Zilch, a London, UK-based based Buy Now, Pay Later (BNPL) startup, secured an additional $30m equity funding and closed its pre Series B round.
Investors included Simon Nixon (Seek Ventures and co-founder of Money Supermarket) and Gauss Ventures.
Zilch is now in prime position to continue scaling its unique over-the-top BNPL business, which has seen customer registration numbers quadruple over the last 6 months and transaction volume grow by more than 100% month-on-month.
Led by CEO and Founder Philip Belamant, Zilch leverages a (patent pending) model that does not require any integration and can thus instantly provide its customers accessibility everywhere. Its proprietary data-driven credit assessment technology focuses on optimising its users’ cash flow whilst preventing over indebtedness.
The company, which recently secured a consumer credit authorisation with the Financial Conduct Authority (FCA), delivers its proposition to customers by leveraging its strategic partnership with Mastercard.