ZILO raises GBP 25 million in Series A funding round

According to ZILO’s officials, the company is currently focusing on enabling financial services institutions to eliminate outdated legacy technology and improve the cost-efficiency of their operations. ZILO aims to allow these organisations to integrate modern digital solutions while supporting their existing fund structures, and digital assets, and improving customer experiences. Representatives from Fidelity International Strategic Ventures expressed their enthusiasm over this move, stating that ZILO’s software solutions can allow firms to replace legacy transfer agency technology and systems. Through this, financial services institutions can improve customer outcomes by offering a fully digital platform and user experience.

ZILO intends to leverage the newly acquired funds to further accelerate product development, increase user acquisition, and expand its position in the fintech sector. Furthermore, ZILO aims to use the investment to enter new markets and strategic collaborations that can broaden its service offerings. The capital infusion follows the successful go-live of one of ZILO’s first clients on its global digital transfer agency platform at the end of July 2023. Prior to the go-live, the company conducted extensive research and the timing of the launch coincided with the raised demand for UK firms to demonstrate value for their investors. Moreover, the go-live of ZILO aimed to facilitate the shift of the traditional outsourcing firms from legacy software and operating models to more efficient and cost-effective operating platforms. The company’s SaaS software focused on delivering a global cloud-based Transfer Agency solution that provided a single consistent platform across several jurisdictions.

Also, the ZILO software has a user-centric design and enhanced features, providing an improved experience for both clients and end-users. One of the company’s commitments is to transform the global transfer agency market by upgrading the software of custodian banks and outsourcing organisations, thus allowing them to provide more efficient services to their asset and wealth manager clients. In addition, ZILO aims to reduce cost, and complexity, as well as to create sustainable value for firms and the customers they serve.