Augmentum Fintech’s Post

Name: Augmentum Fintech on LinkedIn: This morning we announced the Augmentum Fintech plc Interim Results for…
Uploaded: 2024-11-26T08:43:45.975Z
Duration: 3 min 37 s
Channel: Augmentum Fintech

Augmentum Fintech

6,455 followers

3w Edited

This morning we announced the Augmentum Fintech plc Interim Results for the six months ended 30 September 2024. Highlights included: - The top 10 holdings represent 77.5% of NAV, have an aggregate revenue of £1.25 billion and year-on-year revenue growth of 52%. - Seven exits since inception, realising an IRR of 38.4%. Average premium to the last reported valuation of 33%. - The asset value of the top four positions (Tide, Zopa Bank, Volt and Grover) plus cash exceeds the market capitalisation. Listen to Tim Levene talk through the highlights in the video below, and read the full report here: https://lnkd.in/eHbZbxw2 Read the RNS here: https://lnkd.in/eEZ2WyDB

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Today we announced the interim results for the six month period to the 30th of September 2024. During our annual results in June, I spoke about our growing optimism regarding the impact of rate cuts on markets. Central banks have since signaled caution, leaving uncertainty around inflation. Despite a more subdued second-half than we anticipated, there are clear reasons for optimism. Greater clarity following elections and budgets, particularly in the US, has bolstered investor confidence with improving macroeconomic conditions. We expect further rate cuts in 2025, paving the way for a stronger return in market demand. Listed fintechs have navigated valuation, recovery and stabilization in 2024, although these are yet to be fully reflected across the sector, including in our own share price. Meanwhile, private markets have seen a resurgence in activity, supported by robust ecosystems and healthy funding across Europe, laying the groundwork for the next wave of fintech innovation. In the last 12 months, growth across our top ten positions has been 52% and 40% of this group have reached profitability with an aggregated revenue of over ��1 billion. The asset value of the top four positions plus cash exceeded our market capitalization, which ignores the value of the other 22 companies in our portfolio. Tide customer base has now exceeded 1,000,000, driven by strong growth in India alongside continued momentum in the UK, where their market share now stands at 11 percent. The company has also launched in Germany and has plans for further European expansion in 2025. Super has continued to drive profitable growth with over ��300 million in annualized run rate revenue. The company has lent over ��10 billion of recently surpassed ��5 billion in deposits. Alongside supporting the continued growth of the portfolio through further investment, we invested ��2.6 million into Loop Effects, the London headquartered FX trading platform. Post period and we announced a $4 million investment into Pemo, the UAE based expense management and business payment solution. Despite the challenging IPO and wider exit environment, in April we announced the sale of Onfido and post period end we have had a one further exit with Full Circle being acquired by US listed software business Encino. Our seven realizations since IPO now stand at ��99 million. On average, these exits have achieved a 33% premium to our last valuation and delivered an R of 38%. As our sector has developed, so too has our team and today we combine our established reputation as a leading fintech investor with an increasingly technology driven approach. We believe this is the best strategy to continue to deliver access to a strong and diversified portfolio of private fintech companies, which can deliver exceptional returns to investors over the longer term. With cash reserves of ��34.8 million and no debt, we are well positioned to capitalize on this compelling opportunity.

★ Madush Gupta ★

Incredible numbers given the market doldrums we live - only a high quality management can drive such consistently market outperforming returns

3 Reactions

Steve Brennen

Co-Founder and CEO Archie | Chair ADMA | #1 CMO50 (2019) ex Zip, Uber, PayPal, eBay, Virgin

Strong interim results well done Tim Levene and team Augmentum Fintech great to see the growth story continue

3 Reactions

Chris Skinner

Having seen your way of working this year Tim, these results are no surprise ... keep on rocking

Michael Dritz

Chairman

Want go Tim!

1 Reaction

Michal Freeman-Shor

Head of Primary Markets - Israel, London Stock Exchange Group Plc

Incredible Tim Levene !

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Conny Dorrestijn Prins
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Half year results this morning for Augmentum Fintech, listen to Tim Levene giving you the highlights. My personal one is: The asset value of the top four (of our 20+) positions (Tide, Zopa Bank, Volt and Grover) plus cash exceeds the market capitalisation. #fintech #vc #patientinvesting

Augmentum Fintech

6,455 followers
3w Edited

This morning we announced the Augmentum Fintech plc Interim Results for the six months ended 30 September 2024. Highlights included: - The top 10 holdings represent 77.5% of NAV, have an aggregate revenue of £1.25 billion and year-on-year revenue growth of 52%. - Seven exits since inception, realising an IRR of 38.4%. Average premium to the last reported valuation of 33%. - The asset value of the top four positions (Tide, Zopa Bank, Volt and Grover) plus cash exceeds the market capitalisation. Listen to Tim Levene talk through the highlights in the video below, and read the full report here: https://lnkd.in/eHbZbxw2 Read the RNS here: https://lnkd.in/eEZ2WyDB
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