Welsh fintech Delio among 10 tech companies selected for FinTech Innovation Lab New York

Gareth Lewis - Chief Executive at Delio

Ten emerging technology companies have been selected to participate in the 2021 FinTech Innovation Lab New York, a 12-week program founded by Accenture and the Partnership Fund for New York City that helps early- and growth-stage enterprise tech companies accelerate product and business development through in-depth engagement with top financial services and venture capital executives.

Among this year’s participants is Cardiff-based fintech Delio, which has been selected from more than 200 applications across the globe, helping financial institutions address key societal challenges and develop improved digital products for customers.

The Cardiff-based fintech company, which develops investment platforms for a range of financial firms, has become one of Wales’ fastest-growing businesses in recent years. After raising over £3m in investment in their 2019 Series A round, Delio expanded across the US, Asia Pacific and the Middle East. Now the company hopes to bolster its position in the US through the fintech programme.

Selected by senior technology executives from the Lab’s 44 participating financial institutions, the ten fintech companies will spend the next 12 weeks receiving intensive product and business-development advice, as well as mentoring from senior executives in the financial, technology and venture capital sectors.

Gareth Lewis, Delio’s co-founder and chief executive, said: “This is a fantastic opportunity for a scale-up company like Delio. While we’ve tapped into the North American market and gained new clients over the last year, the scale of opportunities across the US is tremendous. This programme allows us to establish meaningful relationships with some of the most prominent institutions in New York.”

Delio’s entry into the programme is another endorsement of the South Wales fintech scene. Commissioned by UK Chancellor Rishi Sunak, the Kalifa fintech review named Cardiff and South Wales among the promising fintech clusters that could help the UK in its post-pandemic recovery.

Sarah Williams-Gardener, CEO, FinTech Wales, said: “In recent years, Wales has quietly been starting, scaling and selling amazing fintech business here in the Welsh valleys. And now, thanks to the work of Ron Kalifa, our secrets have been discovered, with South Wales and, in particular, Cardiff becoming a thriving hub for fintechs.

“Gareth and the team at Delio are testament to this. Their business is going from strength to strength, and being part of the FinTech Innovation Lab New York will give them the insights to the US markets and enable further expansion. We are delighted they have been acknowledged in this way and look forward to further global expansion, which we know will always have its feet firmly in Wales.”

David Treat, a managing director in Accenture’s Financial Services group and co-chair of the FinTech Innovation Lab New York, said, “We welcome this year’s class to the New York Lab and look forward to providing our mentorship and guidance as the companies refine their solutions. Digital innovation within financial services skyrocketed during the COVID-19 pandemic, and fintechs have truly led the way. Their ability to apply technology innovation in a focused, creative and unencumbered manner can help power new business models for financial services and address key societal issues, including climate change and the future of work.”