Augmentum Fintech plc invests total of £7min fintech companies

Augmentum Fintech plc invests total of £7min fintech companies
20.08.2018 08:14 am

Augmentum Fintech plc invests total of £7min fintech companies

Investment Management

Augmentum Fintech plc (LSE: AUGM) (“Augmentum” or the “Company”), one of Europe’s leading fintech venture capital investors, announces an aggregate of £7 million of investment in three leading European fintech companies – Tide, Previse and DueDil.

Tide

Augmentum has invested a £3 million convertible note as part of an £8 million funding round alongside existing investors. Tide (www.tide.co) is an emerging leader in SME challenger banking, based in London. The new funds are being raised as the company prepares for rapid expansion and develops more features on its platform to ease the administrative burden faced by small businesses. Existing investors participating in the investment include Anthemis, Creandum, Local Globe and Passion Capital.

Previse

Augmentum has invested £2 million in Previse as part of a £5.3 million Series A financing.Previse (www.previ.se) uses machine learning to give multinational companies tools and incentives to pay suppliers instantly on receipt of invoices. This avoids the costs and inefficiencies associated with delayed payment terms whilst transforming the prospects of businesses, often SMEs, which supply large global corporations. Previse, headquartered in London, estimates that this market is worth US$300 billion annually. Co-investors in this round alongside Augmentum include Bessemer Venture Partners and Hambro Perks.

DueDil

Augmentum has invested £2 million as part of a Series C financing of up to £8 million in London-based DueDil (www.duedil.com), which is building the world's most complete source of information on private companies and the people behind them. DueDil’s proprietary matching technology links together data from authoritative sources, helping DueDil's customers find, verify and monitor opportunities and risks. More than 400 leading financial services and technology companies rely on DueDil's web platform and API as an end-to-end solution for new business prospecting, compliance on-boarding and risk assessment and monitoring. Co-investors in this round alongside Augmentum include Oak Investment Partners, Notion Capital and VentureFounders.

Tim Levene, CEO of Augmentum Fintech, said: “Since our IPO we have built an exciting pipeline of fintech investment opportunities and are delighted to announce the completion of these three investments, each of which fit perfectly with our approach to investment. These companies deliver propositions that are disrupting their markets, challenging incumbents and bringing huge efficiencies to the end customer. At Augmentum we look for opportunities where we can add value to a company beyond a simple financial contribution. In particular, we seek out talented, driven management teams and help them to achieve their potential.”

Related News

Tinkoff Bank launches Tinkoff Investments Premium

Tinkoff Bank announces the launch of Tinkoff Investments Premium ... Read more »

Profile Software is sponsoring the UK Finance Digital Innovation Summit

Profile Software, an international financial solutions provider, announced today that it supports the proceedings of the UK Finance Digital Innovation Summit, taking place on... Read more »

CoInvestor Technologies selected for Tech Nation’s FinTech Programme

CoInvestor Technologies (CoInvestor), has been selected to be part of... Read more »

Infosys and Temasek Set Up A Joint Venture in Singapore

 Infosys (NYSE: INFY), a global leader in consulting, technology and next-generation services, today announced the... Read more »

Caitong Securities goes live with Horizon platform for Options trading on Shanghai Stock Exchange

Horizon Software(Horizon), the leading global technology provider for electronic trading and investment management,... Read more »

SoftBank Vision Fund to put $100m into China tech joint venture

Softbank’s Vision Fund is to make a $100m investment to expand the technology business of Chinese online insurer ZhongAn. The $100bn investment fund, which has shaken up the... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App