Zilch Secures £100M Deal for Expansion and Innovation
Zilch, headquartered in London, UK, recently secured a £100,000,000 securitisation debt deal to support its expansion strategy. The deal was spearheaded by Deutsche Bank (DB), and the funds raised will be used to fuel growth and allow the company to introduce new products to a wider customer base.
As a provider of an ad-subsidised payments network (ASPN), Zilch, under the leadership of CEO Philip Belamant, has been successful in helping customers build their credit profiles with major credit agencies.
Since its launch in 2020, the company has garnered over 4 million registered customers within just 44 months. This latest deal marks a significant milestone for Zilch, as it prepares to triple its sales volume and move closer to an IPO.
Zilch's innovative approach to offering a direct-to-consumer ASPN has resonated well with consumers seeking alternative payment solutions. With the new injection of funds, the company is set to further disrupt the traditional payment landscape and continue to make strides in the fintech industry. The future looks bright for Zilch as it pushes forward in its mission to provide accessible and affordable financial services to a growing audience.
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