Cardiff FinTech Delio Wealth has been acquired by US firm iAltA Holdings.
Delio, which is co-led by founder Gareth Lewis, is a provider of white-label private market operating systems for financial institutions and will continue to operate under its own name.
The firm, which featured on our recent FinTech 50 ranking, achieved profitability in 2024 and appointed industry heavyweight Felicia Meyerowitz Singh as chair late that year.
In 2025 it looked to build out key relationships with strategic partners and increase headcount presence in key markets across the UK, Europe and US.
Now used by more than 50 global financial institutions across 18 regulatory jurisdictions, Delio’s infrastructure supports more than 12,000 end clients worldwide.
“Private markets have seen tremendous growth over the past few years, but the infrastructure has not kept up the demand for access and offerings,” said Lewis.
“iAltA is our ideal partner since both our organisations were founded on the principle that the markets need more seamless and effective solutions to meet the challenges of demand.
“This partnership will increase both our reach and our impact.”
Launched in 2025 by founding partners Scott Ganeles, Bill Sherman, Bill Crager and Laurence Tosi, iAltA – backed by WestCap – has a holding structure that blends core shared capabilities with foundational technologies and strategic partnerships with industry leaders.
It says each subsidiary operates independently while collectively contributing to the holding company’s larger strategy and unified digital ecosystem.
“We founded iAltA because we saw a tremendous market need to solve systemic issues within the private market landscape for general partners and distributors,” said CEO Ganeles.
“Delio has emerged as a digital infrastructure provider of choice for financial institutions seeking to integrate alternatives into their offerings while maintaining control over client experience.”
The acquisition is the third for iAltA’s private markets vertical, which seeks to empower asset managers and distributors to transact dynamically, efficiently engage with investors, streamline fund operations and make data-driven decisions.