Zilch announces $50m funding

Buy Now, Pay Later (BNPL) firm Zilch has secured $50 million in funding, bringing the total raised by the company in this latest round to $160 million.

The latest cash injection brings the London-based FinTech’s total funding to over $460 million in debt and equity, meaning the company maintains its existing valuation.

Zilch said that the new capital will be used to fund business growth, with a focus on the US market.

Zilch announced last month that it was launching in the US.

The company, which will base its US operations out of a new headquarters in Miami, said that it is launching with over 150,000 pre-registered customers.

“In a world of rising interest rates and inflation, it has never been more important for customers to have access to a payment product that they can depend on for savings, deals and cash flow management with no interest or late fees of any kind," said Philip Belamant, chief executive and co-founder, Zilch. "Open Banking data shows how customers of all ages are migrating away from traditional high-cost credit cards or overdrafts in favour of services like Zilch - saving them millions.

"This extension is a great endorsement of our unique model as well as our investors' belief in our ability to deliver on our mission to create the worldʼs most empowering way for people to pay for anything, anywhere.”

    Share Story:

Recent Stories

Meet Evelyn, your Economic Sanctions/PEP/Adverse Media Alert Adjudication Analyst
Meet Evelyn, an Economic Sanctions/PEP/Adverse Media Alert Adjudication Analyst, who uses native AI/ML capabilities to automate the Customer/PEP screening and Negative News screening alert adjudication processes for leading BFS organizations with greater speed, accuracy, and consistency than human analysts.

New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.