Fast-growing fintech firm to create 30 jobs in Cardiff

Delio, a Welsh fintech start-up that’s developed an investment platform for financial institutions, is to expand and create 30 jobs in Cardiff thanks to Welsh Government support.

Founded in 2015 by Gareth Lewis and David Newman, the company has created a white label platform that helps financial organisations connect high net worth clients with global private market investment opportunities.

The Welsh Government has provided the firm with £200,000 in repayable business finance. This money will allow it to expand and generate new jobs for the Welsh fintech sector.

An increase in headcount is essential for Delio to achieve its three-year growth plan, and it’ll also speed up its ambitious expansion plans. Delio is looking to exploit its IP through a blue chip financial and professional services client base.

Ken Skates, the Welsh economy secretary, 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.”

The Cardiff-based company specialises in creating sophisticated asset management platforms for financial services institutions in the UK and Europe, helping them appeal to high net wealth investors.

Bespoke by design, the platforms give clients and advisors the ability  to share, search and access private client opportunities directly – without having to use separate software.

Gareth Lewis, co-founder of the firm, 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.”

Delio works with a range of clients in the UK and Europe, although it’s currently in discussions with two of Britain’s largest financial institutions about rolling out the platform across their banking groups.

In just over a year, the company has expanded into Europe with the opening of an office in Brussels. It’s also working on  projects across Belgium, Holland and Luxembourg and Australia.

Mike Fenwick, director at professional advisory firm Broomfield & Alexander, assisted Delio in the grant application process. He 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.”