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Series B extension combines debt and equity to provide Zilch with an additional $110m of funding

Zilch is one of the UK’s first ‘Buy Now, Pay Later’ apps regulated by the Financial Conduct Authority

London, July 23, 2021 – Zilch, the London-based fintech, announces it has raised a further $110m of debt and equity funding to service the phenomenal demand for its unique ‘buy now, pay later’ (BNPL) product as usage continues to soar.

The latest funding comes from Goldman Sachs Asset Management, DMG Ventures (the venture capital arm of the Daily Mail and General Trust plc) and others. This investment will enable Zilch to further accelerate its growth with nationwide media campaigns in the UK and the launch of its services in the US.

Zilch’s latest round makes it one of the best funded European fintech start-up’s at the Series B stage.

Philip Belamant, Founder and CEO at Zilch, “As our customer numbers continue to grow, we’ve taken the decision to raise additional capital to service this phenomenal demand. As Zilch continues to scale at pace, we’re delighted that well-respected institutions such as Goldman Sachs and DMG Ventures share our vision of what credit should be in today’s world and how that can be delivered directly to customers in the most responsible way. By putting our customers first and building direct relationships with each of them, we are doing something no one else in the industry has done before.”

Zilch is committed to providing customers with the ability to manage their cash flow responsibly and is one of the first fully regulated BNPL providers in the UK. The investments, which included debt from the Private Credit business within Goldman Sachs Asset Management, will accelerate Zilch’s expansion plans.

Pankaj Soni, Executive Director at Goldman Sachs Asset Management, “We’ve been tracking Zilch’s progress over the last 12 months and are impressed with the differentiated and direct to consumer approach that the company has taken to build its offering. We are delighted to be supporting their growth and look forward to build on our relationship in the coming years.”

Zilch is the first truly over-the-top (OTT) BNPL product that allows its customers to shop wherever MasterCard is accepted and spread their payment over six weeks for zero interest and zero fees. This lightweight, direct-to-consumer model allows Zilch to build direct relationships with its customers – Zilch is now the highest-rated product of its kind on Trustpilot – and scale significantly faster than its competitors as its deployment strategy is not restricted by borders or merchant acquisition and integration.

Manuel Lopo de Carvalho, CEO at DMG Ventures, “We’re excited to be joining as investors in Zilch, supporting Philip and the team. The pace of what they have achieved is phenomenal – the level of adoption Zilch has seen this year alone is remarkable. There is a clear opportunity to provide more accessible and responsible credit to UK consumers and we’re delighted to support Zilch in the proliferation of its brand and message to UK customers nationwide.”

This funding round follows a series of announcements from Zilch, including its latest unique feature, Tap and Pay-over-time. The fintech aims to become the largest BNPL player in-store in the UK without the need for its customers to use annoying bar / QR codes.

Zilch is built upon responsibility, offers transparency and is the only player in the industry that uses Open Banking technology combined with soft credit checks to gain a real-time view and understanding of the consumer’s affordability profile and make an accurate recommendation of what they can afford, preventing problem debt.

For more information, visit: https://www.zilch.com/uk/

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About Zilch

Zilch is the FinTech darling of the UK – Born in London, its unique over-the-top platform is the first of its kind in the fast-growing Buy Now, Pay Later (BNPL) space. By taking accountability for its customers, Zilch removes the anxiety associated with credit. Its proprietary data-driven credit assessment technology focuses on optimising its users’ cash flow whilst preventing over-indebtedness. The company is growing at lightning speed with soaring numbers of sign-ups each month, making it the fastest-growing BNPL in the UK.

Unlike other players in the BNPL space, Zilch’s merchant agnostic proposition offers its users unrestricted access to the entire online retail space, so they can shop wherever they choose to do so. Wanna buy it? Zilch it!

Press contacts

For any media enquiries please contact [email protected]

London, 19th April, 2021 – Zilch, the London based start-up redefining the Buy Now, Pay Later (BNPL) industry, today announces it has raised $80M in their series B funding round, backed by numerous investors including Gauss Ventures and M&F Fund. Over the last 2 years, the company has raised more than $120 million and is now valued at over $500M.

The Fintech is committed to responsible spending and is the first and only fully Financial Conduct Authority (FCA) regulated BNPL in the UK. The startup is scaling at pace, its mobile app recently hit number 2 on the App Store charts just behind PayPal and its growing customer base is fast approaching half a million customers. Zilch is one of the fastest growing BNPL providers in the UK with thousands of signups a day.

The funding will be used to launch in the USA and continue the company’s growth in the UK by investing further in product innovation and development. Over 2020 Zilch has rapidly expanded its internal talent and more than quadrupled its headcount to 80, with 100 new hires planned as it grows its UK headquarters and looks to enter the US market. Strategic hire includes Werner Kruger, ex VP of Data Science at Klarna and Monese’s ex-Chief Analytics Officer, as Chief Data Officer and more recently, Amabel Polglase, ex-Head of Global Clients at Facebook, as Chief Marketing Officer.

Unlike other players in the industry, Zilch is the first truly over-the-top (OTT) BNPL product that allows its customers to shop wherever MasterCard is accepted and spread their payment over 6 weeks for zero interest and zero fees. This lightweight, direct-to-consumer model allows Zilch to build direct relationships with its customers – Zilch is now the highest-rated product of its kind on Trustpilot – and scale significantly faster than its competitors as its deployment strategy is not restricted by borders or merchant acquisition and integration.

Philip Belamant, Founder and CEO at Zilch, “This funding is a demonstration of the confidence and strength of Zilch’s mission and products. By putting the customer first and building direct relationships with each of them, we are doing something no one else in the industry has done before. Zilch is far more than a BNPL company. We will very soon be launching in a number of new countries and continue the testing and rapid rollout of alternate ways for our customers to spend with Zilch.

Our inspiration is fuelled by Gen Z and millennials, who make up a large part of our customer base. Their demand for convenient and transparent products drives us to keep innovating and improving our offering. We have built a digital platform that links our customer with every retailer in the world allowing us to learn what our customers want, build those features and ship them for a dime to every customer of ours in an instant – exciting times ahead!”

Zilch is the only fully Financial Conduct Authority (FCA) regulated player in the UK, having worked with the regulator over 12 months to secure a consumer credit authorisation in 2020 – a testament to Zilch’s unique approach of placing consumer financial wellness at the heart of its operations.

This funding round follows Zilch’s latest announcement of their latest unique feature, Tap and Pay-over-time. The fintech aims to become the largest BNPL player in-store in the UK without the need for its customers to use annoying bar / QR codes. This will be the first-ever product of its kind in the UK and Europe and will allow Zilch customers to add the Zilch card to their digital wallet of choice and easily tap and pay in-store and spread the costs over a six-week period.

UK Fintech continues to put customer’s first by empowering them to pay later with just a tap

Zilch, a London based start-up redefining the Buy-Now-Pay-Later (BNPL) market, today becomes the first-ever ‘Tap & pay-over-time’ product in the UK and Europe. Helped by fintech solutions provider Monavate and with strategic partnerships from Apple Pay, Google Pay and Samsung Pay, Zilch customers can now easily tap and pay later in-store and spread the costs over a six week period.

Zilch unveils ‘Tap & pay-over-time’ at a time of accelerated growth, recently hitting 200,000 customers and gaining more than 80,000 new signups a month. Zilch has also recently hired Werner Kruger, ex-VP of Data Science at Klarna and Monese’s ex-Chief Analytics Office as Chief Data Officer to oversee risk and help the company achieve its ambitious expansion plans.

This feature is another step forward in Zilch’s mission to bring more convenience to customers in the most responsible way. As the UK’s high streets begin to reopen, Zilch’s new ‘Tap & pay-over-time’ feature will support consumers to shop instore while still having access to flexible and responsible pay-over-time options. The seamless nature of the offering also allows retailers to accept Zilch payment, both off and online without changing any of their current payment infrastructures.

In line with always putting the customer first, Zilch believes responsibility must be at the heart of lending, with no exceptions. The company was born with regulation at its core and ensures it is lending responsibly to users and encouraging financial wellness practices. Unlike other players in the market, Zilch is fully regulated by the Financial Conduct Authority (FC A), having worked with the regulator over 12 months to secure a consumer credit authorisation in 2020 – a testament to Zilch’s unique approach of placing consumer financial wellness at the heart of its operations.

Philip Belamant, Founder and CEO at Zilch, “At Zilch, we always put our customers first by giving them the freedom to choose where, when and how they shop while offering a responsible and convenient way for them to make payments over time. Integrating with Apple Pay, Samsung Pay and Google Pay falls in line with our mission to become the best way to pay over time, anywhere – we are excited to be partnering with these leaders of convenience and when it comes to making a payment. Our partnership with them is another way that we can create a completely easy and seamless journey for our customers.

Gen Z and millennials make up a large part of our customer base and are key to driving change when it comes to convenience and transparency – in a good way. The inspiration to keep innovating and bettering our product comes largely from them, and there will be more to come – watch this space.”

Scott Lucas, CCO at Monavate said, “We’re on a mission to help our clients simplify and improve the way their customers pay, which makes Tap & pay-over-time something that does just that – an exciting product to help launch.

Tap & pay-over-time will expand consumer choice in a payments landscape that we know increasingly demands it. Zilch’s ability to innovate alongside changing customer demand is reflected by significant growth to date and ambitious targets going forward, something we’re proud to help make a reality.”

Zilch’s unique over the top platform means they are merchant agnostic and customers can tap to pay later wherever they want. Users can keep track of all their purchases in one place – whether made online or in-store – ensuring they have a transparent view of their finances as well as their repayment timelines. Zilch also ensures responsible lending by combining Open Banking technology with soft credit checks to build a personalised affordability profile for each customer. Tap & pay-over-time is another step forward in Zilch’s mission to put their consumers in full control of their money and make life as convenient as possible.

Source: The Daily Brit

Zilch and StudentBeans form a partnership to offer students meaningful discounts and zero cost finance

By The Daily Brit NewsDesk

Zilch, a London based start-up redefining the Buy Now, Pay Later (BNPL) market, today announces its new Student Discount Deals product in partnership with StudentBeans.

Designed to seamlessly find and collate discounts for students to ensure they are always presented with the best deals in a quick and easy way – the new product is another big step forward in Zilch’s mission to put their consumers in full control of their money.

Due to the Corona virus pandemic, students must now more than ever be able to study from home; It is important that all students therefore are offered responsible options to acquire the products and equipment they need to succeed with their education regardless of their financial position.

Our new service enables students to seamlessly find deep discounts for their favourite products and stores and pay over time with no hidden costs.

Zilch believes responsibility must be at the heart of lending, with no exceptions. The company was born with regulation at its core and ensures it is lending responsibly to users and encouraging financial wellness practices. Unlike other players in the market, Zilch is fully regulated by the Financial Conduct Authority (FCA), having worked with the regulator over 12 months to secure a consumer credit authorisation – a testament to Zilch’s unique approach of placing consumer financial wellness at the heart of its operations.

Zilch’s mission is to support its Gen Z users to shop responsibly by adding transparency in the market. The company uniquely makes use of Open Banking data and AI to determine the affordability of each checkout, never lending more than a user can afford to pay back, which ensures students are spending responsibly.

With Zilch, students have clear insight and control over their payment plans, which they can easily access via the app at any time. To ensure no payments are missed, we already alert users when payments are due ahead of time to better help them plan their weekly and monthly cash flow. Users also benefit from Zilch’s Snooze feature, which grants users the power to delay repayment on an instalment, or an entire payment plan, by 4-7 days – for free. No interest, no hidden fees.

Philip Belamant, Zilch founder and CEO at Zilch, said “We’ve been asking our customers how they shop and it was clear to see that students are making use of BNPL options but have to find the best deals and use payment options offered by different retailers and stores. This process is not only complex and tedious but is in some cases misleading. We are offering our customers a consolidated and simple way to get the best price combined with the best way to pay overtime at their favourite stores.”

“Our unique over the top platform means that they can shop wherever they like using Zilch and do not have to keep track of multiple repayment timelines. By combining our Open Banking affordability checks that ensures Zilch only lends what users can afford as well as the best possible discounts at any given time, we feel that this is the most responsible way to deliver this offering to younger customers.”

William Harris, Product Director from StudentBeans said, “Through this partnership, StudentBeans and Zilch are taking steps to deliver maximum value to our shared Gen Z customer base. A combination of deep discounts, as well as the ability to responsibly pay over time, will provide exactly that.”

Zilch is merchant agnostic and enables its customers to shop wherever Mastercard is accepted and spread their payment over 6 weeks for zero interest and zero hidden fees. Described by reviewers as ‘the next shopping revolution’ Zilch offers customers a virtual MasterCard token that can be used anywhere the customer chooses.

Zilch secures additional funding from leading Global fintech investors including Gauss Ventures and the co-founder of Money Supermarket, Simon Nixon

London-based Zilch released its full consumer offering in early 2020 and has experienced huge growth with over 30,000 new customers signing up every month

London, December 16, 2020 – Zilch, a London based start-up redefining the Buy Now, Pay Later (BNPL) market place has secured an additional $30m equity funding enabling it to close its oversubscribed pre Series B in less than 3 weeks. 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.

The UK FinTech – which recently became the UK’s first BNPL FinTech to secure a consumer credit authorisation with the Financial Conduct Authority (FCA) – has introduced a number of strategic investors during this round including one of the world’s largest VC funds, Gauss Ventures and Simon Nixon (Seek Ventures and co-founder of Money Supermarket).

Zilch CEO and Founder, Philip Belamant said, “We are excited and humbled by the response our product has received by both investors and customers alike. Customers recognise our dedication to focus on their needs. This is what sets us apart from other BNPL players in the market today and what continues to drive us in creating a new category – we want and can help people during these difficult times as our systems self adapt to the socio economic conditions of the day and we feel privileged to be in a position to do so. We are just getting started and have some amazing new features coming soon, all of which track our customers’ way of life, financial constraints and aspirations!”

Unlike traditional BNPL products that require technical integration with merchants, Zilch’s unique (patent pending) model does not require any integration and can thus instantly provide its customers accessibility everywhere. This gives Zilch the ability to scale rapidly and one of the reasons why customers are calling it, “a shopping revolution” and more recently, “the new AmEx”.

Philip continues, “Zilch ensures customers never over-borrow. We make use of Open Banking and AI along with soft credit checks to determine each customer’s level of affordability. As a result, Zilch’s customers rarely default and make use of the product as a cash flow management tool, which has proven to be of huge value to our customers.”

Zilch delivers its unique proposition to customers by leveraging its strategic partnership with Mastercard. Jason Lane, EVP, Market Development Europe at Mastercard commented: “Zilch is helping shoppers manage their cash flow in a way that suits them best and we are excited to partner with innovative FinTechs, such as Zilch, across Europe as we scale innovative payment solutions that improve people’s lives.”

Commenting on the investment, Nikita Tchesnokov, Partner of Gauss Ventures, said “Zilch is one of the most exciting and disruptive new players to enter the BNPL market. The company sets itself apart by engaging customers at the beginning of the buying journey and giving them a seamless, interest free method of purchase. This unique consumer centric approach, coupled with its technology and understanding of the millennial and Gen Z population, are core reasons for our decision to invest in the business. Gauss Ventures is thrilled to play a part in supporting Zilch’s ambitious plans and we wish the team all the best for the next chapter of their exciting journey.”

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ABOUT ZILCH

Zilch is the new FinTech darling of the UK – Born in London, it’s unique “Over-The-Top” platform is the first of it’s kind in the fast-growing Buy Now Pay Later (BNPL) space.

Press contacts:
[email protected]

FinTech startup Zilch becomes one of the first BNPL to secure its FCA consumer lending authorisation

Zilch redefines BNPL market by placing consumer financial wellness first

London, November 23, 2020 – Zilch, a London based start-up redefining the Buy Now, Pay Later (BNPL) market, has today become one of the UK’s first BNPL FinTech to secure a consumer credit authorisation with the Financial Conduct Authority (FCA).

The move marks a historic moment for the UK Fintech industry – and is a testament to Zilch’s unique approach of placing consumer financial wellness at the heart of its operations.

Philip Belamant, Zilch founder and CEO said, “Zilch was built with customer affordability at the forefront of everything we do and we have been working towards this point since our conception. Having secured our consumer credit authorisation with the FCA is another step towards improving consumer financial wellness and removing credit related anxiety for our customers.”

Zilch is the only player in the industry that makes use of Open Banking data (in partnership with CreditKudos) as well as soft credit checks to ensure each customer’s creditworthiness and affordability is assessed accurately every time they shop, preventing burdensome debt.

The fintech entered the FCA’s innovative Regulatory Sandbox Programme to work hand in hand with the regulator on its unique consumer-focused approach to buy now pay later.

Philip continued, “We have been working very closely with the FCA over the past 12 months to make this a reality – I don’t think I’ve ever come across a regulator with such a forward thinking approach to innovative business models. The Sandbox programme allowed us to seek advice from the FCA, get their oversight and guidance on our initial testing and ultimately ensure we were building a model that is not only profitable for our business but, importantly, one that works for our customers too.”

Over the last few years the FCA has taken critical steps to ensure that the consumer credit market is a transparent and trustworthy space for the consumer and in September, the FCA announced a review of the future regulation of the unsecured credit market, which will consider the impact of the pandemic, new business models and the growth of unregulated products.

“We welcome and fully support this approach and believe lenders should always do their best to ensure they are at no point becoming a burden on the customer. For this to happen one must make use of the latest technologies in order to assess not just credit worthiness but affordability too. Zilch is leading the way in this regard.”

Zilch is the most unique player to enter the BNPL market with it’s over-the-top solution which allows customers to pay over time and interest free wherever MasterCard is accepted.

Unlike the majority of BNPL providers that work with merchants to offer cash at checkout, Zilch is merchant agnostic and has partnered with Mastercard to provide a service directly to its customers wherever they choose to shop. Customers can use Zilch to get discounts and deals as well as pay over time wherever they like through one, easy to use experience.

For more information, visit: https://www.zilch.com/uk/

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ABOUT ZILCH

Zilch is the new FinTech darling of the UK – Born in London, it’s unique “Over-The-Top” platform is the first of it’s kind in the fast-growing Buy Now Pay Later (BNPL) space.

Consumers can delay repayments by 4-7 days at no cost, helping to improve cash flow and financial wellness

Using Open Banking technology, Zilch will proactively recommend Snooze to customers who would benefit most from it

London, November 17, 2020 – Zilch, a London based start-up redefining the Buy Now, Pay Later (BNPL) market, today launches it’s latest market leading feature – Snooze. Using opening banking, Snooze grants consumers the power to affordably delay repayment on an installment, or an entire payment plan, by 4-7 days – for free. No interest, no hidden fees.

This is another step taken by Zilch to place consumers in a position of power to proactively manage their cash flow, reduce financial stress and maintain financial wellness.

Philip Belamant, Zilch founder and CEO at Zilch, said, “At Zilch, we build every new feature with the customer front of mind. We understand 2020 has been a year like no other – people have lost their jobs, changed roles or been furloughed through no fault of their own and, as a result, their income has been affected with little warning. It’s more important now than ever to provide our customers with a proactive way to inform us that they need more time to complete a payment or need to tweak the repayments schedule. Snooze is a quick, simple and free way to do this without having to spend time on the phone/chat/email to a support team.

Ultimately, giving our customers this option not only increases their control over cash flow, but also significantly reduces the chances of missed payments, removing any credit-related anxiety and increasing financial wellness. It’s a win win all round.”

Using innovative Open Banking technology combined with soft credit checks to assess an up-to-date view of customer affordability, Zilch will be able to offer this feature in real time. If Zilch is alerted to an impact on customer earnings, it will proactively suggest Snooze if it determines this is the best course of action to improve a customers cash flow position.

The FinTech already alerts users when payments are due ahead of time to better help them plan their weekly and monthly cash flow. By combining this with Snooze, Zilch is building upon its mission to champion the needs of customers by placing them in control of payment management. Now Zilch customers can make payment early, snooze a payment or sit back and let Zilch automatically collect it – all for free.

Zilch is the newest player to enter the BNPL market and the first over-the-top solution – but takes responsibility and offers transparency some traditional BNPL players don’t embrace. As the only player in the industry that uses Open Banking technology, Zilch has a real-time view and understanding of the consumer’s affordability profile and makes the accurate recommendation of what they can afford, preventing debt.

For more information, visit: https://www.zilch.com/uk/

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ABOUT ZILCH

Zilch is the new FinTech darling of the UK – Born in London, it’s unique “Over-The-Top” platform is the first of it’s kind in the fast-growing Buy Now Pay Later (BNPL) space.

By taking accountability for its customers, Zilch removes the anxiety associated with credit. It’s proprietary data-driven credit assessment technology focuses on optimising its users’ cash flow whilst preventing over indebtedness. Zilch is growing at lightning speed with quarterly growth exceeding 120% and monthly registrations now at 20,000. Unlike other players in the BNPL space, Zilch’s merchant agnostic proposition offers its users unrestricted access to the entire online retail space, so they can shop wherever they choose to do so. Wanna buy it? Zilch it!

Buy Now Pay Later (BNPL) provider Zilch selects challenger credit reference agency Credit Kudos to use their Open Banking affordability platform and promote responsible lending to more customers

BNPL is already used by over 6m UK consumers*, especially younger adults, with consumer habits as well as income patterns changing due to COVID-19

Lenders can ensure they are lending responsibly at scale through rich affordability insights – Open Banking has helped Zilch take the lead in the sector, applying rigorous affordability and creditworthiness checks whilst maintaining a fast, simple on-boarding process

London, October 15, 2020 – Buy Now Pay Later (BNPL) provider Zilch has partnered with challenger credit reference agency and Open Banking provider Credit Kudos to better assess affordability of its customers.

BNPL, an alternative credit form which allows consumers to spread the cost of a purchase over a certain number of instalments, has become an increasingly popular way to use credit – especially among younger people – with the UK sector growing by 39% a year.* BNPL is expected to gain even more traction with many looking for financial products that offer them greater flexibility, especially given greater uncertainty in their income due to the pandemic.

The COVID-19 outbreak has brought affordability into sharp focus and BNPL providers are under increased pressure to protect potential borrowers – in particular young adults – and ensure responsible lending practices by carrying out proper affordability checks – whilst providing a seamless and fast customer experience.

Traditional bureau data does not provide lenders with enough information to assess affordability and creditworthiness. Using consumer-consented Open Banking data, lenders can now access a consumer’s up-to-date financial information, without having to perform invasive hard credit checks – ensuring thorough affordability checks whilst avoiding unnecessary delays for customers.

Zilch offers the first BNPL Mastercard that enables its customers to shop at any online retailer, spreading their payments over a number of instalments. As millions of individuals continue to struggle financially as a result of the pandemic, the company focuses strongly on affordability to ensure that their customers can afford to repay their deferred purchases. It does so by using Credit Kudos’ Open Banking powered real-time insights, providing a breakdown of a customer’s expenditure, a comprehensive view of their financial situation as well as predicted and historical spending analysis.

Zilch announces $11m in new funding to continue scaling its unique over-the-top Buy Now Pay Later (BNPL) business.

The London-based fintech launched its BETA product in August 2019 and has been operating in stealth mode until now. Zilch has experienced a huge amount of traction in the young millennial and GenZ market and has been growing by more than 10,000 new customers a month.

Zilch is the first over-the-top (OTT) BNPL product that allows its customers to shop wherever Mastercard is accepted and spread their payment over 6 weeks for zero interest and zero fees whenever they chose to buy from one of Zilch’s 5,000+ retail affiliate partners. Unlike traditional BNPL products that require technical integration with merchants, Zilch’s unique (patent pending) model does not require any integration and can thus instantly provide its users accessibility everywhere. This gives Zilch the ability to scale rapidly.

Zilch ensures that customers never over-borrow by making use of Open Banking and AI to determine each customer’s level of affordability and only funds low-value discretionary purchases. As a result, Zilch’s customers rarely default and make use of the product as a cash flow management tool, which has proven to be of huge value during this COVID period.

Philip Belamant, Zilch founder and CEO, said, “Our unique over-the-top approach to BNPL has been built out of our strong knowledge for instalment cards in developing economies such as South Africa and South America amongst others. We combine the benefits of instalment and card products to offer the best way for our customers to pay overtime, anywhere. We believe that this generation should be able to responsibly have what they want, when they want without being financially penalised for the privilege.”

Zilch delivers its unique proposition to customers by leveraging its strategic partnership with Mastercard. Jason Lane, EVP, Market Development Europe at Mastercard commented: “Zilch is a flourishing fintech which aims to help shoppers manage their cashflows in a way that fits their timeline. At Mastercard we continue to be the partner of choice for fintechs across Europe as we strive to help scale innovative payment solutions that improve people’s lives.”

Zilch customers already enjoy the ability to pay over time anywhere they like online at big brands such as Amazon, eBay, Ali Express, Nike and more but will soon be able to “tap and pay over time” in-store too.

The London based fintech will make use of the proceeds from the funding round to accelerating the rollout of their product offering.

Commenting on the partnership, Joanne Dewar, Chief Executive Officer of Global Processing Services, said “We have been working closely with Zilch to support their unique processing model, and are excited about their promising growth in the space. We look forward to working closely with them as they continue to scale.”