London-based WealthTech firm Zilo has raised $27 million in a Series A2 funding round.
The funding, raised at a higher valuation to the £25 million Series A announced in January 2024, was led by Portage with participation from newly contracted customer State Street, existing shareholders, and management.
Zilo launched its SaaS technology platform for global transfer agency services in 2023, promising asset and wealth managers a modern, cost-efficient alternative to expensive and inefficient legacy systems.
The funding will be used will be used for product development, drive user acquisition, reach into new markets and pursue strategic partnerships that will broaden Zilo's service offerings.
Philip Goffin, Founder and CEO of Zilo, says: Since we went live in 2023 with our proprietary platform, Zilo Global Core, we have successfully secured and onboarded two of the top five global custodians and a top five global asset manager within a relatively short period, demonstrating the institutional confidence in our platform to deliver industry changing efficiencies.
"We see strong pipeline growth for 2025 and 2026, with focus on onboarding new clients and launching innovative products."