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September 4, 2023

Zilch Rings in its Third Birthday with London Stock Exchange Debut

London's Double Unicorn Marks Remarkable Growth and Savings Milestones, Empowering Savings and Earning Rewards

London, the bustling hub of tech innovation, is buzzing as fintech powerhouse Zilch takes center stage with a remarkable birthday celebration. Today, Zilch proudly unveils its debut on the London Stock Exchange, commemorating three years of trailblazing success. This milestone celebration is fueled by an array of achievements that echo the fintech's rapid ascent, including substantial customer savings, robust trading performance, and a slew of coveted industry awards. These accomplishments collectively resonate with Zilch's mission to revolutionize consumer credit costs.

The curtain rises on this birthday extravaganza amidst news of Zilch crossing the monumental threshold of 3.5 million registered customers. Think about it: over the span of three years since its 2020 launch, that equates to a staggering 3,000 people a day joining the ranks to reap the benefits of its innovative offerings.

The Zilch revolution has flourished through its two dynamic products: the ‘Pay Now’ debit product, which fuels rewards, and the 'Pay in 4 over 6 weeks' credit product that defies interest norms. It's a winning formula that has led Zilch customers to channel over £1.5 billion through its platform. In return, a wealth of £300 million in rewards and savings on interest and late fees have cascaded back into the pockets of its users.

Philip Belamant, CEO and co-founder, couldn't hide his pride, stating, “The journey we've undertaken in merely three years is nothing short of awe-inspiring. We're humbled by the invitation extended by Julia Hoggett, CEO of the London Stock Exchange, to mark this milestone by opening its markets. In a mere 36 months, nearly 10% of the UK's working adult population have embraced us. The numbers speak volumes - our average customer uses Zilch's offerings a remarkable 100 times a year. And this is just the tip of the iceberg."

Sean O’Connor, co-founder, adds to the chorus of celebration, "Our counter-cyclical business model's steadfast performance in challenging market landscapes, combined with our societal impact and growth trajectory, is receiving recognition within institutional capital markets. We're elated to receive the London Stock Exchange's invitation, a global stock market heavyweight, to herald our achievements."

While the Buy Now, Pay Later (BNPL) sector witnesses the reign of giants like Klarna and Clearpay, Zilch, founded by Philip Belamant, has etched its unique identity in London. The fintech's proposition allows users to stretch their payments over six weeks sans fees or interest. Adding to its arsenal of innovation, Zilch unveils its proprietary Ad-Subsidised-Payments Network (ASPN), a platform that facilitates real-time engagement between retailers and Zilch's treasure trove of first-party data. It's a closed-loop network that serves as a high-intent customer conduit, channeling personalized savings, deals, and discounts aligned with their habitual spending patterns.

Earlier this year, Zilch set a new industry bar by partnering with the UK's prime credit reference agencies. This transformative move reshapes the UK's lending ecosystem, offering over 50 million adults the chance to build their credit profiles using interest-free credit instead of high-cost revolving credit products.

Josefina Dipaolo
Josefina Dipaolo
Content Writer at TechNews180
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