Zilch, a London, UK-based credit payment innovator, secured an additional $50m in funding, taking the total raise for its Series C to $160m.
The extension brings total funding to more than $460m in debt and equity.
The company intends to use the funds for business growth, with a focus on the US market where Zilch recently opened its Miami office and launched with more than 150,000 pre-registered customers.
Co-Founded by Philip Belamant (CEO) and Sean O’Connor, Zilch is advancing products for customers to manage cash flow and to ensure consumer protection and financial health from the start. Utilizing Open Banking technology and so credit checks, the company uses its real-time view and understanding of customerʼs affordability to give accurate recommendations of what they can afford to borrow.
Zilchʼs direct-to-consumer proposition offers its customers unrestricted access to all 37m merchants that accept Mastercard, online or instore via Tap and Pay. It works with some of the most advanced fintech enablers including: Amazon Web Services, Cross River, Checkout.com, Cashflows, Experian, GPS, Monavate, Marqeta, Mastercard, Onfido, Provenir and Socure.
The company has over 250 employees based across its offices in London, Miami and Krakow.
Investors in Zilch include Ventura Capital, Goldman Sachs Asset Management, Gauss Ventures, DMG Ventures, M&F Fund and Limited Ventures.
FinSMEs
01/07/2022