Zilch, the world’s first ad-subsidised payments network (ASPN), has announced a significant £100m securitised debt financing deal arranged by Deutsche Bank.
This new funding is set to propel Zilch’s business expansion and enhance its capability to introduce new products for a wider customer base.
The financing, led by Deutsche Bank, is expected to enable Zilch to triple its sales volume and achieve notable capital efficiencies.
Zilch, which offers a reward-earning debit and zero-interest instalment service, has experienced impressive growth, reaching over 4 million customers and processing more than 10 million monthly payments. The platform has facilitated over £2.5bn in commerce and saved customers more than £450m in fees and interest through its innovative ad-subsidisation model.
Zilch plans to use the new funding to scale its business further and expedite the rollout of its feature roadmap, aiming to broaden its wallet and market share. The company is adding over 100,000 new customers every month and doubling its revenue year over year. This latest financing will support Zilch’s momentum as it continues to drive billions in commerce and significant savings for its customer base.
CEO and Co-Founder Philip Belamant said, “With this new securitisation, we’re poised to triple sales volumes and achieve significant capital efficiencies as we continue to drive billions in commerce to our retail network and, in turn, hundreds of millions in savings and subsidies to our customer base.
“This partnership not only provides an excellent opportunity for debt investors to join in Zilch’s success, but it also enables us to accelerate the rollout of our feature roadmap which will broaden wallet and market share.”
Chief Financial Officer Hugh Courtney added, “We are excited to announce our entry into the securitisation market. Optimising our capital structure and pricing is key to providing our customers with more flexible ways to pay. Deutsche Bank really leant in to find a bespoke solution to match our uniquely capital-efficient model.”
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