Fintech company Zilch Technology Ltd., which is based in the United Kingdom, raised 100 million pounds ($127 million) as part of the deal on securitized debt financing.
The mentioned deal was arranged by Deutsche Bank AG. UK fintech company that provides services to consumers within the framework of a functional Buy Now, Pay Later (BNPL) solution, is currently striving to scale its activities. The firm’s efforts in this direction are related to the preparation for the initial public offering (IPO) of shares. The listing of the specified fintech industry player in the United Kingdom is scheduled for next year.
Raised funding is expected to provide Zilch with the opportunity to develop new products. Successful implementation of the relevant plans will have a beneficial effect on the company as an increase in the number of its customer base. The relevant information is contained in a statement that was published by the fintech industry player in the United Kingdom on Wednesday, June 19.
Currently, Zilch serves more than 4 million customers every month. Also, during the mentioned period, the company processes more than 10 million payment transactions.
In 2022, as part of the Series C funding round, Zilch was valued at $2 billion.
Philip Belamant, Co-Founder and Chief Executive Officer of the company said in March during a conversation with media representatives that the firm was approaching becoming profitable. At that time, he also noted that the company plans to hold an IPO next year and has already held talks with Nasdaq, the New York Stock Exchange, and the London Stock Exchange.
As we have reported earlier, Linq Raises $6.6 Million to Bring AI to Financial Analysts.
