One of Wales’ leading fintech firms, Delio, has raised £6.1m in equity to support its growth plans and create new jobs.
Its latest funding has come from Octopus Ventures, while Maven Capital Partners, which led Delio’s series A round in 2019, is also re-investing in the company.
The funding, which will also support Delio’s international growth, brings the total equity raised to date to more than £11m.
Through its tech platforms, Delio, founded by David Newman and Gareth Lewis in 2016, enables leading banks, wealth managers and other financial institutions to connect investors with alternative assets such as private equity, private debt, and real estate.
Clients include Barclays, UBS and in Wales corporate advisory firm GS Verde Group, Global Welsh and Angels Invest Wales. It provides around £20bn of investment opportunities.
Delio currently employs just under 70, but this will increase to more than 100 on the back of its latest funding.
The Cardiff-based venture is one of a number of firms driving the fintech sector in South Wales, a cluster that has been recognised by both the 海角视频 and Welsh governments as having significant growth potential.
Co-founder and chief executive Mr Lewis said: “We’re proud to be part of the Welsh fintech growth story. Just a few years ago, Delio had only a handful of staff and a small client base. However, since then we have grown the business in a rapid and sustainable way and now work with institutions across Europe, North America and Asia.
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“This investment will allow us to capitalise on this momentum, partner with more global financial institutions, and develop our technology in new and exciting ways.”
He added: “As the Delio story evolves, we firmly believe that the next evolution of private markets will see the need to connect capital raisers, financial institutions and investors on a global, institution-by-institution basis.
"Thanks to the hard work from everyone in the team, Delio is perfectly positioned to act as the ‘digital plumbing’ for this shift, which will empower financial professionals to collaborate and share investment opportunities across each other’s networks like never before.”
Delio has not disclosed what equity stake its founders have following the latest equity round, or the shape of any future exit for its investors such as a flotation.