- Zilch Technology Ltd is a pioneering financial technology company that specialises in “Buy Now, Pay Later” (BNPL) services.
- Zilch’s BNPL platform is distinguished by its combination of advanced technology and customer-centric design. Unlike conventional BNPL services, Zilch connects directly to customers’ bank accounts, enabling real-time affordability checks and personalised spending limits.
Zilch Technology Ltd is a pioneering financial technology company that specialises in “Buy Now, Pay Later” (BNPL) services. Established in 2018 in London, the company is revolutionising consumer shopping by providing flexible payment options at the point of sale. With a user-friendly app and seamless integration with major retailers, Zilch allows customers to split their purchases into manageable installments without the burden of high-interest credit card debt. The company’s commitment to transparency and affordability has positioned it as a leader in the fintech space, offering a compelling alternative to traditional credit.
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Innovative BNPL platform
Zilch’s BNPL platform is distinguished by its combination of advanced technology and customer-centric design. Unlike conventional BNPL services, Zilch connects directly to customers’ bank accounts, enabling real-time affordability checks and personalised spending limits. This approach enhances the user experience and promotes responsible spending. The platform’s AI-driven algorithms analyse users’ financial behavior, ensuring they are not overextended. By offering interest-free payment plans and clear, upfront terms, Zilch provides a transparent and consumer-friendly alternative to credit cards, attracting a growing user base.
Strategic partnerships and retail integration
Zilch Technology Ltd has forged strategic partnerships with a wide array of retailers, both online and in physical stores. These partnerships enable Zilch users to enjoy flexible payment options at numerous shopping destinations, enhancing their overall shopping experience. By integrating directly with merchants’ payment systems, Zilch ensures a seamless checkout process for customers. The company’s extensive network includes collaborations with popular brands and stores, broadening the appeal and accessibility of its BNPL services. This extensive retail integration is a key factor in Zilch’s rapid growth and market penetration.
Commitment to financial well-being
Promoting financial well-being is one of Zilch Technology Ltd’s core values. The company offers various tools and resources to help customers manage their finances more effectively. These include spending trackers, budget planners, and educational content on responsible borrowing. By empowering users with the knowledge and tools to make informed financial decisions, Zilch aims to reduce financial stress and improve overall financial health. This commitment to financial well-being not only sets Zilch apart from other BNPL providers but also builds trust and loyalty among its user base.
“Consumers who use BNPL get the benefit of spreading grocery payments over three or four installments over a similar four- to six-week period, getting the use of the BNPL provider’s money, for free, over that period is enough of a reward for many consumers, especially when everyone across every income level feels the persistent pinch of food inflation.”
Karen Webster, CEO of PYMNTS
Investment and financing situation
Initial seed funding: Zilch began its journey with solid initial seed funding in 2018, enabling the development of its core technology and the launch of its app. Early investors included venture capital firms and angel investors with a keen interest in fintech.
Series A and B funding rounds: Zilch attracted significant venture capital during its Series A and B rounds, allowing the company to expand its market reach and enhance its technology infrastructure. These rounds saw participation from prominent fintech-focused venture capital firms.
Strategic investments and partnerships: Zilch has benefited from strategic investments and partnerships, enhancing its service offerings and market position. Collaborations with major retailers and financial institutions have been pivotal in integrating Zilch’s BNPL services into diverse retail environments.
Series C funding and beyond: Zilch’s Series C funding round saw substantial contributions from existing and new investors, supporting international expansion, technological advancements, and further scaling of operations. The funding positions Zilch for long-term growth and market leadership.
Future financing prospects: Zilch is poised to explore additional financing opportunities, including future funding rounds and alternative financing options such as debt financing and strategic corporate investments. The focus will remain on securing capital that aligns with the company’s strategic goals and supports its vision of becoming a global leader in BNPL services.
“With this £100 million debt financing deal , we’re poised to triple sales volumes and achieve significant capital efficiencies as we continue to drive billions in commerce to our retail network.”
Philip Belamant, Zilch’s CEO and co-founder.
Examples of Zilch Technology Ltd’s main cooperative relationships
Amazon: Zilch has integrated its BNPL services with Amazon, allowing customers to split their payments for a wide range of products. This partnership enhances the shopping experience for Amazon users, providing a flexible and convenient payment option.
Nike: Zilch’s collaboration with Nike enables customers to purchase sportswear and footwear with manageable installment plans. This integration supports Nike’s goal of providing diverse payment options to its customers, enhancing their shopping experience.
HSBC: Collaborating with HSBC, Zilch leverages the bank’s financial infrastructure for real-time affordability checks and personalized spending limits, promoting responsible lending practices and enhancing customer trust.
Palantir Technologies: Zilch works with Palantir to enhance its data analytics capabilities. By leveraging Palantir’s expertise in big data, Zilch can analyze customer spending patterns and provide tailored financial services.
Omnicom Group: By working with Omnicom Group, Zilch leverages the agency’s marketing expertise to create compelling advertising content and expand its customer base through digital and traditional media channels.
Tesla Foundation: By collaborating with the Tesla Foundation, Zilch supports clean energy initiatives and technological innovation in sustainability. This partnership aligns with Zilch’s commitment to fostering a greener future and appealing to eco-conscious consumers.
