Founded in 2020, Zilo is aiming to replace legacy approaches to transfer management, which is the process for overseeing investments and assets.
In brief:
- UK-based asset and wealth management software vendor Zilo has raised £25mn in a Series A funding round joined by Citi.
- The oversubscribed round was co-led by Fidelity International Strategic Ventures and Portage, with participation from State Street alongside Citi.
- The startup said it will use the funds to support product development, drive user acquisition and explore strategic partnerships.
What does this mean?
Philip Goffin, CEO, Zilo, says: “We are focusing on empowering financial service institutions to remove outdated legacy technologies and dramatically improve the cost efficiencies of their operations by using Zilo to transform to a modern digital solution supporting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.”
