Zilch expands securitization to £150m with Deutsche Bank investment from leading global credit fund
Zilch, the world’s first ad-supported payments network (ASPN) fintech payments innovator, today announces successful expansion of £50m in additional securitization capabilities, taking total volume to £150m I did. In addition to lead arranger Deutsche Bank, two of the world’s largest credit funds also participated in this latest round.
This press release features multimedia. Read the full release here: https://www.businesswire.com/news/home/20241027900689/en/
Zilch partners with Deutsche Bank to expand securitization to £150m with investment from leading global credit funds (Image: Business Wire)
The total transaction will enable Zilch to support £10bn of commerce annually and maintain its rapid growth trajectory. The latest facility expansion and largest expansion, just four months after the initial securitization announcement, reflects Zilch’s acceleration in trading and lending volumes. Securing the addition of two of the world’s top credit funds is a testament to the strength of Zilch’s loan portfolio and strong regulatory foundation.
Philip Belamant, CEO and co-founder of Zilch, said: “Bringing two further major global credit funds into our securitization structure not only highlights the growing confidence in our business model, but also provides the financial support needed to accelerate our growth. We also provide fuel and resources to meet growing customer demand and continue to dramatically expand our wallets and market share Our unique capital efficient model turns every £1 raised into more than £25. With this new milestone, we are well positioned to deliver significant value to our shareholders and expand our offering.”
Hugh Courtney, Zilch’s Chief Financial Officer, said: “We are fortunate to be able to meet the pent-up demand for our securitizations as our business has grown rapidly over the past six months. This syndication of facilities means we can move forward with our business with confidence and room to grow.”
This securitization facility marks a pivotal moment for Zilch as it continues to expand its business and provide innovative financial solutions to consumers while maintaining its commitment to robust regulatory standards.
Notes for editors
About Jirhi
Zilch’s vision is to eliminate the high cost of consumer credit. Forever.
Zilch is a multi-award-winning pioneer of the world’s first direct-to-consumer advertising-supported payments network (ASPN). Leveraging a unique vertically integrated first-party data business model, Zilch sets itself apart from the established fintech industry with a lucrative global revenue stream, providing unparalleled benefits to both customers and marketers. bring value. Today, Zilch is revolutionizing the $50 trillion advertising and payments industry by bringing together the best of debit, credit, and savings.
Co-founded by Philip Belamant, Sean O’Connor, and Serge Belamant, Zilch gives millions of customers the freedom to travel anywhere in the world (online or offline) and earn up to 5% cashback when they pay. and debit points rewards. Split payments (“Pay Now”) or interest-free credit repayments over 6 weeks or 3 months. Along the way, Zilch helps customers build a credit profile with major credit bureaus. Within 44 months of its launch in 2020, Zilch had over 4 million registered customers.
In September 2024, four years after its public launch, Zilch achieved first month profit in record time in July 2024, with a revenue run rate of over $130 million, including Revolut, Starling Bank, Monzo, etc. announced that it has aligned itself with European fintech giants. .
In 2023, Zilch launched its own ASPN service. This enables merchants around the world to instantly connect to Zilch’s first-party data, a closed-loop network of millions of high-intent customers, and deliver personalized savings and deals structured around customer habits. , we will be able to offer discounts. daily expenses.
In January 2023, Zilch signs a landmark reporting agreement with the UK’s main credit reference agencies, allowing all adults to build their credit record using interest-free credit rather than high-cost revolving credit products. This has transformed the UK lending ecosystem.
Since April 2020, Zilch has been regulated by the Financial Conduct Authority (FCA) and has obtained a consumer credit license through its regulatory sandbox programme.
Driven by a commitment to innovation and excellence, Zilch is setting new benchmarks for the industry to create a more inclusive and efficient ecosystem, helping millions of users become more effective and transparent. It allows you to create a budget and take control of your financial life.
For more information, please visit www.zilch.com.
Zilch – Ryan Mendy, Chief Communications Officer: comms@zilch.com
Hawthorn – Press and Media Inquiries: zilch@hawthornadvisors.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20241027900689/en/
