Buy now, pay later: London-based fintech startup Zilch raises a further €93.4 million for its continued expansion
Summary
The London-based fintech startup Zilch today announced it has raised a further €93.44 million of debt and equity funding to service the growing demand for its unique “buy now, pay later” (BNPL) product as usage continues to soar. Philip Belamant, Founder and CEO at Zilch, commented: “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. Pankaj Soni, Executive Director at Goldman Sachs Asset Management, commented: “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 allows its customers to shop wherever MasterCard is accepted and spread their payment over six weeks for zero interest and zero fees.