ZILO Secures £25 Million in Series A Funding: Accelerating Financial Services Software Innovation

January 9, 2023

ZILO™, a UK-based FinTech specialising in global asset and wealth management software, has just announced an impressive achievement—a £25 million Series A funding round. This funding, oversubscribed and co-led by Fidelity International Strategic Ventures (FISV) and Portage, with participation from State Street and Citi, signals robust support for ZILO™'s vision and commitment to revolutionising financial services software.

Philip Goffin, ZILO™'s founder and Chief Executive Officer, articulates the company's mission succinctly: "We are focusing on empowering financial service institutions to remove outdated legacy technologies and dramatically improve the cost efficiencies of their operations by using ZILO™ to transform to a modern digital solution supporting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."

James Devlin from Fidelity International Strategic Ventures expresses excitement about the investment, highlighting ZILO™'s potential to disrupt 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."

The Series A funds will be instrumental in advancing ZILO™'s goals. They are earmarked for accelerating product development, driving user acquisition, and expanding ZILO™'s position in the FinTech sector. Furthermore, the investment will facilitate ZILO™'s expansion into new markets and the forging of strategic partnerships to broaden its service offerings.

Adam Felesky, Co-founder and CEO of Portage, underscores the urgency of ZILO™'s mission: "Legacy solutions are near their end of life, leading to significant business continuity risk for many. In a short time, we believe ZILO™ will be the global solution of choice."

This funding marks a significant milestone for ZILO™, following the successful go-live of its first client on its revolutionary global digital transfer agency platform in July. The company's traction in the market is undeniable, with clients recognizing the robustness and innovation of ZILO™'s software.

ZILO™'s software is designed with user-centricity in mind, offering state-of-the-art features that provide unparalleled experiences to both clients and end-users. Its commitment to modernizing financial services is evident in its approach, aiming to replace outdated systems with cutting-edge digital solutions.

As ZILO™ continues to gain momentum, supported by strategic investments and a growing client base, it is poised to make a lasting impact on the asset and wealth management industry. With its innovative approach and strong backing, ZILO™ is well-positioned to lead the way in transforming financial services software globally.