Zilch secures £79.9m in Series B extension funding from Goldman Sachs Asset Management and DMG Ventures
The Series B extension combines debt and equity to support nationwide campaigns and expansion into the US market.
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.
London based financial technology provider Zilch has raised £79.9m in a Series B extension round combining debt and equity. The capital was secured from Goldman Sachs Asset Management and DMG Ventures, alongside other backers.
The new funds will be deployed to accelerate the company growth through nationwide media campaigns across the UK and the launch of its services in the United States. This financing follows strong customer adoption for its payment platform, which permits users to spread purchases over six weeks without interest or fees.
The transaction places the firm among the most well funded European financial technology start ups at this developmental phase. Zilch intends to utilise the injection to cement its market position as it expands its footprint.
From the founder
"As our customer numbers continue to grow, we’ve taken the decision to raise additional capital to service this phenomenal demand. As Zilch continues to scale at pace, we’re delighted that well-respected institutions such as Goldman Sachs and DMG Ventures share our vision of what credit should be in today’s world and how that can be delivered directly to customers in the most responsible way. By putting our customers first and building direct relationships with each of them, we are doing something no one else in the industry has done before."
Philip Belamant
CEO & Co-Founder at Zilch
Investor perspective
"We’ve been tracking Zilch’s progress over the last 12 months and are impressed with the differentiated and direct to consumer approach that the company has taken to build its offering. We are delighted to be supporting their growth and look forward to build on our relationship in the coming years."
Pankaj Soni
Executive Director, Goldman Sachs Asset Management
Use of funds
- 01Expand into international markets
- 02Invest in sales and marketing
