ZILO, a UK-based company specialising in asset and wealth management software, has successfully completed a significant Series A fundraising round, securing £25m.
This major financial milestone was co-led by Fidelity International Strategic Ventures (FISV) and Portage, with noteworthy participation from State Street and Citi. This strong backing underscores a collective confidence in ZILO’s vision and commitment to innovating in the financial services software sector.
ZILO’s primary focus is on providing modern, digital solutions to financial service institutions. These solutions are designed to replace outdated legacy technologies, thereby improving operational cost efficiencies. ZILO’s software supports existing fund structures and new digital assets while enhancing client experiences. The company’s innovative approach allows for the transformation to a modern digital solution, significantly impacting the asset and wealth management industry.
The funds raised in this Series A round are earmarked for several key objectives. ZILO plans to accelerate its product development, drive user acquisition, and strengthen its position within the FinTech industry. Moreover, the company aims to expand into new markets and pursue strategic partnerships, broadening its service offerings and enhancing its global reach.
Philip Goffin, founder and CEO of ZILO, emphasised the company’s mission: “We are focusing on empowering financial service institutions to remove outdated legacy technologies and dramatically improve the cost efficiencies of their operations by using ZILO to transform to a modern digital solution supporting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.”
Furthermore, James Devlin, Principal at Fidelity International Strategic Ventures, expressed his excitement about the investment: “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.”
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