REG-Augmentum Fintech Plc: £7.5 million investment into Receipt Bank

Augmentum FintechAnnouncement

03/01/2020 07:05

3 January 2020

Augmentum Fintech plc

£7.5 million investment into Receipt Bank

Augmentum Fintech plc (LSE: AUGM) (the “Company” or “Augmentum”), the
UK’s only publicly listed investment company focusing on the fintech sector,
announces that the Company has made a £7.5 million investment into Receipt
Bank, the UK-headquartered digital bookkeeping platform.

Augmentum’s investment is part of Receipt Bank’s £55 million Series C
fundraising, led by Insight Partners, with participation from exisiting
investors Kennet Partners and Canadian Imperial Bank of Commerce (CIBC).

Receipt Bank (receipt-bank.com), which was named one of the 50 fastest growing
technology companies by the Sunday Times 2019 Tech Track, currently operates
in six markets - the UK, US, Canada, Australia, South Africa and France. The
new funding will support further expansion to new markets in Asia and within
Europe.

Tim Levene, of Augmentum Fintech, said: “Digital bookkeeping allows
businesses to save both time and expense, and Receipt Bank’s technology make
the company a clear leader in this sector.  Receipt Bank’s continued growth
and product evolution demonstrates that they provide an increasingly essential
service for accountants as bookkeeping digitises, which is a trend that they
will leverage as they continue their global expansion, and which is supported
by this fundraising round.”

Contacts:

 Augmentum Fintech Tim Levene, Portfolio Manager Nigel Szembel, Investor Relations  +44 (0)20 3961 5420 +44 (0)7802 362 088 / nigel@augmentum.vc  
 Peel Hunt Liz Yong/Luke Simpson                                                    +44 (0)20 7418 8900                                           
 Frostrow  Victoria Hale , Company Secretary                                        +44 (0)20 3170 8732 info@frostrow.com                         

 
About Augmentum
Augmentum invests in fast growing fintech businesses that are disrupting the
banking, insurance, asset management and wider financial services sectors. 
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.



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