Acquisition of Augmentum Fintech by Verdane formally completes
The acquisition of Augmentum Fintech by Verdane – the European private equity firm – has formally completed. After eight years as a listed company, this milestone marks a new chapter for Augmentum under private ownership.
Over those eight years, Augmentum backed many great fintech companies including interactive investor, Tide, Zopa Bank, iwoca, Onfido, Cushon, BullionVault, and Artificial Labs. These category-leading businesses employ thousands of people, and have helped reshape financial services for consumers and businesses across Europe.
The Augmentum management team is looking forward to working closely with Verdane to support the future success and growth of the portfolio, the wider fintech ecosystem, and the next generation of fintech founders in the UK and Europe.
Moez Gharbi, Partner at Verdane, said: “Our partnership with the management team and portfolio companies of Augmentum Fintech will fuel further growth in the European fintech ecosystem. The transaction builds upon Verdane’s significant history of delivering value from portfolio deals. This pioneering transaction to buy a listed investment trust in the UK was made possible due to Verdane’s experience in sourcing complex transactions, our local presence across Northern Europe and the flexible mandate of our Freya funds.”
Tim Levene, CEO of Augmentum Fintech, said: “Over the past decade, Augmentum Fintech has established itself as one of Europe’s leading fintech investors, backing 34 companies, including several that are now household names. In Verdane, we have found a partner whose conviction in European technology and scale of capital will allow us to continue supporting our existing portfolio while backing the next generation of fintech founders. I’m looking forward to what we can build together.”
Patrick Mitschka, Director at Verdane, said: “We’re grateful to have established a partnership with the Augmentum Fintech team. This will enable us to collaborate closely to support the firm’s existing portfolio and to benefit from the team’s expertise for future investments in the financial technology sector.”