Maven Capital Partners (“Maven”), one of the UK’s most active private equity houses, has invested £2 million in high-growth FinTech provider Delio Limited (“Delio”). The funding will support the business scale its international sales team across key global financial locations in Europe, Asia, the Middle East and North America.
The initial £2 million investment in Delio, a white-label software platform which helps global financial institutions manages its private asset offerings, will also support further product innovation, including “add-on’s” to its existing innovative SaaS solution. This funding adds to the overall investment round totalling £3.3 million, which includes further funding from existing investor the Development Bank of Wales. Maven’s £2 million investment will rise to £3 million if a further tranche is required.
Delio’s agile and configurable software is enabling private banks, wealth managers, family offices, angel networks, and investment funds, to appeal to the next generation of high net worth investors. The platform’s processes and tools are helping these organisations enhance their service proposition by providing a compliant way of allowing clients and advisers to share and access direct, private market investment opportunities internally and across their networks. Institutional investors can deliver full details of investments to their current and potential client base through Delio’s powerful and intuitive portal, while the system also provides clients with a consolidated view of their investments.
Launched in 2015 and based in Cardiff, Delio facilitates financial institutions to address the changing needs of today’s wealth-creators who are becoming increasingly more active in the construction of their private investment portfolios and seek to invest directly in opportunities across a range of alternative assets. In a short space of time the business has attracted a blue-chip client base from across the financial service sector, including Coutts, ING and Barclays.
James Darlington, Investment Manager at Maven, said: “Maven are delighted to support Delio as it seeks to expand its presence in a growing global market. The Company has successfully developed a highly scalable, technology enabled solution which will drive a shift towards the streamlined and secure digital investment process of private asset transactions.
Delio has proven its market leading offering to date, boasting a high-quality client base that covers geographies around the world, including three of the top five UK Private Banks. Their service offering is already demonstrating true ROI for their blue-chip clients which has assisted them in generating an attractive pipeline.
We are fully supportive that the Co-Founders, Gareth and David, along with their dynamic and ambitious team, have the necessary sector experience and entrepreneurial drive to grow Delio to become a key player in the fintech market. We are excited to support the businesses next stage of growth as they look to accelerate their hiring plan, further establish themselves across global financial hubs, and continue to develop their technology service offering.”
Gareth Lewis, Chief Executive at Delio, added: “To reach this milestone and receive this backing from Maven is not just recognition of the work put in by the team to date, but it’s an indication of the sizeable near term growth opportunity available to the business as we continue to establish ourselves as leaders in developing technology enabled private market propositions for a range of financial institutions around the world.
The financial support will enable us to accelerate our hiring roadmap in key geographies, whilst continuing to look at how our flexible technology infrastructure and expertise can support the increasing number of organisations looking to do more in private markets. In doing this, we have identified a number of exciting ancillary opportunities where we can believe we can deliver further value to our clients.
We as a team are hugely excited to be partnering with Maven and look forward to what’s in store for Delio during the next part of our journey.”