Development Bank of Wales lead latest fundraising round for UK FinTech Delio
UK FinTech Delio has reached its latest financial milestone after raising £1M in a further fundraising round led by the Development Bank of Wales.
Together with the participation of new and existing private investors, the investment supports Delio’s ongoing expansion in Europe, Asia, and the Middle East. The news comes as the company appoints two key signings to bolster its leadership team.
Gareth Morgan, former chief risk officer of HSBC Private Bank in Asia Pacific, joins Delio as chief risk and compliance officer, while Andy Samuel joins as chief technology officer after holding a number of executive roles at Virgin Money, Iron Mountain and Target Group.
The boosted funding and expanded leadership team rounds off a successful year for the firm which has seen it authorised by the Financial Conduct Authority, enabling the team to offer regulatory support to its partners to further enhance the investment propositions they offer their clients.
The past twelve months has also seen Delio enter into a number of key partnerships including with Coutts, ING, and the UK Business Angels Association (UKBAA).
As well as working on the ‘Align 17’ impact investing initiative, which is supported by UBS and the World Bank, Delio is also part of the FinTech Hive program in Dubai.
The fast-growing list of firms using Delio’s digital solutions, including top tier banks, family offices and angel networks, are increasingly looking to leverage upon Delio’s capabilities to create ecosystems and share and syndicate deal flow beyond their own networks.
Gareth Lewis, co-founder and CEO of Delio said: “Following our success over the last 12 months, this latest investment allows us to accelerate our growth and build on our existing achievements into the new year.
“Gareth and Andy are both fantastic additions to our team and we’re all really excited to have them on board. As we continue to grow our already burgeoning global client base we will be looking to strengthen our team further still.”