21 June 2021
Augmentum Fintech
plc
$10 million investment into Finnish Fintech
Tesseract
Augmentum Fintech plc (LSE: AUGM) (the “Company” or
“Augmentum”), the UK’s only publicly listed investment company
focussing on the fintech sector, announces that it has made a
$10 million (c. £7.3 million)
investment into Helsinki based
Tesseract Group Oy (“Tesseract”), marking Augmentum’s first
investment into Finland.
Augmentum is leading Tesseract’s $25
million Series A round alongside other investors including
Sapphire Ventures, BlackFin Capital Partners, DN Capital, Coinbase
Ventures and leading industry players Wintermute and Woorton.
Tesseract (www.tesseractinvestment.com) is a forerunner in the
dynamic digital asset sector, providing digital lending solutions
to market makers and other institutional market participants via
regulated custody and exchange platforms. Tesseract was founded in
2017, is regulated by the Finnish Financial Supervisory Authority
(“FIN-FSA”), and was one of the first companies in the EU to obtain
a 5AMLD (Fifth Anti-Money Laundering Directive) virtual asset
service provider (“VASP”) licence. It is the only VASP with an
express authorisation from the FIN-FSA to deploy client assets into
decentralized finance or “DeFi”.
Taking no principal position, Tesseract provides an enabling
crypto infrastructure to connect digital asset lenders with digital
asset borrowers. This brings enhanced capital efficiency with
commensurate cost reduction to trading, in a space that is
currently significantly under-leveraged relative to traditional
capital markets.
Martyn Holman, Partner at
Augmentum Fintech, said: “We are witnessing wholesale changes
in digital assets infrastructure as it evolves to the demands of
increasing institutional activity. Following the separation of
custody and trading in the first waves of evolution, Tesseract is
addressing the next fundamental need in a space that has
limited leverage capabilities. Tesseract’s management team have
built a strong and profitable foundation with a great product and a
clear vision”.
END
Augmentum Fintech
Tim Levene, Portfolio Manager
Nigel Szembel, Investor Relations |
+44 (0)20 3961 5420
+44 (0)7802 362088
nigel@augmentum.vc |
Peel
Hunt LLP
Liz Yong, Luke Simpson, Huw Jeremy, Tom Pocock
(Investment Banking) |
+44 (0)20 7418
8900 |
Nplus1
Singer Advisory LLP
Harry Gooden, Robert Peel, James Moat
(Investment Banking) |
+44 (0)20 7496
3000 |
Frostrow Capital LLP
Paul Griggs, Company Secretary |
+44 (0)20
3709 8733 |
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.
Neither the content of any website referred to in this
announcement nor the content of any website accessible from
hyperlinks is incorporated into, or forms part of, this
announcement.