Augmentum Fintech PLC - London-based investor focused on European private fintech companies - Notes investee Onfido, which helps businesses verify people’s identity via photo-based ID, has been acquired by Entrust Corp, a provider of software and hardware used to issue financial cards and user authentication. Augmentum says according to its understanding of the terms, it implies a valuation of its investment in Onfido at £10.1 million, up 4.1% from £9.7 million at September 30. The transaction will represent an internal rate of return of 6%, Augmentum says. It is Augmentum’s sixth exit.
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