Augmentum Fintech Plc - New Investment: London based insurtech Artificial
February 06 2024 - 2:00AM
UK Regulatory
Augmentum Fintech Plc - New Investment:
London based insurtech Artificial
PR Newswire
LONDON, United Kingdom, February 06
6 February 2024
Augmentum Fintech plc
£4
million investment into Artificial Labs
Augmentum
Fintech plc (LSE: AUGM) (the “Company”), Europe’s leading publicly
listed fintech fund, announces that it has made a £4 million
investment into London based
insurtech Artificial Labs (“Artificial”).
Augmentum
has led Artificial’s £8 million Series A+ round, which also
includes participation from existing investors MS&AD Ventures
and FOMCAP IV, alongside other investors.
Artificial
(https://artificial.io)
is an
established underwriting technology provider for the London
Insurance Market. The London-based
insurtech partners with global insurers and brokers to facilitate
algorithmic placement of commercial and specialty risk, backed by
their powerful contract builder and underwriting
platform.
This
Series A+ round will allow Artificial to accelerate their growth,
to continue to buildout its product range and further consolidate
its position as a leader in algorithmic underwriting software as
the insurance market migrates towards digital solutions.
Tim Levene, CEO of Augmentum
Fintech, said: “We
are delighted to lead Artificial’s latest round. The insurance
market remains ripe for further digitisation and the introduction
of algorithmic underwriting will improve efficiency for all
participants. Artificial are building an exceptional team and stand
out as one of the key disrupters in this space”.
Enquiries
Augmentum
Fintech
Tim Levene
(Portfolio Manager)
Martha
Horrox (Marketing)
|
+44 (0)20
3961 5420
martha@augmentum.vc
|
Quill
PR
Nick
Croysdill, Sarah Gibbons-Cook
(Press and
Media)
|
+44 (0)20
7466 5050
press@augmentum.vc
|
Peel
Hunt LLP
Liz Yong,
Luke Simpson, Huw Jeremy
(Investment
Banking)
|
+44 (0)20
7418 8900
|
Singer
Capital Markets
Harry
Gooden, Robert Peel, Alaina Wong
(Investment
Banking)
|
+44 (0)20
7496 3000
|
Frostrow
Capital LLP
Paul
Griggs (Company Secretary)
|
+44 (0)20
3709 8733
|
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.
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