£250k Manchester fund brings FinTech business Delio to city
FinTech business Delio is launching an office in the North West thanks to a £250,000 loan from the Greater Manchester Export Fund (GMEF).
The first additions to the team now in place and the firm will move to the new XYZ building in the Spinningfields area of the city in September.
It will then expand and grow the team by creating a further 20 posts.
Delio currently has offices in Cardiff, London and Brussels and the Export Fund loan has enabled the company to build a significant presence in Manchester to help better to serve international clients.
Co-founder David Newman said: “Currently 50% of Delio’s income comes from export sales; we only see this growing and the support available from the Export Fund will play a key role in helping achieve this.”
Manchester's Spinningfields area
"The new office will play a key role in expanding its client base across Europe, Australia, Asia and the Middle East.
CEO Gareth Lewis added: “The combination of the support from the Export Fund as well as the deep fintech talent pool in Manchester and easy connectivity to our key international markets meant that Manchester was the obvious and preferred location for us to grow our internationally focused team.”
Delio helps financial institutions connect private asset investments with high net worth capital through interlinked white-label platforms.
An impressive client list includes the likes of ING, UK Business Angels Association and Align17.
Inside the XYZ building
Andy Nichols, Senior Loan Manager at BFS, said: “Delio is a fantastic example of the fast-growth, ambitious business that the Export Fund was created to help.
“They have already secured an impressive client base, many of whom they are now working with to build international partnerships and opportunities.
“Their new Manchester office has already delivered high quality jobs in the region and will play a big part in confirming GM as a digital centre and a recognised hub for FinTech businesses.”
The GM Export Fund was open from November 2015 to May 2017 to small or medium enterprises located in Greater Manchester.
Delivered by Business Finance Solutions, Business Growth Hub and the Department for International Trade (DIT) which are all part of The Growth Company, the GMEF provides access to a wide range of International trade support for both new and existing exporters along with access to loan funding to enable local businesses to secure and grow export contracts all over the world.