Augmentum Fintech Plc New investments totalling GBP7 million

 
TIDMAUGM 
 
20 August 2018 
 
                             Augmentum Fintech plc 
 
     Augmentum Fintech plc announces new investments totalling GBP7 million 
 
Augmentum Fintech plc (LSE: AUGM) ("Augmentum" or the "Company"), one of 
Europe's leading fintech venture capital investors, announces an aggregate of GBP 
7 million of investment in three leading European fintech companies - Tide, 
Previse and DueDil. 
 
  * GBP3 million in Tide, an emerging leader in SME challenger banking, as part 
    of an GBP8 million funding round alongside existing investors 
 
  * GBP2 million investment in Previse, the global instant supplier payment 
    company, as Lead Investor with Bessemer Venture Partners as part of a GBP5.3 
    million Series A funding round 
 
  * GBP2 million investment in DueDil, the private company information platform, 
    as part of a funding round of up to GBP8 million 
 
Tide 
 
Augmentum has invested a GBP3 million convertible note as part of an GBP8 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 GBP2 million in Previse as part of a GBP5.3 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 GBP2 million as part of a Series C financing of up to GBP8 
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." 
 
 
Ends 
 
 
For further information, please contact: 
 
  Augmentum                      [e-mail] 
  Tim Levene                       [phone] 
  Richard Matthews                 [phone] 
  Nigel Szembel 
 
  Fidante Capital                  [phone] 
  Tom Skinner 
  Nick Donovan 
 
  Newgate Communications           [e-mail] 
  Bob Huxford                      [phone] 
  Robin Tozer 
 
 
Notes 
 
About Augmentum Fintech plc: 
 
Augmentum Fintech plc is one of Europe's leading venture capital investors 
focusing exclusively on the fintech sector. Augmentum invests in fast growing 
fintech businesses that are disrupting the banking, insurance, asset management 
and wider financial services sectors. Augmentum is the only listed 
fintech-focused venture capital firm in the UK, having launched on the main 
market of the London Stock Exchange in 2018, giving businesses access to 
patient capital and support, unrestricted by conventional fund timelines. 
 
 
 
END 
 

(END) Dow Jones Newswires

August 20, 2018 02:00 ET (06:00 GMT)