Augmentum Fintech PLC - investment company focussing on the fintech sector - Invests USD5.0 million into Tel Aviv, Israel-based capital markets trading platform Wematch. The platform aims to help traders find liquidity, trade, and better manage the lifecycle of their asset portfolios. The investment forms part of Wematch's USD19.4 million Series B funding round, led by Deutsche Boerse AG, with participation from Illuminate Financial Management LLP. Existing investor JP Morgan Chase & Co also participated in the round.
"This is Augmentum's first investment into the capital markets space, where we have been convinced for some time that innovative fintech solutions could improve market efficiency," comments Chief Executive Tim Levene.
"Wematch is already active in multiple asset classes and is leveraging technology to change how market participants interact, helping reduce operational risk while controlling costs thanks to their differentiated subscription model. As such, Wematch makes a compelling addition to the portfolio."
Current stock price: 149.23 pence
Year-to-date change: up 11%
By Will Paige; willpaige@alliancenews.com
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Augmentum Fint. (AUGM)