Octopus Ventures EIS Service  

News from your portfolio – 6 January 2024 to 5 April 2024

A company making good progress in your portfolio to date is Integrated Finance – which helps fintech companies connect various parts of their financial services stack through a single integration. Integrated Finance helps businesses build and expand their financial infrastructures, offering easy to integrate foreign exchange (FX) products for existing payment platforms. Apart from providing core banking solutions, the company has partnerships with financial services providers to offer a marketplace of pre-built integrations available via a single Application Programming Interface (API). The company has partnered with Currencycloud (an FX company), and by utilising its infrastructure-as-a-service, Integrated Finance can offer its fintech customers access to Currencycloud benefits, enabling them to build cross-border payments and FX functionality into their own platforms in a quick and easy manner.

Overall, however, the valuation of your total portfolio has decreased. Imophoron is an example of a company which has decreased in value in the period, due to challenges with raising further funding rounds, and agreed milestones set at the time of investment not yet being achieved.

Contingent & Future Technologies Ltd (“Contingent”) was unfortunately placed into administration on 8 April 2024 (just outside the reporting period). Please read the updates below and the potential tax implications this may have for you.

We’ll continue to work with your portfolio companies to help them realise their ambitions. In some cases, the support offered could include further funding, to make sure a business has the capital it needs to execute on its strategy, and in other cases these may ultimately not be successful. We will continue to keep you updated with all relevant developments across your portfolio as it matures.

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