Portage is a global investment platform focused on fintech and financial services with over US$4.7B under management, 115+ portfolio companies, and 25+ investment professionals. Our firm has offices in Canada, the United States, Europe, and the Middle East.
Portfolio
6
companies
AUM
£4.7B
under management
Agio Ratings
Agio Ratings provides quantitative risk insights and default probability ratings for digital asset markets.
Happl
Happl provides an operating system for managing employee benefits across international markets.
Haruko
Haruko provides digital asset investment management and risk solutions for institutions.
Lopay
Lopay offers low cost card payment processing and instant settlement for small businesses.
Marshmallow
Marshmallow provides fairer vehicle insurance for drivers with non-standard credit histories.
ZILO
ZILO develops enterprise software for the asset and wealth management sector.
Stephanie Choo
Partner
Stephanie serves as a general partner at Portage. She also holds investor roles across several companies, including Atomic, Albert, and Conduit.
LinkedInJuliette Souliman
Principal
Juliette is a principal at Portage and co-founder of Ground Floor Ventures. She also holds board and observer roles across several firms including Sagard UK, ZILO, and Najar.
LinkedIn
Adam Felesky
Co-founder and CEO
Adam serves as co-founder and chief executive officer of Portage, alongside holding multiple board memberships across financial and wealth services firms.
LinkedInHélène Falchier
General Partner
Hélène is a partner at Portage Ventures. She previously led private equity at CNP Assurances and served as CEO of Open CNP.
LinkedIn
Devon Kirk
General Partner & Co-Head
Devon is a general partner and co-head at Portage, holding directorships across multiple companies including FINN, Marshmallow, auxmoney, and ThetaRay.
LinkedInThe oversubscribed funding round was led by Portage Ventures with participation from F Capital and existing investors.
"Happl began with a simple belief: benefits should be easy to understand, easy to manage and easy to implement. What we’ve built goes far beyond that, a global platform that removes complexity at scale and connects employees with solutions that truly reflect their needs."
AlbionVC led the investment round alongside Portage Ventures and MS&AD to support team expansion.
"Growing institutional participation is transforming crypto markets and creating a greater need for credible, independent risk intelligence. Agio Ratings provides a clear, data-driven view of the probability of default for exchanges and other institutions, and their alerts deliver a valuable independent signal alongside our own monitoring by flagging anomalous transaction patterns."
The investment was led by Portage with participation from State Street, management, and existing shareholders.
"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"
The funding round doubles the insurtech unicorn's valuation to over $2bn with backing from Portage, BlackRock, and Columbia Lake Partners.
"Our ambition is to become a one-stop-financial-shop for newcomers so they feel as though it’s easy to move to, and live in, a different country. We’ve already supported over one million people in the UK with their insurance needs, but we’re only just scratching the surface. There are still major financial services barriers that make it harder for newcomers to settle and take part in everyday life. This funding gives us the capital to solve these problems and deliver against our mission."
The oversubscribed round was backed by Fidelity International Strategic Ventures, Portage, State Street Corporation and Citi.
