ZILO, a London FinTech specialising in global asset and wealth management software, has raised £25 million in a Series A funding round.

The fundraise, which was oversubscribed, was co-led by Fidelity International Strategic Ventures (FISV) and Portage, with participation from State Street and Citi.

ZILO plans to leverage the investment to expand its reach into new markets and pursue strategic partnerships that will broaden its service offerings.

“We are focusing on empowering financial service institutions to remove outdated legacy technologies and dramatically improve the cost efficiencies of their operations by using ZILO to transform to a modern digital solution supporting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.” said Philip Goffin, founder and CEO.

Last year the business saw the first client of its global digital transfer agency platform go live.

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James Devlin, principal, Fidelity International Strategic Ventures, said: “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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