UK-based fintech firm, Zilch, has secured a substantial $125 million debt-financing agreement from Deutsche Bank. This deal strengthens Zilch’s foothold in the market and extends its unique “buy now, pay later” services to a wider global customer base.
The strategic partnership aims to triple Zilch’s sales and move it closer to an initial public offering (IPO). The ultimate target is not merely to enhance sales but to elevate Zilch’s market presence and value for a comprehensive growth approach.
Zilch has presented the debt-financing agreement as a securitisation, hinting at the potential for pooled loans. This innovative approach showcases Zilch’s commitment to diversifying their financial portfolio and enhancing liquidity.
The agreement equips Zilch with an enormous credit maximum of $315 million.
Zilch secures significant financing boost
The considerable funding can be harnessed for various business operations as per Zilch’s needs. This significant safety net promises to bolster the company’s endeavours.
Previously, Zilch relied on a private lending group for its payment plans. However, the recent partnership with Deutsche Bank carries more flexible terms that meet Zilch’s growing finance requirements. This transition also signifies Deutsche Bank’s faith in Zilch’s business model and future.
As per Philip Belamant, Zilch’s CEO, this agreement is a milestone in the company’s evolution, propelling them into the “big leagues”. He perceives this transformative moment as proof of the company’s ongoing progress, propping them onto a larger stage in the business world.
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