British fintech firm Zilch says it’s raised $125 million in debt from Deutsche Bank to help it further its path toward an eventual initial public…
British online payments firm Zilch says it has raised $125 million in debt financing from Deutsche Bank in a deal that will help the company triple sales in the next couple of years and move closer toward an IPO.
"For us, we think it's a major milestone in the company's growing stage, which is, we've gone through the line we have with Goldman, it's been a brilliant relationship and partnership," Belamant told CNBC."But now we're stepping it up to securitization ... so we continue scaling."The additional £150 million of credit will become available to Zilch as the firm continues to grow.
Zilch has already generated over £2.5 billion in GMV since its founding in 2018. The firm reported revenues of £30 million in the 12 months ended March. Losses totaled £71.7 million, marginally down from last year's loss of £78.3 million.
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