Anthemis backs Tide in £8m funding round

Author

UK Business Angels Association

06 September 2018

Venture capital firm Augmentum Fintech plc has announced a £7m investment in three London-based financial technology businesses.

The backing included £3m for SME challenger bank Tide, part of an £8m funding round that drew participation from investors Creandum, Anthemis, Passion Capital and Local Globe.

Tide is preparing to expand and introduce new features on its platform for small businesses.

Augmentum also invested £2m in Previse, a global instant supplier payment company. The firm led a £5.3m Series A financing round alongside Bessemer Venture Partners and Hambro Perks.

Previse offers tools and incentives for multinational businesses to pay suppliers as soon as they receive an invoice, potentially helping SMEs avoid cashflow issues associated with delayed payments.

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