London-headquartered financial technology firm, Zilch, has issued a statement today announcing the close of a new €95 million Series C funding round. This new raise brings the firm’s total valuation to €1.7 billion.
The fintech firm is currently ranked as the fastest growing company in Europe to attain unicorn status. The firm took a leap from its Series A to unicorn status in just 14 months. This latest financing effort was led by Ventura Capital and Gauss Ventures, with participation from several other notable investors, most of whom have been backers in other rounds during the company’s growth, such as Goldman Sachs.
With a value proposition that simply revamps the Buy Now, Pay Later (BNPL) space, Zilch provides a unique over-the-top platform that is the first of its kind, and utilizes sophisticated Open Banking Technology that ensures the firm only lends a user what they can afford to pay back, curbing the problem of bad debt.
Operationally, the startup is also growing at the speed of light, with over 185,000 new customers registering per month. This makes it one of the fastest-growing BNPL businesses in the UK.
Zilch opened its Series A funding round in September 2020, and has since leapfrogged other high-flying scale-ups to become a double unicorn in just 14 months, faster than any other in the Europe.
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