UK-listed fintech investor Augmentum raises £55m in latest funding round
UK-based fintech venture capital firm Augmentum has raised £55 million in capital from its latest investment round, surpassing an initial target of £40 million.
The company invests in early and later fintech businesses that are disrupting the banking, insurance, asset management and wider financial services sectors. It launched on the main market of the London Stock Exchange (LSE) in 2018.
In the latest funding round, over 40,000,000 shares were issued at 135.5p per share and the fundraise was carried out through a placing, open offer.
This was a 6.1% discount to the firm’s closing price of 144.25p on 11 June. Singer Capital Markets, previously N+1 Singer, was one of the brokers on the transaction.
This is the firm’s third round since the 2018 initial public offering (IPO). Augmentum CEO Tim Levene noted that the latest funding reflects investor interest in Europe’s booming fintech markets.
He says: “This is especially the case given the steep change seen in digital adoption as a result of the disruption caused by Covid which has benefited many of our portfolio companies, and which is a trend that looks set to continue.”
Augmentum’s current portfolio includes Habito, iwoca, Monese, onfido, Tide, Volt and Zopa.