New Investment: London based insurtech Artificial

6 February 2024

Augmentum Fintech plc
 

£4 million investment into Artificial Labs

Augmentum Fintech plc (LSE: AUGM) (the “Company”), Europe’s leading publicly listed fintech fund, announces that it has made a £4 million investment into London based insurtech Artificial Labs (“Artificial”).

Augmentum has led Artificial’s £8 million Series A+ round, which also includes participation from existing investors MS&AD Ventures and FOMCAP IV, alongside other investors.

Artificial (https://artificial.io) is an established underwriting technology provider for the London Insurance Market. The London-based insurtech partners with global insurers and brokers to facilitate algorithmic placement of commercial and specialty risk, backed by their powerful contract builder and underwriting platform.

This Series A+ round will allow Artificial to accelerate their growth, to continue to buildout its product range and further consolidate its position as a leader in algorithmic underwriting software as the insurance market migrates towards digital solutions.

Tim Levene, CEO of Augmentum Fintech, said: “We are delighted to lead Artificial’s latest round. The insurance market remains ripe for further digitisation and the introduction of algorithmic underwriting will improve efficiency for all participants. Artificial are building an exceptional team and stand out as one of the key disrupters in this space”. 

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About Augmentum Fintech

Augmentum invests in fast growing fintech businesses that are disrupting the financial services sector. Augmentum is the UK’s only publicly listed investment company focusing on the fintech sector in the UK and wider Europe, having launched on the main market of the London Stock Exchange in 2018, giving businesses access to patient capital and support, unrestricted by conventional fund timelines and giving public markets investors access to a largely privately held investment sector during its main period of growth.