ZILO raises £21m in a Series A2 funding round led by Portage to expand its wealth management software.
The investment was led by Portage with participation from State Street, management, and existing shareholders.
ZILO builds software for asset and wealth management firms to replace legacy systems and modernise operations. The company provides cloud-based platforms designed for global custodians and fund managers.
ZILO has raised $27m, equivalent to £21m, in a Series A2 funding round led by Portage. The capital will support the company's international rollout, expansion into new target markets, and the development of proprietary artificial intelligence tools for the wealth management sector. Existing shareholders and management also participated in the raise, which follows strong commercial traction including client wins among major global custodians and asset managers.
The business has expanded its software capabilities since its initial Series A funding in early 2024, securing key partnerships with Fidelity International and State Street. The latest financing values the company above its previous round and provides fresh momentum as it prepares for further growth through 2025 and 2026.
From the founder
"We are pleased to announce this funding round which reflects the strong progress and momentum within ZILO™. Since we went live in 2023 with our proprietary platform, ZILO™ Global Core, we have successfully secured and onboarded two of the top five global custodians and a top five global asset manager within a relatively short period, demonstrating the institutional confidence in our platform to deliver industry changing efficiencies. We see strong pipeline growth for 2025 and 2026, with focus on onboarding new clients and launching innovative products. I would like to thank all our existing investors and the team at ZILO™ for their support in this funding round"
Philip Goffin
Founder and Chief Executive Officer at ZILO
Investor perspective
"We are delighted to further invest in ZILO™ and their vision. There is rising demand in the wider market for modern platforms that can offer a truly global experience, support for emerging asset classes and enterprise-grade controls. ZILO™’s success of partnering with leading global custodians since inception speaks to their differentiated technology."
Adam Felesky
Co-founder and CEO, Portage
Use of funds
- 01Expand into international markets
- 02Continue product development
