LONDON: nCino, the NASDAQ listed US digital banking platform, has agreed to acquire FullCircl, the RegTech platform and a portfolio investment of the Augmentum Fintech plc (LSE: AUGM).
The transaction implies a valuation of the Company’s investment in FullCircl of £6.0 million subject to final adjustments, which represents a 75% increase on the last published valuation of £3.4 million as at 31 March 2024.
The Company first acquired its interest in FullCircl in August 2018 with an initial £2.0 million investment in DueDil, with follow-on investments totalling £1.6 million made in June 2019, August 2020, and most recently in July 2021 as part of the formation of FullCircl through the merger of DueDil and Artesian Solutions.
The realisation is Augmentum’s seventh exit, all of which have been at or above the last published valuation.
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