Asset and wealth management software provider ZILO has raised £20m in a Series A2 round, led by Portage with participation from State Street, existing shareholders and management.

The funding, at an increased valuation from its 2024 Series A, will fuel global expansion and the rollout of new AI-powered tools.

The London-based FinTech’s platform has already won major mandates from two of the world’s top five custodians and a leading asset manager, alongside deals with Fidelity International and State Street.