UK-headquartered private markets fintech Delio has raised $8.3 million in growth funding, led by European venture capital investor Octopus Ventures and supported by early backers Maven Capital Partners.
The latest investment in Delio, which powers the private markets platforms of more than 90 financial institutions, including Barclays, UBS and Sumitomo Mitsui Trust Bank, brings its total equity funding raised to date to $15.5 million.
The UK fintech said it will use the latest investment to develop its international operations and “lay the foundations” for a digital private markets infrastructure, from which capital raisers, financial institutions and investors can connect and share investment opportunities.
According to Delio, over the past decade, the market size for private equity has tripled to $6 trillion.
Gareth Lewis, CEO and co-founder of Delio, said: “With investor demand at an all-time high, there is a lot of noise around how institutions overcome the traditional barriers to private markets.
“We’ve taken a different approach, creating white-labelled technology that acts as the digital building blocks on which firms can scale their propositions.
“The growth funding from Octopus Ventures validates this approach and strengthens our plan of stimulating greater connectivity between financial institutions, capital raisers and investors.”
Edward Keelan, investment principal at Octopus Ventures added that financial institutions involved in private markets “face complex challenges”, mainly around deal distribution, regulatory governance and overall client experience when recommending private investments to clients.
“Delio’s market-leading private company technology solution is already serving some of the world’s largest global wealth managers, private and investment banks, with this funding round allowing Delio to continue to enhance its suite of private market infrastructure solutions, as well as scaling into new geographies,” Keelan said.