Zilch
About Company
Founders: Philip Belamant, Serge Belamant, and Sean O’Connor
Year Founded: 2019
Location: London, UK
Zilch’s core offering is a service that enables customers to make purchases and pay for them over time through interest-free installments. Users sign up for a Zilch account and receive a virtual payment card they can use to pay at any Mastercard-accepting retailer. Customers pay 25% of the total upfront, with the remaining balance split into 3 equal parts over 6 weeks – a different model from traditional credit cards where balances can accrue interest.Zilch leverages data and technology to assess each customer’s affordability profile in real-time, drawing on credit reference agency information.
This allows the company to provide more personalised credit limits and repayment plans compared to standard BNPL providers.In March 2023, Zilch announced a partnership with open banking platform Yapily to further enhance its credit decisioning capabilities and empower customers to better manage their finances. The collaboration aims to deliver Zilch users with more customised financial choices and improved access to 0% interest credit. To date, Zilch has raised a total of $389.2 million in funding across multiple investment rounds, with backers including eBay Ventures, Tech Nation Future Fifty, Gauss Ventures, and Goldman Sachs Asset Management.
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