Zilch Raises 100M Financing Deal To Fuel Expansion Strategy
Zilch, the world’s first ad-subsidised payments network (ASPN), has secured a significant £100 million securitised debt financing led by Deutsche Bank (DB). This financing is aimed at fueling Zilch’s growth initiatives and accelerating the development of new products catering to a wider customer base. In less than four years, Zilch has grown rapidly, attracting over 4 million customers and processing more than 10 million monthly payments. The platform offers a unique debit and zero-interest instalment solution combined with reward incentives, saving customers over £450 million in fees and interest through its innovative ad-subsidisation model.
Philip Belamant, CEO and Co-Founder of Zilch, expressed excitement about the financing, highlighting its transformative impact on Zilch’s trajectory. He emphasized that the new funding will support Zilch in tripling sales volumes and enhancing capital efficiencies, enabling the company to expand its market presence and deliver substantial savings to its customer base.
Hugh Courtney, Zilch’s CFO, noted that entering the securitisation market is a strategic move to optimize capital structure and pricing, crucial for offering flexible payment options to customers. He highlighted Deutsche Bank’s role in tailoring a bespoke financing solution that aligns with Zilch’s unique business model, setting a benchmark for future debt issuance as the company prepares for future growth and potential IPO.
For more information about Zilch and its innovative payment solutions, visit www.zilch.com.
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