The Jacob Rothschild-backed fintech firm will begin trading on the stock exchange early next month in hope of raising £100m.
Augmentum Fintech plc, which aims to invest in fast growing FinTech companies in the UK and Europe, is looking to raise £100m from floating on the London Stock Exchange.
This will see the company offer up 100 million shares at a price of £1 per share and will also include a £2.7m investment from the management team as well as £10m from RIT Capital Partners plc, the investment trust chaired by Jacob Rothschild.
The financial services sector is being revolutionised by technology. Fintech businesses are disrupting existing markets and creating new verticals and Augmentum is hoping to cash in on the businesses at the heart of the revolution.
The company will invest in early stage (but not seed stage, where the risk profile of investments is considered to be higher) and later stage fintech businesses which have high growth potential in scalable sectors. These opportunities will predominantly be focused on disruptive technologies in the banking, insurance and asset management sectors, as well as other cross-industry propositions.
Neil England, chairman of Augmentum Fintech plc, said: “Augmentum provides investors with an established and successful management team with access to an attractive seed portfolio which still has significant upside potential and an identified pipeline of investments from which the company will actively drive value creation.
The substantial demand for post-seed venture capital funding in the European fintech market is being underserved and the company will be well positioned to capitalise on the best opportunities available in the market and deliver attractive long term returns for investors.”
Tim Levene, co-founder and principal of Augmentum Capital, added: “Europe offers a large addressable and attractive fintech investment opportunity where we are blessed with a deep pool of talent and the company is well positioned to capitalise on some of the most compelling opportunities available in the market.
“The management team is well-networked and involved in some of Europe’s most innovative fintech businesses. Our significant entrepreneurial, operational and investment experience as well as our established track record offers investors targeted exposure to a sector that is difficult to gain access to. We expect to deliver attractive risk adjusted returns through a highly curated portfolio of high calibre fintech companies.”