Zilch Technology Secures £ 79.9m Series B Follow-on Investment from Goldman Sachs Asset Management – ​​UK Tech Investment News

Zilch Raises An Additional $ 110 Million From Goldman Sachs Asset Management and DMG Ventures

  • The Series B expansion combines debt and capital to provide Zirchi with an additional $ 110 million in funding.
  • Zilch is one of the UK’s first “buy now, pay later” apps regulated by the Financial Conduct Authority.

London, [23rd July, 2021] – – JirchiLondon-based FinTech continues to grow in usage, adding another 110 million to meet the incredible demand for its own “buy now, pay later” (BNPL) product. Announced that it has raised dollar debt and equity funding.

The latest funding comes from Goldman Sachs Asset Management, DMG Ventures (Daily Mail and General Trust plc’s Venture Capital Division) and more. With this investment, Zirch will be able to further accelerate its growth with a national media campaign in the United Kingdom and launch of services in the United States.

Zilch’s latest round will be one of the most funded European fintech startups on the Series B stage.

Zilch Founder and CEO, Philip Belamant,

“As the number of customers continues to grow, we have decided to raise additional capital to meet this tremendous demand. Zilch continues to accelerate and is respected by Goldman Sachs and DMG Ventures. We are pleased that our institutions share a vision of what credits they should make in today’s world and how to deliver them directly to their customers in the most responsible way. By thinking and building direct relationships with each other, we are doing something no one else in the industry has ever done. ”

Zilch is committed to providing its clients with the ability to responsibly manage cash flow and is one of the first fully regulated BNPL providers in the UK. Investment, including debt from the private credit business within Goldman Sachs Asset Management, will accelerate Zirchi’s expansion plans.

Goldman Sachs Asset Management Executive Director Pankaisoni,

“We have been tracking Zirchi’s progress over the last 12 months and have been impressed with the differentiated and direct consumer approach the company has adopted to build its products. We are delighted to be able to support our growth and look forward to building our relationship over the next few years. ”

Zilch is the first true over-the-top (OTT) BNPL product that allows customers to shop wherever MasterCard is accepted and distribute payments interest-free and fee-free for six weeks. This lightweight direct-to-consumer model allows Zilch to build direct relationships with its customers. Zilch is currently the most acclaimed product of its kind on Trustpilot, and because its deployment strategy is not restricted by borders or borders, it can scale significantly faster than its competitors. Acquire and integrate merchants.

Manuel Lopo de Carvalho, CEO DMG Ventures,

“”We are pleased to support Philip and the team and participate as an investor in Zirchi. The pace of what they have achieved is staggering – the level of recruitment that Zirch saw this year alone is noteworthy. We are pleased to have a clear opportunity to provide UK consumers with more accessible and responsible credit and to help spread the Zilch brand and message to UK customers across the country... ”

This funding round follows a series of announcements from Zilch, including the latest unique feature, Tap and Pay-over-time. FinTech aims to be the largest BNPL player in the UK without the hassle of bar / QR codes for customers.

Zilch is built responsibly, providing transparency, combining Open Banking technology with soft credit checks to gain real-time understanding and understanding of consumer affordability profiles and what they can buy. It is the only player in the industry to accurately recommend. , Prevent problematic debt.

For more information, please visit: https://www.payzilch.com/

— Finish —


Zilch is FinTech’s darling in the UK. Born in London, its unique over-the-top platform is the first in the fast-growing Buy Now, Pay Later (BNPL) space. Zilch eliminates credit-related concerns by being accountable to its customers. Proprietary data-driven credit valuation technology focuses on optimizing user cash flow while preventing excess debt. The company is growing at an alarming rate with a surge in monthly registrations, making it the fastest growing BNPL in the UK.

Unlike other players in the BNPL space, Zilch’s merchant-agnostic suggestions allow users to shop anywhere they like, giving them unlimited access to the entire online retail space. Want to buy? Jiruchi!

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Zilch Technology Secures £ 79.9m Series B Follow-on Investment from Goldman Sachs Asset Management – ​​UK Tech Investment News

Source link Zilch Technology Secures £ 79.9m Series B Follow-on Investment from Goldman Sachs Asset Management – ​​UK Tech Investment News

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