Listed fintech fund Augmentum Fintech said that its belief in the “potential of the sector remains as strong as ever”, despite slashing its fintech investment in the second half of the year. The backer of fintechs including Zopa and Tide reported that it has invested ￡16.4m in fintech in the second half of its financial year ending March 31 2022, a marked slowdown compared to the ￡44.4m it invested in the first half of the period. Tim Levene, CEO of Augmentum Fintech, said economic uncertainty and the changing geopolitical situation in Europe had contributed to its slowdown in fintech investment. Levene also flagged up new investors in fintech who were willing to “pay any price to build exposure” as another reason for curbing investment. He added: “We are starting to see some of this money leave the sector which will continue to lead to a healthy correction in entry prices later this year and beyond.? “We must remain disciplined on price while continuing to deliver advantaged deal access for our shareholders." “Our belief in the potential of the sector remains as strong as ever, yet our investment bar must remain high.” Read the full AltFi article written by John Reynolds through the link in the comments below. ?? #fintech #fintechnews #investors #investments #vc #venturecapital #venturecapitalists #financialtechnology #financialservices
Link to full article: https://www.altfi.com/article/9484