IPO Fetches £94 Million For Augmentum Fintech: A new Fintech investment company, Augmentum has secured a whopping £94 million at the Initial Public Offering just before the trading of shares on London Stock Exchange which is set for this week. Augmentum Fintech needs more money for a new firm that wants to invest in financial technology services from Europe and the United Kingdom.
The new company wants to provide investments in five high-growth Fintech firms: Zopa, BullionVault, Seedrs, SRL Global and Interactive Investor. These are companies which are implementing disruptive technology in the insurance sector, banking industry, and asset management.
Crowdfunding platform Seedrs helped to garner over £500,000 for the IPO during a peculiar meeting involving private and public markets. The management team plus the household associates offered £2 million which is 3.6% of the share capital.
The management promises investors the access to the dynamic Fintech startups which are geared towards disruptive technology in asset management, insurance, and banking.
Fintech market of Europe
There is a greater chance for the new investment group to capitalize on the low values of young ventures in Europe in comparison to the United States during a period of high demand for post-seed venture funding in the Fintech market of Europe. Hopefully, the company will satisfy the investment demand in a seemingly impenetrable sector.
According to Neil England, the chairman of Augmentum, integrating a developed, prolific, and experienced administration team with a promising seed portfolio into a determined and fast-growing line of investments from Fintech creates the most assured investment. He further remarked that the response that Augmentum Fintech received from a wide array of investors during the IPO was commendable.