April 21, 2024

Welsh fintech expands home-grown presence and saves jobs with new tech hub in Swansea

Fast-growing fintech company Delio is increasing its presence across South Wales by opening a new tech hub in Swansea. The announcement aligns with Delio’s strategy of building the core of its business in Wales, creating employment opportunities to attract the best local tech talent, while continuing to grow its international presence.

Delio’s decision to open a second South Wales office comes during a period when a number of businesses have downsized their Welsh operations or are looking to find their talent outside of Wales. As part of the expansion, Delio will take on a number of highly skilled staff from Finnish digitalisation specialist Gofore, who recently announced the closure of its Swansea operation. The recruitment drive will see Delio grow its team by almost 15% to 65 staff worldwide.

Gareth Lewis, Chief Executive, said:

“At Delio, we remain proud of our Welsh origins, and are committed to investing in Wales and its talent. It is time for stakeholders to recognise that the core of a vibrant entrepreneurial ecosystem in Wales needs to start from within – we all need to contribute to creating the momentum around homegrown success stories that will generate broader benefits for this country.

“This means as much support as possible needs to be focused on companies that are proud of their roots and engrained in their local communities, rather than those locating here to benefit for the short-term. In return, we hope the best local talent will want to embrace the exciting opportunities made available to them by companies like Delio.

“With the opening of an additional hub in Swansea, we are expanding our presence across South Wales and creating a place where the country’s brightest tech talent can thrive. A few years ago, many young Welsh people would leave to start their career within the tech sector elsewhere. However, as the fintech sector in Wales continues to flourish, it is fair to say that the time of having to look elsewhere for high-quality opportunities is a thing of the past.”

Swansea Council leader Rob Stewart said:

“I welcome Delio to Swansea and am delighted that they have chosen Swansea as the location for their new office.

“Delio have recognised the fact that we have a pool of local talent who can add value to their high-tech business and I know they have plans to further expand in the area.

“We’re working hard through our £1bn-plus regeneration programme to create the right environment for tech businesses to start, thrive and grow in Swansea.”

The scale-up business, which has seen significant growth since its inception in 2015, has made attracting and retaining local talent a core part of its strategy. A series of high-profile client wins has resulted in Delio doubling the size of its team over the last 12 months, with an enhanced presence across the Middle East, Europe, the US, Asia Pacific and Australia.

Delio develops technology for financial institutions operating in private markets, helping them to engage with today’s investors more effectively. The software provider works with a diverse range of financial institutions both in the UK and internationally and was recently named FinTech Scale-Up of the Year at the Fintech Awards Wales. Its clients include top-tier banks and angel networks, including Barclays, ING, National Australia Bank, and the UK Business Angels Association (UKBAA).