viewProactive Group

Augmentum Fintech to raise £100mln to cash in on Europe's financial disruption

The financial services sector is ‘ripe for disruption and disintermediation'

Big changes underway in financial services

A new trust aimed at Europe’s fast-growing fintech sector is looking to raise £100mln ahead of a float in London.

Augmentum Fintech PLC said the financial services sector is ‘ripe for disruption and disintermediation’ but, unlike other sectors such as retail and travel, this has yet to happen.

Europe is at the centre of this disruption due to a confluence of factors including regulation and sector "DNA", it added.

According to Neil England, the Trust’s chairman: “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.”

Investment trust RIT Capital Partners will invest £10mln and management a further £2.7mln.

Current investments

Augmentum currently has five investments in its portfolio: peer-to-peer lending platform Zopa; precious metals trading platform BullionVault; share trading platform interactive investor; crowdfunding platform Seedrs and family office platform SRL Global.

Shares in the float will be priced at £1 and listed on the premium section of the LSE with a maximum of £125mln to be raised in the float.

Currently, the portfolio is worth £33mln. Augmentum expects to invest any additional money raised within twelve months

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Anglo Pacific Group makes a transformational move by acquiring stream on the...

Anglo Pacific Group (TSE: APY- LSE: APF) CEO Julian Treger joined Steve Darling from Proactive with news the company has just announced the biggest deal the company has ever done, acquiring a stream on Vale’s Voisey’s Bay Nickel and Cobalt project in Newfoundland and Labrador for 205...

22 hours, 6 minutes ago

2 min read