Augmentum Fintech Plc Portfolio update: Seedrs - Crowdcube merger; and Tide

 
TIDMAUGM 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF 
THE EU MARKET ABUSE REGULATION 596/2014. 
 
06 October 2020 
 
                             Augmentum Fintech plc 
 
                               Portfolio Update 
 
Seedrs and Crowdcube announce merger plans; Tide awarded GBP25 million grant from 
                     the RBS Alternative Remedies Package 
 
Augmentum Fintech plc (LSE: AUGM) ("Augmentum" or "the Company"), the UK's only 
publicly listed fintech investment company, welcomes developments at two 
portfolio companies. 
 
Seedrs, the equity crowdfunding platform, has announced plans to merge with 
Crowdcube creating one of the world's largest private equity marketplaces. The 
merger is subject to approval from, amongst others, the Competition & Markets 
Authority (CMA), the Financial Conduct Authority (FCA) and both companies' 
shareholders. At year end 31 March 2020, Seedrs represented approximately 1.2% 
of the Company's portfolio. 
 
Tide, the SME business banking platform, has been awarded a GBP25 million grant 
from the RBS Alternative Remedies Package to strengthen the challenge to high 
street banks, in partnership with ClearBank. This is in addition to Tide's 
previous GBP60 million Pool A Fund grant in February 2019. At year end 31 March 
2020, Tide represented approximately 11.5% of the Company's portfolio. 
 
The Company's near term qualified pipeline currently contains approximately GBP 
120 million of opportunities across all target sectors and geographies, which 
continues to grow. There remains clear demand for patient capital with a sector 
focus and expertise in the fintech market, and the Company expects to issue 
further ordinary shares in due course in order to continue the growth in its 
portfolio. 
 
Tim Levene CEO of Augmentum Fintech, said: " 
 
Since our IPO in 2018 we have built a balanced portfolio of diversified and 
differentiated private fintech companies, who have benefited from the pace of 
digital disruption which has further accelerated in recent months under the 
shadow of Covid. Our ambition remains to grow the fund to enable us to continue 
investing across our portfolio companies, and to exploit our access to some of 
Europe's exceptional fintech opportunities in both the UK and the wider 
European market". 
 
                                     -END- 
 
For further information, please contact: 
 
Augmentum Fintech 
Tim Levene, Portfolio Manager         [phone] 
Nigel Szembel, Investor Relations     [phone] / [e-mail] 
 
Peel Hunt 
Liz Yong / Luke Simpson               [phone] 
 
N+1 Singer 
Harry Gooden / James Moat             [phone] 
 
 
About Augmentum Fintech plc: 
 
Augmentum invests in fast growing fintech businesses that are disrupting the 
financial services sector. Augmentum is the UK's only publicly listed 
investment company focusing on the fintech sector in the UK and wider Europe, 
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 and giving public markets investors access to a largely 
privately held investment sector during its main period of growth 
 
 
 
END 
 

(END) Dow Jones Newswires

October 06, 2020 02:00 ET (06:00 GMT)