Zilo raises £25m in Series A funding led by Fidelity International Strategic Ventures and Portage
The oversubscribed round will support product development and international expansion for the asset management software provider.
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 secured £25m in a Series A funding round co-led by Fidelity International Strategic Ventures and Portage. The raise also saw participation from State Street and Citi, and follows the recent deployment of the company software with its first client.
Founded in April 2020, the fintech company specialises in replacing legacy transfer agency systems with digital solutions tailored for asset and wealth managers. The fresh capital will be directed towards product development, user acquisition, market expansion, and strategic partnerships.
The oversubscribed round highlights growing demand among financial institutions for modern operational infrastructure. The company plans to use the investment to cement its position in the financial services software sector.
From the founder
"We are focusing on empowering financial service institutions to remove outdated legacy technologies and dramatically improve the cost efficiencies of their operations by using ZILO™ to transform to a modern digital solution supporting existing fund structures, new digital assets and improving client experiences."
Philip Goffin
Founder and Chief Executive Officer at ZILO
Investor perspective
"Fidelity International Strategic Ventures is excited to back the ZILO™ team who collectively have an impressive track record of disruption in the funds industry. ZILO™’s innovative software solutions enable firms to replace legacy transfer agency technology and end-of-life systems, many of which were developed more than 20 years ago, improving client outcomes by delivering a fully digital platform and user experience. We believe ZILO™ will play an important role in transforming the global asset and wealth industry over the coming years."
James Devlin
Principal, Fidelity International Strategic Ventures
Use of funds
- 01Continue product development
- 02Expand into international markets
