Portfolio Update: Monese and Habito

21 September 2022

Augmentum Fintech plc

Portfolio Update: Monese and Habito

Augmentum Fintech plc (LSE: AUGM) (the “Company” or “Augmentum”), the UK’s only publicly listed investment company focussing on the fintech sector, notes developments at two of its portfolio companies.

Monese

UK-based Monese (www.monese.com), is a leading pan-European fintech that provides banking services to consumers across 31 countries and a cloud-based banking Platform-as-a-Service (PaaS) to third party business. HSBC Ventures has invested US$35 million in Monese. As part of a broader strategic partnership that will focus on Monese’s PaaS business. This investment follows the announcement in September 2021 by Monese of the launch of its PaaS business and its strategic partnership with Investec, following Investec’s investment in 2018.

Habito

UK-based Habito (www.habito.com), the award-winning digital mortgage broker and innovative home-buying service, has raised approximately £5 million from existing investors, including Augmentum, in its latest funding round. This latest funding will allow Habito to complete its move to focus on core services: its award-winning mortgage brokerage and Habito Plus, the innovative home-buying service that combines surveying, conveyancing and home-financing under one roof.

Tim Levene, CEO of Augmentum Fintech, said: “We are delighted that Monese has completed this significant investment from HSBC and signed a landmark commercial partnership with them.

“This investment in Monese once again demonstrates very clearly the potential for fintechs to develop mutually beneficial relationships with established incumbents in financial services.

“Monese is a leader in the provision of Platform-as-a-Service banking services, and we look forward to continuing our support of the company as they grow their business across Europe.

“Elsewhere in our portfolio, Habito remains well positioned as the digital leader in its sector and continues to grow its market share in a space that is still dominated by traditional providers.

“The investment pipeline remains strong, but we continue to remain disciplined on valuation which we are starting to see return to historic multiples, neither the inflated valuations seen externally in the fintech sector last year nor the artificially low ones this summer.”

Enquiries:

Augmentum Fintech Tim Levene, Portfolio Manager Nigel Szembel, Investor Relations	[phone] [phone] [e-mail]
Peel Hunt LLP Liz Yong, Luke Simpson, Huw Jeremy (Investment Banking)	[phone]
Singer Capital Markets Harry Gooden, Robert Peel, Alaina Wong (Investment Banking)	[phone]
Frostrow Capital LLP Paul Griggs, Company Secretary	[phone]

About Augmentum Fintech

Augmentum invests in fast growing fintech businesses that are disrupting the financial services sector. Augmentum is the UK’s only publicly listed investment company focusing on the fintech sector in the UK and wider Europe, 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 and giving public markets investors access to a largely privately held investment sector during its main period of growth.

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