 | PlanetHome | eCommerce & Marketplaces | Unterföhring | 2000 | — | Private |
| 46 | Asap Holding | Transportation | Gaimersheim | 2007 | — | Private |
| 47 | Fashion For Home | eCommerce & Marketplaces | Berlin | 2009 | — | Private |
| 48 | Next Kraftwerke | Energy | Cologne | 2009 | — | Private |
| 49 | Unite | Fintech | Leipzig | 1999 | — | Private |
| 50 | Trendtours | eCommerce & Marketplaces | Eschborn | 2004 | — | Private |
| 51 | Emma | eCommerce & Marketplaces | Frankfurt | 2013 | — | Private |
| 52 | Landwärme | Energy | Munich | 2007 | — | Private |
| 53 | Surplex | eCommerce & Marketplaces | Düsseldorf | 1999 | — | Private |
| 54 | jobvalley | eCommerce & Marketplaces | Cologne | 2008 | — | Private |
| 55 | Parship | Other | Hamburg | 2000 | — | Private |
| 56 | Babbel | Edtech | Berlin | 2007 | — | Private |
| 57 | Picanova | eCommerce & Marketplaces | Germany | 2004 | — | Private |
| 58 | Showheroes | eCommerce & Marketplaces | Berlin | 2016 | — | Private |
| 59 | PubNative GmbH | Marketing | Berlin | 2014 | — | Private |
| 60 | Spreadshirt | eCommerce & Marketplaces | Leipzig | 2002 | — | Private |
| 61 | Almedia | Marketing | Berlin | 2020 | — | Private |
| 62 | Remerge | Marketing | Berlin | 2014 | — | Private |
| 63 | Alfmeier Präzision | Transportation | Germany | 1997 | — | Private |
| 64 | ComputerUniverse.net | eCommerce & Marketplaces | Friedberg | 1999 | — | Private |
| 65 | Awin | Marketing | Berlin | 2000 | — | Private |
| 66 | Parship | eCommerce & Marketplaces | Hamburg | 2001 | — | Private |
| 67 | Krankenhaus.de | Health Tech & Medtech | Berlin | 2018 | — | Private |
| 68 | kfzteile24 | Transportation | Berlin | 2001 | — | Private |
| 69 | CLIQ Digital | Consumer Services | Düsseldorf | 2003 | $-11M | IPO 2005 |
Frequently asked questions
How many unicorns are there in Germany?
Dealroom tracks 88 unicorns headquartered in Germany as of August 2026, worth $420.6B combined. 5 of them are valued at $10B or more.
What are the biggest unicorns in Germany?
The three most valuable are SAP, Helsing, Delivery Hero. Berlin is the top hub with 31 of them.
What counts as a unicorn — and what is a thoroughbred?
A unicorn is a company that reached a $1B+ valuation, verified by Dealroom. A thoroughbred is Dealroom's revenue-based tier: a startup-era company generating $100M+ in annual revenue — traction, not just paper valuation.