Zilch raises $125m in debt from Deutsche Bank to prepare for an initial public offering.
The London fintech secured the financing facility from Deutsche Bank to support sales growth and future public market plans.
≈ £98.3M at $1 = £0.7861 on 19 Jun 2024
Zilch operates an advertising-subsidised payments network that integrates consumer rewards with retail marketing.
London-based fintech Zilch has secured $125m in debt financing from Deutsche Bank to support its upcoming initial public offering and drive sales growth.
The capital, provided by the German banking giant, gives the company more flexible terms than its previous credit arrangements and forms part of a larger credit facility totalling $315m. Zilch plans to deploy the fresh funds to develop new products aimed at a broader customer base and accelerate its path towards a public market debut within the next two years.
The buy now, pay later provider has previously worked with Goldman Sachs for credit lines and continues to expand its merchant network through its proprietary advertising and payments platform. Management estimates that the debt facility will enable billions in gross merchandise value over the coming years.
From the founder
"We’re thrilled to announce the financing as it marks a transformative step in Zilch’s journey. With this new securitisation, 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."
Philip Belamant
CEO and co-founder at Zilch
Use of funds
- 01Continue product development
