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Zilch secures £100 million financing deal

Zilch secures £100 million financing deal

With one eye on an IPO in 2025, London-based buy now, pay later firm Zilch has secured £100 million in securitised debt financing arranged by Deutsche Bank (DB).

In the four years since its inception, Zilch has amassed over four million customers and now processes more than 10 million monthly payments. Zilch gives customers a reward-earning debit & zero-interest instalment offering in one.

Zilch CEO and co-founder Philip Belamant says the new financing will be put to use to triple sales volume and achieve capital efficiencies.

“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 says. "We’re adding over 100,000 new customers every month, doubling revenue year over year, and this deal will allow us to build upon that momentum.”

Currently valued at $2 billion, Zilch has held talks with the London Stock Exchange, New York Stock Exchange and Nasdaq about a listing, although it has yet to decide on a venue

Hugh Courtney, Zilch CFO. comments: “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 securitisation represents a major milestone as we work towards an IPO in the future.”

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