Augmentum Fintech to exit investment in FullCircl

31st Oct 2024 10:53

(Sharecast News) - Augmentum Fintech announced on Thursday that nCino, a Nasdaq-listed digital banking platform, had agreed to acquire FullCircl, a regulatory technology (RegTech) platform in which it holds an interest.

The London-listed firm said the transaction valued its investment in FullCircl at £6m, marking a 75% uplift from its last published valuation of £3.4m as of 31 March.

Augmentum initially invested £2m in FullCircl's predecessor, DueDil, in August 2018, with further investments totaling £1.6m through 2021, culminating in the merger that created FullCircl.

The transaction marked Augmentum's seventh exit, each of which had been completed at or above the most recent valuation.

At 1030 GMT, shares in Augmentum Fintech were up 0.94% at 97.91p.

Reporting by Josh White for Sharecast.com.