Augmentum Fintech, the UK’s only publicly listed investment company focusing on the fintech sector, and Tikehau Capital, the global alternative asset manager, have announced an enhanced partnership to promote growth in European fintech.
To cement the partnership, Tikehau Capital has raised its stake in Augmentum as an anchor investor in the company’s recent £55M share issuance. This means that Tikehau Capital now owns 3.9% of Augmentum.
The pandemic has meant that fintech companies with enhanced digital capabilities have seen increasing demand from both consumers and businesses. Already a majority shareholder in two French fintechs, Crédit.fr and Homunity, and a significant shareholder in the Australian neo-bank Judo Bank, Tikehau Capital wants to press forward in the innovative fintech sector.
What’s next for the partnership?
The relationship will see Augmentum move to establish a presence and expand in Europe. From Paris, Augmentum will leverage Tikehau Capital’s global footprint to support its pan-European investment drive.
Antoine Flamarion and Mathieu Chabran, co-founders of Tikehau Capital said, “Beyond our financial investment, this partnership will also see Augmentum benefit from Tikehau Capital’s pan-European network and footprint, as well as our expertise in the European fintech sector where we continue to see positive market dynamics.”
Recent investments by Augmentum include Epsor, an employee savings and retirement solution based in France; Tesseract, a digital asset innovator focusing on institutional brokerage and asset management based in Finland; and Grover, a start-up offering a rental service for consumer electronics in Germany
CEO of Augmentum Fintech, Tim Levene, said, “France, like the UK, has seen a step change in digital adoption because of Covid-19, and Paris, like London, is becoming a major focus for fintech investment. Tikehau Capital, headquartered in Paris, is one of Europe’s most entrepreneurial and innovative alternative asset managers, and we look forward to working more closely with them over the coming years.”