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Zilch Considering IPO in 2025, Talking With IPO Venues

Zilch

British buy now, pay later (BNPL) provider Zilch Technology is reportedly considering launching an initial public offering (IPO) in 2025. 

Zilch has not selected a venue for an IPO but has talked with Nasdaq, the New York Stock Exchange (NYSE) and the London Stock Exchange (LSE), Zilch CEO Philip Belamant told Bloomberg, per a report posted Friday (March 15).

Belamant also told the media outlet that Zilch expects to become cashflow positive within months and to be profitable on a monthly basis as soon as April, according to the report.

Zilch serves about 4 million customers, is opening its advertising sales platform to third parties and is looking at offering longer-term loans, the report said. The company was valued at $2 billion in a 2022 funding round. 

It was reported in September that Zilch was exploring options for an IPO. At the time, company executives had made an appearance at the LSE to celebrate Zilch’s third anniversary.

In a recent move, Zilch said in February that it launched a new credit payment product that lets customers stretch interest-free repayments for larger purchases over three months. At the time, this “Pay over 3 months” product had already been tested with around 100,000 Zilch customers.

“Today’s product launch moves Zilch closer to our end game of capturing total share of wallet,” Belamant said at the time. “This new payment option is tailored for significant purchases or emergency moments, such as buying electronics, car tyres or home repairs like when a boiler breaks.”

In October, the firm launched a new credit product called Zilch Up to empower individuals who are typically excluded from mainstream credit. This product starts with credit limits as low as 50 pounds (about $61) and includes tools to help customers enhance their credit scores and increase their credit limits.

Creating ongoing and consistent value for customers is what makes Zilch’s BNPL product unique from other players in the field, Belamant told PYMNTS in an interview posted in February 2022. He added that consumer protection has been a top priority since the company’s launch and that regulators’ interest in the BNPL space is a “good thing.”