The backing marks the first time that Augmentum Fintech has supported a company in the global capital markets space.
Image source: Augmentum Fintech.
As a listed fintech fund, Augmentum Fintech keeps a keen eye on fintech trends and, with its latest investment, is jumping on one of the most popular at the moment.
Augmentum has invested $5m into capital markets trading platform Wematch as part of its $19.4m Series B funding round, which was led by Deutsche Börse and saw participation from Illuminate Financial and JP Morgan.
Wematch helps institutional investors automate and digitise the whole process from managing workflow to reporting across multiple assets and instruments.
“This is Augmentum’s first investment into the capital markets space, where we have been convinced for some time that innovative fintech solutions could improve market efficiency,” Tim Levene, CEO of Augmentum Fintech, said.
“Wematch is already active in multiple asset classes and is leveraging technology to change how market participants interact, helping reduce operational risk while controlling costs thanks to their differentiated subscription model.”
Headquartered in Tel Aviv and with offices in London and Paris, Wematch is used by 40 banks, 17 fund managers and more than 1,000 traders across Europe to streamline the trading process.
Just shy of a month ago, Augmentum also invested in Swedish fintech Anyfin—which helps consumers refinance existing loans and credit—in a £7.3m extension of its Series B.