Delio has raised a further £6.2 million to enable financial institutions to create greater investor access to alternative assets such as private equity, private debt and real estate.
The FinTech, which digitises the private markets strategies of leading banks, wealth managers and other financial firms, received the backing from Octopus Ventures.
Additional investment from early-backers Maven Capital Partners brings the total equity funding raised by Delio to $15.5m.
The firm’s technology helps companies transform how they offer unlisted investment opportunities to their clients. Headquartered in Cardiff with teams operating globally, it powers the private markets platforms of more than 90 financial institutions worldwide, including the likes of Barclays, UBS and Sumitomo Mitsui Trust Bank.
“With investor demand at an all-time high, there is a lot of noise around how institutions overcome the traditional barriers to private markets,” said Gareth Lewis, CEO and co-founder.
“We’ve taken a different approach, creating white-labelled technology that acts as the digital building blocks on which firms can scale their propositions.
“The growth funding from Octopus Ventures validates this approach and strengthens our plan of stimulating greater connectivity between financial institutions, capital raisers and investors.”
Edward Keelan, investment principal at Octopus Ventures, said: “Financial institutions involved in private markets face complex challenges around deal distribution, regulatory governance and overall client experience when recommending private investments to clients.
“Delio’s market-leading private company technology solution is already serving some of the world’s largest global wealth managers, private and investment banks, with this funding round allowing Delio to continue to enhance its suite of private market infrastructure solutions, as well as scaling into new geographies.
“Furthermore, there is strong alignment between Delio and Octopus in making private company investing more available for all investors and we look forward to supporting the team on this journey.”