Augmentum Fintech pours £7m into three new investees

The London-listed firm said it was putting £3m in Tide, which it described as an “emerging leader” in small-to-medium enterprise challenger banking, as part of an £8m funding round alongside existing investors.

It also made a £2m investment in Previse - an “instant” supplier payment company - as lead investor with Bessemer Venture Partners, as part of a £5.3m series A funding round, and a £2m investment in DueDil, a private company information platform, as part of a funding round of up to £8m.

“Since our IPO we have built an exciting pipeline of fintech investment opportunities and are delighted to announce the completion of these three investments, each of which fit perfectly with our approach to investment,” said Augmentum chief executive officer Tim Levene.

“These companies deliver propositions that are disrupting their markets, challenging incumbents and bringing huge efficiencies to the end customer.”

Levene said that at Augmentum, they looked for opportunities where the company could add value to an investee beyond the financial contribution.

“In particular, we seek out talented, driven management teams and help them to achieve their potential.”