Hill Dickinson advises Maven on US$8.3m co-investment deal into fintech Delio

Delio, a white-label technology provider to leading financial institutions, has secured follow-on investment of US$8.3 million in its latest funding round.

The joint investment round was led by venture capital investor Octopus Ventures and supported by early backers Maven Capital Partners, and brings total equity funding raised to date to US$15.5 million.

The investment will allow Delio to further enhance its suite of private market infrastructure solutions for leading banks, wealth managers and other financial firms, as well as scaling into new geographies. 

Maven was advised by the Manchester Corporate team of law firm Hill Dickinson, led by legal director Sean Lightfoot and associate Graeme Anderson.

Commenting on the deal, Sean Lightfoot said; “This deal represents the second large investment we have advised the team at Maven on in respect of Delio and follows an initial investment round in 2019. This latest co-investment with Octopus Ventures reinforces Maven’s early confidence in Delio that the company’s management team has the vision, drive and the technology to scale its operations further and continue to reach new markets.”

Maven is one of the UK’s leading private equity and alternative asset managers, providing a range of funding options to dynamic SMEs and attractive investment opportunities in venture capital trusts, private equity and property.

Delio’s data-driven platform technology helps companies transform how they offer unlisted investment opportunities to their clients by digitising the private investment cycle from start to finish. The software enables financial institutions to offer a more intuitive investment experience, enhance their operational efficiency and gather invaluable user insights.