Augmentum Fintech plc invests £7.5 million in ...

24 January 2019

Augmentum Fintech plc

Augmentum Fintech plc announces £7.5 million investment in iwoca

Augmentum Fintech plc (LSE: AUGM) (“Augmentum” or the “Company”), one of Europe’s leading fintech venture capital investors, announces an investment of £7.5 million in iwoca, the challenger SME lender.

Founded in 2011, iwoca (www.iwoca.co.uk) uses award-winning technology to break down the barriers obstructing access to finance for Europe’s 20 million small businesses. The fintech firm has funded more than 25,000 small and medium enterprises across the UK, Germany and Poland. This new equity will allow iwoca to fund balance sheet expansion and accelerate growth.

Tim Levene of Augmentum Fintech, said: “Whilst there are many companies attempting to address SME lending, few have a credit product as advanced as iwoca. We believe their industry-leading analytics and technology set them apart from other lenders and give them a competitive advantage others will find hard to replicate. We are confident that iwoca will emerge as one of the winners in the SME space”.

Ends
For further information, please contact:

Augmentum                       [e-mail]

Nigel Szembel                   [phone]

Fidante Capital                  [phone]

Tom Skinner

Nick Donovan

Peel Hunt                           [phone]

Luke Simpson

Liz Yong

Notes

About Augmentum Fintech plc:

Augmentum Fintech plc is one of Europe’s leading venture capital investors focusing exclusively on the fintech sector. Augmentum invests in fast growing fintech businesses that are disrupting the banking, insurance, asset management and wider financial services sectors. Augmentum is the only listed fintech-focused venture capital firm in the UK, 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.