Welsh Fintech Firm Delio Wealth Acquired by US-Based iAltA Holdings
In a significant development for the Welsh technology sector, Cardiff-based fintech venture Delio Wealth has been acquired by New York-based private markets infrastructure company iAltA Holdings. The financial terms of the deal have not been disclosed, but it marks a strategic move to bolster Delio's growth trajectory.
Management Continuity and Expansion Plans
The acquisition will see the existing management team at Delio Wealth remain in place to drive the next phase of business expansion. Founder and co-chief executive Gareth Lewis confirmed that the company plans to double its headcount to 50 employees as part of this growth strategy. Additionally, Delio has recently relocated to larger offices at Windsor Place in central Cardiff, adjacent to its previous location, to accommodate this planned expansion.
Delio's Role in Private Markets Infrastructure
Delio Wealth specializes in providing operating systems and investment structures that enable asset managers, wealth firms, and other financial distributors to digitize, distribute, and report on private market products. The company has established itself as a trusted provider, serving over 50 global financial institutions across 18 regulatory jurisdictions and supporting more than 12,000 end clients worldwide.
Strategic Partnership and Market Vision
Gareth Lewis emphasized the alignment between Delio and iAltA, stating, "Private markets have seen tremendous growth over the past few years, but the infrastructure has not kept up with the demand for access and offerings. iAltA is our ideal partner since both our organizations were founded on the principle that the markets need more seamless and effective solutions to meet these challenges. This partnership will increase both our reach and our impact."
iAltA Holdings, launched in 2025 by founding partners Scott Ganeles, Bill Sherman, Bill Crager, and Laurence Tosi, operates under a holding structure that integrates core shared capabilities with foundational technologies and strategic industry partnerships. Chief executive Scott Ganeles commented, "We founded iAltA because we saw a tremendous market need to solve systemic issues within the private market landscape for general partners and distributors. Delio has emerged as a digital infrastructure provider of choice for financial institutions seeking to integrate alternatives into their offerings while maintaining control over client experience."
Local Support and Economic Impact
The expansion of Delio in Cardiff has received support from Cardiff Council, highlighting the city's commitment to fostering fintech growth. Russell Goodway, cabinet member for investment and development, said, "Cardiff Council is delighted to have worked with the local Delio team to support their plans to create more business space in the centre of Cardiff. Given the opportunity for expansion locally, we hope this acquisition will lead to further growth in employment in the city and a strengthening of Cardiff's leading role as a fintech cluster for Wales and the UK."
This acquisition reinforces Delio's position as a cornerstone of fintech growth in Wales, with the partnership expected to enhance digital private markets capabilities and contribute to the regional economy through job creation and business development.
