Zilch achieved both operating profit and surpassed $130 million revenue run rate in July 2024. The speed at which Zilch has achieved profitability places it in the same bracket as European fintech giants such as Revolut, Starling Bank, and Monzo. All four companies also reported revenues in excess of $130 million within three to five years1, with Zilch almost doubling revenues in the year to March 2024. By comparison, industry data shows that it takes the average tech company 8-10 years in the US to break through the $100m revenue ceiling, 15 years in Europe and 17 years in the UK.
Zilch, the world’s first ad-subsidised payments network (ASPN), today announces a key £100 million securitised debt financing arranged by Deutsche Bank (DB). The financing will enable Zilch to grow its business and accelerate Zilch’s ability to create and launch new products for a broader base of customers.
The Zilch-Thredd partnership combines payment network connectivity and transaction management expertise that allows Zilch to focus on its key business objectives of driving billions in commerce to retail partners on ASPN while delivering hundreds of millions of savings, discounts and rewards to their growing customer base. The two companies work collaboratively on product and service innovations to improve the experience of over 4 million customers using Zilch.
Zilch expands its consumer credit offering with launch of longer-duration zero-interest payment option, adding to existing ‘Pay over 6 weeks’ product. Designed for bigger-ticket purchases of £75+, ‘Pay over 3 months’ stands out as a regulated credit option within the UK market, offering an extended repayment period. Customers use their Zilch card on average 100 times a year
April 24th marked an incredible milestone for Zilch as we stood shoulder to shoulder with 50,000 innovators and forward thinkers who attended this year’s 2024 AWS Summit London. Our CEO and Co-Founder, Philip Belamant, had the honour of being asked to deliver a captivating keynote to open the conference, unveiling our groundbreaking collaboration with Amazon Web Services (AWS).
Zilch has moved into a shiny new office in Victoria as we gear up for major expansion ahead of a potential IPO later this year. The firm has upgraded to a 18,500 square foot site, more than double the size of its old office, allowing more desk space for an expanded workforce. CEO Philip Belamant said he and colleagues had to “wheel down the street” a statue of a unicorn to get it to the new site. The unicorn had been bought to mark the firm hitting a billion-dollar valuation, a milestone it achieved in 2021.
