UK-LISTED fund Augmentum Fintech has spread a £7m investment across three firms in the sector.
The investment trust has made a £3m investment in small- and medium-sized enterprise (SME) challenger bank Tide, alongside £2m in supplier payment firm Previse and another £2m for company information platform DueDil.
“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,” said Tim Levene, chief executive of Augmentum Fintech.
“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.”
Augmentum Fintech was launched by Augmentum Capital, a venture capital (VC) firm backed by Lord Rothschild’s RIT Capital Partners, in March.
The VC firm already had a 7.4 per cent holding in peer-to-peer giant Zopa worth £18.5m that has been transferred into the investment company portfolio.
The Augmentum Fintech fund listed on the London Stock Exchange earlier this year after raising £94m through a combined initial public offering and Seedrs fundraising.
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