Zilch secures $110m from Goldman Sachs and DMGT
Ellie Duncan | News
23 Jul 2021
Buy-now-pay-later (BNPL) provider Zilch has raised a further $110 million in Series B funding from Goldman Sachs and Daily Mail owner Daily Mail & General Trust (DMGT).
The startup confirmed on LinkedIn that its latest funding deal is an extension of its Series B financing.
In a LinkedIn post, Zilch said: “It is an incredible honour to have the support of these esteemed institutions on our mission to encourage responsible spending, whilst offering the best way to pay.
“This exciting new development will be instrumental in boosting our media campaign strategy across the UK, expanding our reach to the US, and ultimately shaping the future of Zilch.”
In April this year, London-based Zilch announced it had secured $80 million in a series B funding round, backed by numerous investors including Gauss Ventures and M&F Fund, to help it launch in the US.
Zilch, which was founded by Philip Belamant, is the only fully Financial Conduct Authority (FCA) regulated BNPL in the UK.
It provides an over-the-top (OTT) BNPL product that allows its customers to shop wherever MasterCard is accepted and spread their payment over six weeks for zero interest and zero fees.
