SaaS pips fintech as largest unicorn creator in 2022: Orios

A sudden and surprising momentum helped software-as-a-service (SaaS) dethrone fintech as the sector that produced the greatest number of unicorns in a year in the country in 2022, early-stage venture capital fund Orios Venture Partners said on Tuesday.

However, many of the SaaS unicorns reached the coveted $1-billion valuation on the back of inflated price-to-valuation ratios, Orios managing partner Rehan Yar Khan told ET.