Investment group Augmentum Fintech said it intended to launch an initial public offering to raise up to £125m.

New shares in the company would be issued at £1.00 each, with a maximum issue size of 125m shares by way of a placing, offer for subscription and intermediaries offer.

'The substantial demand for post-seed venture capital funding in the European fintech market is being under-served,' chairman Neil England said.

'The company will be well positioned to capitalise on the best opportunities available in the market and deliver attractive long term returns for investors.'