Zilch secures £57.8m in series B funding backed by Gauss Ventures and M&F Fund to support international expansion.
The London-based financial technology firm has raised a series B round backed by Gauss Ventures and M&F Fund to scale its operations.
Zilch operates an advertising-subsidised payments network that integrates consumer rewards with retail marketing.
Zilch has secured £57.8m in a series B funding round backed by Gauss Ventures and M&F Fund. The capital will support the company as it prepares to launch in the United States and expands its team in the United Kingdom.
Operating as a regulated provider in the sector, the firm has grown its user base significantly since its launch. The fresh funding follows continued expansion in its headcount and product capabilities.
Chief executive Philip Belamant noted that the backing demonstrates confidence in the firm's model, which combines open banking technology with consumer affordability checks.
From the founder
"This funding is a demonstration of the confidence and strength of Zilch’s mission and products. By putting the customer first and building direct relationships with each of them, we are doing something no one else in the industry has done before. Zilch is far more than a BNPL company. We will very soon be launching in a number of new countries and continue the testing and rapid rollout of alternate ways for our customers to spend with Zilch."
Philip Belamant
CEO and co-founder at Zilch
Use of funds
- 01Expand into international markets
- 02Grow the team
- 03Continue product development
