According to EU-Startups, London-based payments platform Zilch has secured over €150 million in combined debt and equity funding to accelerate its growth across the UK and EMEA markets. The round was led by KKCG with participation from BNF Capital and other strategic investors, while Deutsche Bank expanded the company’s securitization facility. CEO Philip Belamant stated this funding reflects strong confidence in their team and strategy, enabling continued rapid scaling of their consumer payments platform. Zilch now boasts over 5.3 million registered customers who use the service nearly 60 times per year on average, having processed over €4.3 billion in commerce volume. The company plans to use the fresh capital for increased marketing spend, product development, platform enhancements, and exploring strategic M&A opportunities.
The bigger funding picture
Here’s what’s interesting about this raise – it’s happening against a backdrop where many fintech companies are struggling to secure funding. EU-Startups notes several other European payments rounds this year, including Navro’s €36 million Series B, Payrails’ €27.7 million Series A, and Fnality’s €115 million Series C. But Zilch’s €150 million stands out as one of the larger announcements in a cohort totaling roughly €310 million across comparable companies. Basically, while money is still flowing into payments infrastructure, it’s becoming more concentrated in players that can demonstrate real traction.
Zilch’s impressive trajectory
Look, Zilch isn’t some newcomer figuring things out. The company launched in 2020 with a mission to eliminate high-cost credit, and they’ve been on a funding tear ever since. EU-Startups has documented their progression through multiple rounds – €66.7 million in 2021, followed by €93.4 million later that year, then €95 million in their Series C that made them Europe’s fastest “double unicorn,” and another €47.9 million in 2022. Now this €150 million round suggests they’re not slowing down despite the tougher funding environment. Their secret sauce? Apparently it’s connecting users with major retailers like Amazon, eBay, and Tesco while delivering personalized rewards and benefits.
Where does Zilch go from here?
With this war chest, Zilch is clearly planning something bigger than just incremental growth. The mention of strategic M&A opportunities is particularly telling – we might see them acquiring complementary technology or even smaller competitors to accelerate their roadmap. They’ve also been rolling out new products, including their recently launched Zilch Pay platform that aims to power their next growth phase. The real question is whether they can maintain their momentum as regulatory scrutiny around BNPL intensifies and consumer spending patterns shift. But with 5.3 million customers and processing billions in commerce, they’ve certainly built a substantial foundation to work from.
What this means for fintech
Zilch’s successful raise sends a clear signal: investors still believe in the payments space, but they’re becoming much more selective. As CFO Hugh Courtney noted, their ability to attract “world-class investors at a time when many remain highly selective” speaks volumes about their business model’s perceived strength. We’re likely seeing a flight to quality where proven players with diversified revenue streams and engaged user bases continue getting funded, while newer entrants struggle. The days of easy money for any fintech with a vaguely interesting idea are definitely over. But for companies that can demonstrate real customer love and sustainable economics? The funding taps haven’t completely closed.
