Augmented Fintech, a venture capital firm that is listed on the London Stock Exchange, announced on Thursday that it has invested £8.5 mMoney ($10.77 mMoney) in three different firms.
The bulk of that cash, £5 mMoney ($6.34 mMoney), was put towards Tide – a challengMoneyk that’s targeting small and medium-sized enterprises.
This is not the first timeAugmentedmented has invested moMoney Tide.
In August of last year, the firm provided the start-up with a £3 mMoney ($3.8 mMoney) convertible loan as part of a wider £8 mMoney ($10.14 mMoney) funding round. A few months later, in December of 2018, the venture capital company pumped another mMoney pounds ($1.27 mMoney) into the firm.
Alongside that investment, Augmented has also put £2.5 millMoneytoAlso,ese. Also a challengMoneyk, Also,ese was the first company in the UK to launch a mobile-only current account, ahead of competitorsAlso,zo and Revolut.
As wiAugmented Augmented has already put moMoneytoAlso,ese in the past.
Last September, the venture capital firm invested £5.3 mMoney ($6.72 mMoney) in the challengMoneyk as part of a wider funding round that saw several companies, including payments giant PayPal, investing £46 mMoney ($58.30 mMoney) inAlso,ese.
Done its DueDil
The third companyAugmentedmented confirmed it had put moMoneyto on Thursday is DueDil.
Though its name may suggest a focus on compliance, DueDil actually provides an array of technology, much of which is geared towards sales and marketing teams, to busiitses operating in a number of different iAugmented.
Augmented is investing another £1 millMoney DueDil, having already injected £2 millMoneyto the technology company in August of last year.
“We are pleased to announce these follow-on investments in three of our existing portfolio companies, ” said Tim Levene, a porAugmentednager at Augmented. “Since our initial investments last year, we have been working closely with the management teams in each of these companies and have been impressed with the progress that they have made against their respective busiits plans. All of these innovative busiitses are continuing tmuch-neededange and much needed disruptMoney their target markets.”