Augmentum Fint. Regulatory News (AUGM)

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.

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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.