Delio – founded by Gareth Lewis and David Newman in 2015 – has developed a Configurable, white label platform for financial institutions that helps distribute deal flow and connect high net worth clients with global private market investment opportunities.
The Welsh Government is providing £200,000 repayable business finance that will take the business to the next level, creating 30 new jobs and safeguarding a further seven.
The investment and increase in headcount is essential for Delio to achieve its three-year growth plan and will speed up its expansion plans enabling the business to exploit its IP via a blue chip financial and professional services client base.
Economy Secretary Ken Skates said:
“Financial Technology is a fast-growth areas for the Welsh economy and one which we are keen to support and develop. Our thriving tech ecosystem with its growing supply chain, combined with our entrepreneurial universities, provide a firm foundation for these sectors to thrive.
“Delio has already been noted for its high growth potential and joins a growing number of emerging, smart Welsh companies that are clearly making their mark in this market. I am pleased Welsh Government funding will support Delio’s expansion plans.”
Delio creates private asset platforms for financial services institutions enabling them to appeal to the next generation of high net wealth investors. The bespoke platforms allow their high net worth clients, potential clients and advisors to share, search and access private client opportunities directly using a common platform.
It was born out of the changing needs of today’s wealth creators who are increasingly looking to invest directly in opportunities across private equity and debt, social impact and real estate; both direct and via funds. Previously, the offerings of financial institutions were not evolving to accommodate this shift in needs and this is where Delio steps in.
Delio co-founder Gareth Lewis said:
“Our solution helps everyone – from family offices through to global banks – offer more to those seeking to invest directly in private equity, debt, real estate and other asset classes. It provides markets for a range of uses – platforms can connect together multiple institutions on an individual basis so deal flow can be shared both internally and with external partners.
“It can not only be used to improve distribution to existing networks but also to reach new investors and sources of deal flow by sharing opportunities with total control and flexibility.”
As well as working with clients in the UK and Europe, Delio is currently in discussions with two of the UK’s major financial institutions about rolling out their offering across the banking groups.
In just over a year Delio, which has offices in London, has extended its customer base into Europe – opening an office in Brussels and working on projects across Belgium, Holland and Luxembourg and Australia.
The company was assisted with the grant application process by Mike Fenwick director of grants at professional advisory firm Broomfield & Alexander.
Commenting Mike said:
“Delio is a great example of a financial technology business with significant growth potential and it is great news that the company has decided to grow its operations in Wales with support from the Welsh Government. I wish Gareth and the team every success.”
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