ZILO, the UK-based fintech specialising in the global asset and wealth management sector, has completed a GBP25m (USD32m) Series A funding round. The fundraising, which was oversubscribed, was co-led by Fidelity International Strategic Ventures and Portage, with participation from State Street and Citi. In 2023 ZILO onboarded the first client to its global digital transfer agency platform – understood to be Citi – and will use the funds to accelerate product development, drive user acquisition, and grow ZILO’s position in the fintech sector. ZILO also plans to leverage the investment to expand its reach into new markets and pursue strategic partnerships that will broaden its service offerings.
