ZILO, a London-based startup developing software for asset and wealth management, has secured a $27m (£20m) Series A extension round.
Founded in 2023, ZILO produces global transfer agency software, used to manage the records of the owners of various assets. The software is used to process transactions and keep track of investor details.
Now backed by new funds, the company plans to launch proprietary AI tools for the asset and wealth management industry.
“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,” said Philip Goffin (pictured), founder and chief executive of ZILO.
“We see strong pipeline growth for 2025 and 2026, with focus on onboarding new clients and launching innovative products. I would like to thank all our existing investors and the team at ZILO for their support in this funding round.”
The round, which follows the company’s Series A round in January 2024, was led by Portage, an investment group focused on fintech and financial services.
“There is rising demand in the wider market for modern platforms that can offer a truly global experience, support for emerging asset classes and enterprise-grade controls,” said Adam Felesky, co-founder and chief executive of Portage.
“ZILO’s success of partnering with leading global custodians since inception speaks to their differentiated technology.”
The round also saw participation from State Street, existing shareholders and management.