FinTech provider Delio secures £2m for international sales
FinTech software platform Delio has secured a £2m investment from Maven Capital Partners.
Launched in 2015 and based in Cardiff, the white-label software platform helps private banks, wealth managers, family offices, angel networks, and investment funds to enhance their proposition within the direct private market and peer-to-peer investment arenas.
The business has attracted a blue-chip client base from across the financial service sector, including Coutts, ING and Barclays.
Funding will support the business scale its international sales team across key global financial locations in Europe, Asia, Middle East and North America
The investment will support further product innovation, the firm said, including “add-on’s” to its existing innovative SaaS solution.
This funding adds to the overall investment round totalling £3.3m, which includes further funding from existing investor the Development Bank of Wales. Maven’s £2m investment will rise to £3 million if a further tranche is required, it said.
James Darlington, investment manager at Maven, said: “Delio has proven its market leading offering to date, boasting a high-quality client base that covers geographies around the world, including three of the top five UK Private Banks.
Their service offering is already demonstrating true ROI for their blue-chip clients which has assisted them in generating an attractive pipeline.
“We are fully supportive that the co-founders, Gareth and David, along with their dynamic and ambitious team, have the necessary sector experience and entrepreneurial drive to grow Delio to become a key player in the FinTech market.
Gareth Lewis, Chief Executive at Delio, added: “To reach this milestone and receive this backing from Maven is not just recognition of the work put in by the team to date, but it’s an indication of the sizeable near term growth opportunity available to the business as we continue to establish ourselves as leaders in developing technology enabled private market propositions for a range of financial institutions around the world.”