10 September
2018
Augmentum Fintech
plc
Augmentum Fintech
plc announces £2.5 million investment in Unmortgage
Augmentum Fintech plc (LSE: AUGM) (“Augmentum” or the
“Company”), one of Europe’s leading fintech venture capital
investors, announces an investment of £2.5 million in UK-based
residential rent-to-own specialist Unmortgage, as part of a £10
million fundraising.
Augmentum is participating in this fund raising alongside
existing investor Exponential Ventures, and other investors.
Unmortgage (www.unmortgage.com) will offer a unique part-own
part-rent model of home ownership, requiring as little as 5%
deposit with customers paying a market rent on the portion of the
home that Unmortgage owns, with the ability to increase the equity
in the property as their financial circumstances allow.
The new funds are being raised by Unmortgage to scale the
business and take the team from 12 to 40 people before the end of
the 2018, prior to launch in 2019.
Tim Levene, CEO of Augmentum
Fintech, said: “One of the things we look for in a potential
investment is a business that is genuinely pathfinding in a sector
which is ripe for innovation. In too many cases home-ownership
remains out of reach for people, and the Unmortgage model addresses
in an innovative way how people can access the homes they both need
and want. The business is also attracting fintech talent who want
to participate in a business that has at its heart a social
purpose”.
Ends
For further information, please contact:
Augmentum
Tim Levene
Richard Matthews
Nigel Szembel |
info@augmentum.vc
+44 20 3961 5420
+44 (0)7802 362088 |
|
|
Fidante
Capital
Tom Skinner
Nick Donovan |
+44 (0)20 7832 0900 |
|
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Newgate
Communications
Bob Huxford
Robin Tozer |
augmentum@newgatecomms.com
+44 (0)20 3757 6867 |
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This announcement contains inside information for the purposes
of Article 7 of the Regulation (EU) No 596/2014 on Market
Abuse. Upon the publication of this announcement, this
information is considered to be in the public domain.
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.