REG-Augmentum Fintech Plc: Onfido enters exclusive discussions with potential acquirer

Augmentum FintechAnnouncement

07/02/2024 12:15

7 February 2024

 

Augmentum Fintech plc

Portfolio Update: Onfido enters exclusive discussions with potential acquirer

Augmentum Fintech plc (LSE: AUGM) (the "Company"), Europe's leading publicly
listed fintech fund, notes the announcement today that portfolio company
Onfido has entered exclusive discussions with potential acquirer, US based
Entrust, a global leader in trusted payments, identities and data security. If
this transaction goes ahead we expect the proceeds to be at or slightly above
the current holding value, and it will be Augmentum's sixth portfolio
investment exit.

Augmentum first invested in Onfido, the AI/ML-powered identity verification
business, in 2018 with £4 million and a further £3.7 million in 2019. At 30
September 2023 the fair value of the Onfido holding was £9.7 million
representing 3.6% of the portfolio.

Any agreement to this transaction remains subject to regulatory approval and
other steps required in accordance with applicable laws.

Enquiries

 Augmentum Fintech Tim Levene (Portfolio Manager) Martha Horrox (Marketing)            +44 (0)20 3961 5420 martha@augmentum.vc  
 Quill PR Nick Croysdill, Sarah Gibbons-Cook (Press and Media)                         +44 (0)20 7466 5050 press@augmentum.vc   
 Peel Hunt LLP Liz Yong, Luke Simpson, Huw Jeremy (Investment Banking)                 +44 (0)20 7418 8900                      
 Singer Capital Markets Harry Gooden, Robert Peel, James Fischer (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.



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