Jacob Rothschild-backed fintech firm plans £100 million City float early next month

A Jacob Rothschild-backed investment vehicle searching for fintech opportunities will come to market early next month.

Named Augmentum Fintech, the company plans to raise at least £100 million through an initial public offering in London.

Investment trust RIT Capital Partners, which is chaired by Rothschild, will invest £10 million and the management team £2.7 million.

Neil England, chairman of Augmentum Fintech, said: “The substantial demand for post-seed venture-capital funding in the European fintech market is being underserved and the company will be well positioned to capitalise on the best opportunities available.” Augmentum already has a portfolio of five fintech investments with a total value of £33.3 million.

These include Zopa, Seedrs, Interactive Investor, BullionVault and SRL Global.