Zilch secures £41.1m Series C follow on investment to support business growth.
The extension brings total funding for the round to $160m while maintaining the company valuation.
Zilch operates a payments platform combining debit and credit features with cash flow management tools. The company allows consumers to pay using debit or structured credit installments anywhere Mastercard is accepted.
Zilch has secured an additional £41.1m in funding as an extension to its Series C round, bringing its total raise for the round to $160m. The latest injection of capital maintains the company valuation and will support ongoing international expansion efforts, particularly in the United States following the opening of a Miami office.
The business has seen strong adoption for its hybrid payment model, which offers rewards on debit transactions and interest free installment options. The funding follows regulatory milestones in the UK, where the firm operates under an FCA consumer credit licence and complies with upcoming sector frameworks.
From the founder
"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. 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 world’s most empowering way for people to pay for anything, anywhere."
Philip Belamant
CEO & Co-Founder at Zilch
Use of funds
- 01Expand into international markets
