Zilch, a pioneer of the world's first direct-to-consumer, ad-subsidized payments network, has announced a substantial $126 million securitized debt financing arranged by Deutsche Bank. This funding represents a critical milestone in Zilch's accelerated expansion and innovation within the payments sector. Zilch has accomplished astounding milestones in a mere four years, including the processing of over 10 million monthly payments and the attraction of over four million customers. Customers can earn up to 5% cashback and rewards on 'Pay Now' transactions or extend interest-free repayments over six weeks or three months by combining reward-earning debit payments and zero-interest installment offerings via the platform.
Zilch's innovative ad-subsidization model has generated over $3.16 billion in commerce and saved its customers more than $569 million in fees and interest, striving to eliminate the high costs traditionally associated with consumer credit. CEO and Co-Founder Philip Belamant highlighted the strategic importance of the financing deal, “This partnership not only provides an excellent opportunity for debt investors to join in Zilch’s success, but it also enables us to accelerate the rollout of our feature roadmap which will broaden wallet and market share.” With this financing, Zilch is poised to enhance its offerings and continue its momentum in revolutionizing the consumer payments landscape.
