Zilch lands £100m in securitised debt financing ahead of planned IPO
UK-based buy now, pay later (BNPL) firm Zilch has bagged £100 million in securitised debt financing led by Deutsche Bank, as the company gears up for an initial public offering (IPO).
Zilch plans IPO in 2025-26
Zilch, which previously raised £125 million through a Series C round, says the financing will assist the enterprise in creating and launching new products “for a broader base of customers”.
Moreover, the firm’s CEO and co-founder, Philip Belamant, states that with the new cash injection, “we’re poised to triple sales volumes and achieve significant capital efficiencies”.
“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,” adds the company head.
In an interview with CNBC, Belamant disclosed that Zilch pursued a deal with the German bank due to its more flexible terms and the potential to access £150 million in additional credit from various banks. Belamant hinted that the firm is already planning to secure agreements with other banks to secure more debt in the coming months.
In addition, Zilch CFO, Hugh Courtney, remarks that the recent “securitisation represents a major milestone as we work towards an IPO in the future”. Belamant anticipates that the firm will go public within the next 12 to 24 months.
Claiming to be the world’s first direct-to-consumer, ad-subsidised payments network (ASPN), Zilch touts over four million customers and has facilitated over £2.5 billion in commerce since its inception six years ago.
