Citi has taken part in a £25 million Series A funding round for UK FinTech Zilo, a company specialising in asset and wealth management software.
The fundraise was co-led by Fidelity International Strategic Ventures (FISV) and Portage, with additional participation from State Street.
Zilo said it will use the investment to further accelerate its product development, drive user acquisition, and grow its position in the FinTech sector.
It also plans to use the funding to expand into new markets and pursue strategic partnerships
“We are focusing on empowering financial service institutions to remove outdated legacy technologies and dramatically improve the cost efficiencies of their operations by using Zilo to transform to a modern digital solution supporting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,” said Philip Goffin, founder, and chief executive at Zilo.
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