Augmentum Fintech bids to raise fresh funds

Augmentum Fintech bids to raise fresh funds

London-listed fintech investment fund Augmentum Fintech is looking to build a new multi-million pound war chest having substantially committed most of the net cash proceeds of its £94 million IPO last year.

Augmentum's portfolio now comprises investments in fifteen fintech companies, including nine made since the company’s IPO in March last year. Recent additions to the portfolio include a £7.5 million stake in SME lender iwoca, £4 million on legal service Farewill, a £4 million investment in ID verification platform Onfido, plus an additional £1 million injection into challenger bank Tide.

The company says that over the past year it has reviewed more than 500 investment opportunities with a combined value of over £1 billion.

Having deployed £32.4m since the IPO, and with £15 million earmarked for follow-on investments into the existing portfolio, Augmentum is planning a new share offering to target an identified £300 million pipeline.

Tim Levene, CEO of Augmentum Fintech, says: “The wider UK capital markets’ lack of exposure to fintech venture capital remains a challenge for the sector’s ecosystem. Augmentum has created a structure that gives investors a more straightforward opportunity to access this emerging asset class through investment in a public company.”

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