REG-Augmentum Fintech Plc: Volt closes Series B, Augmentum holding value increases

Augmentum FintechAnnouncement

21/06/2023 10:45

RNS header: Volt closes Series B, Augmentum holding value increases

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER REGULATION
(EU) NO 596/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 16 APRIL
2014 ON MARKET ABUSE, AS AMENDED FROM TIME TO TIME, WHICH IS PART OF UK LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.

21 June 2023

Augmentum Fintech plc

Volt completes Series B with $60 million raise, increase in value of
Augmentum's holding

Augmentum Fintech plc (LSE: AUGM) (the "Company" or "Augmentum"), Europe's
leading publicly listed fintech fund, announces that it has made a further
£5.4 million investment into Volt, the real-time payments infrastructure
company, as part of Volt's $60 million Series B funding round led by new
investor IVP, the Silicon Valley-based technology venture capital fund. New
investor, CommerzVentures, is also participating in the round alongside
existing investors EQT and Fuel Ventures.

The new round implies a value of the Company's existing stake of £ 17.8 
million, which represents an uplift of £ 11.4  million on the unaudited
carrying value of £6.4 million as at 30 September 2022. As this new round has
closed after Augmentum's year end of 31 March 2023, the new valuation will not
be fully reflected in the updated NAV disclosed in the Company's Annual Report
when it is released on 4 July. Augmentum first invested in Volt in December
2020 with an investment of £0.5 million and has invested a further £4.0
million since then, excluding this latest investment.

Recent milestones for Volt include a new global partnership for real-time
payments with Worldpay from FIS, the world's largest merchant acquirer, and
partnering with Shopify, the global ecommerce platform, to become their first
open banking provider.

Volt intends to use the additional capital to fund expansion into new
international markets such as APAC and the Americas, and support product
development in existing markets across Europe, the UK and Brazil.

Perry Blacher, Partner at Augmentum Fintech, said: "We are excited to continue
to back the Volt team. The new capital and the addition of leading investors
IVP and CommerzVentures serve as further reinforcement for the company's
accelerating growth trajectory, as they continue to deliver their world-class
service to global merchants."

This announcement does not constitute or describe an updated NAV of the
Company.*

Enquiries:

 Augmentum FintechTim Levene, Portfolio ManagerGeorgie Hazell Kivell, Marketing and IR  +44 (0)20 3961 5420georgie@augmentum.vc  
 Quill PRNick Croysdill, Sarah Gibbons-Cook(Press and Media)                            +44 (0)20 7466 5050press@augmentum.vc    
 Peel Hunt LLPLiz Yong, Luke Simpson, Huw Jeremy(Investment Banking)                    +44 (0)20 7418 8900                      
 Singer Capital MarketsHarry Gooden, Robert Peel, Alaina Wong(Investment Banking)       +44 (0)20 7496 3000                      
 Frostrow Capital LLPPaul Griggs, Company Secretary                                     +44 (0)20 3709 8733                      

*The Company's NAV

This announcement does not constitute or describe an updated NAV of the
Company. The Company's NAV and NAV per ordinary share as at 31 March 2023,
both prior to and post performance fee, will be calculated in accordance with
the Company's valuation policy and are expected to be announced with the
Company's full year results on 4 July 2023. Shareholders should note that the
calculation of the NAV per ordinary share as at 31 March 2023 will take
account of the valuations of all of the Company's investments as at 31 March
2023 and any applicable costs and charges[, and that the NAV as at 31 March
2023 is not expected to fully reflect the increased valuation of Volt due to
Volt's latest fundraise closing after Augmentum's year end].

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.

About Volt

Founded in 2019, Volt is building the infrastructure for global instant
payments. Today, its open payments gateway allows merchants and PSPs to
process transactions securely between accounts held at more than 5,000 banks
in the UK, the EU and Brazil. Volt's unique aggregation model provides
unrivalled open payments reach and maximises the speed, security and
resilience of transactions.



Copyright (c) 2023 PR Newswire Association,LLC. All Rights Reserved