back Back

FinTech Zilch secures £100m debt finance ahead of its public listing

By Gloria Methri

June 19, 2024

  • ASPN
  • BNPL
  • Consumer Credit
Share

Zilch, BNPL, Debt Financing, ASPN, Consumer Credit, FinTech, UK, Europe

British FinTech Zilch has secured £100 million in debt financing ahead of its much-anticipated public listing.

Zilch, which offers buy now pay later (BNPL) services subsidized by ads, said it will use the funds to launch new products for a “broader base of customers”.

The securitisation debt deal was arranged by Deutsche Bank.

Zilch CEO and Co-Founder Philip Belamant said, “With this new securitization, we’re poised to triple sales volumes and achieve significant capital efficiencies as we continue to drive billions in commerce to our retail network and, in turn, hundreds of millions in savings and subsidies to our customer base.

“This partnership not only provides an excellent opportunity for debt investors to join in Zilch’s success, but it also enables us to accelerate the rollout of our feature roadmap which will broaden wallet and market share,” he added.

In under four years, Zilch has amassed over 4 million customers and is now processing more than 10 million monthly payments. The platform gives customers a reward-earning debit and zero-interest instalment offering in one.

Zilch says it generated over £2.5 billion in commerce and saved its customers more than £450 million in fees and interest through its ad-subsidization model.

Hugh Courtney, Chief Financial Officer of Zilch, said the securitization represents a “major milestone as we work towards an IPO in the future.”

“We are excited to announce our entry into the securitization market. Optimizing our capital structure and pricing is key to providing our customers with more flexible ways to pay. Deutsche Bank really leant in to find a bespoke solution to match our uniquely capital-efficient model,” he said

“The financing sets an initial benchmark for us to price our debt issuance in the future, allowing us to competitively match the pricing and terms as the business continues to develop. Finally, the securitization represents a major milestone as we work towards an IPO in the future.”

Previous Article

June 19, 2024

Brazilian FinTech Celcoin raises $125m investment led by Summit Partners

Read More
Next Article

June 19, 2024

Veefin obtains strategic stake in Regime Tax Solutions through its subsidiary

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

ASPN

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

4 B2B SaaS platforms transforming business operations in the UK

Read More

Today

Google Play & Cash App Pay offer next-gen consumers with payment options

Read More

Today

Revolut secures UK banking licence

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024