Zilch extends Series B to secure further $110m from Goldman Sachs and DMG Ventures

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Zilch, the London-based fintech, announces it has raised a further $110m of debt and equity funding to service the demand for its ‘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-ups 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 comments: “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.”

Manuel Lopo de Carvalho, CEO 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.”

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