Zilch
Zilch is a UK-founded, AWS-native fintech operating a direct-to-consumer ad-subsidised payments network that provides interest-free buy-now-pay-later credit to 6M+ UK and US consumers via mobile app and Visa cards, monetising through retailer performance fees on its proprietary ASPN platform and a £3.99/month subscription.
- Company typePrivate
- Founded2018
- HeadquartersLondon, United Kingdom
- Headcount251–500
- GTM typeB2C
- OfferingServices
What Zilch does
Zilch Technology Limited is a UK-headquartered fintech founded in 2018 by Philip Belamant and Sean O'Connor, operating a direct-to-consumer ad-subsidised payments network that combines a mobile-first buy-now-pay-later (BNPL) credit product with a proprietary advertising-funded monetisation model. The platform serves UK and US mass-market consumers through the Zilch mobile app, a Visa-branded physical card (since June 2025), Apple Pay and Google Pay tokenisation, and a UK Mastercard-rail offering in the US operated by Zilch USA, Inc. in partnership with Cross River Bank. Core products include 'Pay now' (with up to 5% Zilch Rewards), 'Pay over 6 weeks' (0% interest BNPL), the regulated 'Pay over 3 months' credit product, and engagement modules such as Snooze, Limit Builder, Credit Builder, Boost and Referral. On the B2B side, Zilch operates the Ad-Subsidised Payments Network (ASPN) — opened to third parties via APIs in 2023 — which connects 5,000+ retailers (e.g., eBay, Morrisons, Iceland, TUI, Nike, Adidas) to Zilch's high-intent consumer base on a performance-fee basis and powers the newer Zilch Intelligent Commerce AI platform.
The technology stack is AWS-native and AI-first: Zilch has run on AWS since inception, uses SageMaker and Bedrock for machine learning and generative AI, performs real-time affordability and credit decisions in milliseconds (aligned with incoming July 2026 UK BNPL regulation), ingests roughly 10x more data than prior systems into fraud and underwriting models, and processes nearly half a billion payments and over £5bn in commerce to date. Card processing runs on Visa Principal Membership (UK, secured December 2025) and Mastercard rails (US); issuer processing is handled by Thredd, global acquiring by Checkout.com, identity verification by Onfido, and Open Banking repayments by Plaid. The company is PCI DSS Level 1, ISO/IEC 27001, SOC 2 ISAE 3000 Type 2 and Cyber Essentials certified.
Zilch monetises through five streams: (1) retailer and advertiser performance fees via ASPN, (2) the £3.99/month Zilch Plus consumer subscription, (3) small usage-based transaction fees (e.g., $3 for US purchases over $10 outside the app, £1.50 Snooze extensions, £4.99 Plus physical card), (4) interchange and lender-partner economics via Cross River Bank (US) and the Deutsche Bank-led securitisation facilities (£150M+), and (5) affiliate network revenue through Awin, Quidco, Viglink and CJ. The proprietary ASPN model is structurally differentiated from Klarna, Affirm and Afterpay because consumer credit is subsidised by retailer advertising rather than consumer interest. As of January 2026, Zilch reported $200M in annual revenue, 6M+ customers, a $2B valuation maintained since 2021, profitability achieved in October 2024, and is preparing for a potential 2026 London IPO while expanding into continental Europe via the pending acquisition of Lithuania's AB Fjord Bank.
Zilch firmographics
Firmographics- Name
- Zilch
- Legal name
- Zilch Technology Limited
- Website
- https://zilch.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Zilch is a UK-founded, AWS-native fintech operating a direct-to-consumer ad-subsidised payments network that provides interest-free buy-now-pay-later credit to 6M+ UK and US consumers via mobile app and Visa cards, monetising through retailer performance fees on its proprietary ASPN platform and a £3.99/month subscription.
- Ownership category
- akta.pro rank
Zilch industry classification
Industry- Product category
- Buy Now Pay Later (Consumer Payments)
- NAICS
- Sales Financing (52222)
- akta.pro primary industry
- BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG)
- akta.pro secondary industry
- Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA)
Keywords
Where Zilch is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
Zilch business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Retailer / advertiser fees (ASPN): Performance-based and advertising fees paid by retailers and brand partners using Zilch's Ad-Subsidised Payments Network. Retailers pay on a performance/commission basis (only when customers purchase), making this a transaction-fee and advertising-funded model rather than consumer interest income.
- Consumer subscription (Zilch Plus): Recurring £3.99/month subscription for Zilch Plus plan, unlocking higher Rewards (up to 6% Pay now, up to 1% in-app, up to 0.25% everywhere), priority customer support, tastecard membership and other perks. Free tier (Zilch Standard) is the default.
- Transaction fees & small charges on credit usage: Small upfront fees on certain Pay-in-4 transactions outside the in-app ecosystem (e.g., £1.50 on later Snooze extensions), Zilch Anywhere fees, and a $3 fee for purchases over $10 in the US when shopping outside in-app retailers. Card fee of £4.99 applies to Plus plan physical cards.
- Interest-free credit economics (no consumer interest): Zilch does not charge interest on consumer credit balances; its lending economics instead rely on interchange, retailer fees, and lender/bank partner economics (Cross River Bank for US loans).
- Affiliated advertising & network revenue: Affiliate and partner network revenue via integration with networks including Awin, Quidco, Viglink, and CJ — leveraging Zilch's high-intent customer base as an advertising channel.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Zilch Standard — Free base plan with Pay now (up to 5% Rewards), Pay over 6 weeks and Pay over 3 months; credit from £50–£4,500; from 14.9% APR Rep. |
| Subscription | Monthly | Zilch Plus — £3.99/month subscription with enhanced Rewards (up to 6% Pay now, up to 1% in-app pay-over-time, up to 0.25% everywhere), priority customer support, tastecard membership, plus a £4.99 card fee for the physical card. |
| Other | Pay-as-you-go | Zilch Extra / Pro / Ultimate / Business — Coming soon (pricing not yet disclosed publicly). |
| Other | Pay-as-you-go | US Pay over 6 weeks — 0% APR with a $3 fee on purchases over $10 outside the Zilch app; 25% or 50% upfront, remainder in three biweekly instalments. |
Go-to-market motion1 record
Distribution channels7 records
Marketing channels10 records
Zilch product offering
Product offeringCore offering
Zilch operates a direct-to-consumer ad-subsidised payments network delivered through a mobile app, offering interest-free Buy Now Pay Later (BNPL) credit — Pay over 6 weeks and the regulated Pay over 3 months — alongside a debit-style Pay now option that returns up to 5% in Zilch Rewards. Its proprietary Ad-Subsidised Payments Network (ASPN) subsidises consumer credit with retailer and advertiser fees rather than consumer interest, and the platform is increasingly monetising through Zilch Intelligent Commerce, an AI-powered retailer data intelligence product, with a one-click Zilch Pay checkout launching in H1 2026.
Product overview
Zilch operates a single unified consumer payments platform that bundles a core mobile app with a portfolio of credit, payment, rewards, retail-media, and AI-driven modules, rather than selling standalone products. The Zilch App sits at the centre, surfacing the debit-style 'Pay now' (with up to 5% Zilch Rewards), the BNPL credit products 'Pay over 6 weeks' and the regulated 'Pay over 3 months', plus features like Snooze, Limit Builder, Credit Builder, Boost, Voucher Codes, Referral, and Insurance. Customer-facing monetisation and ad-subsidisation are powered by the proprietary Ad-Subsidised Payments Network (ASPN), now opening to third parties via APIs, and by the AI-driven Intelligent Commerce data platform for retailers. Newer/roadmap offerings include the upcoming one-click Zilch Pay checkout (H1 2026), the Visa Flexible Credential partnership on Zilch cards, the physical Visa card, Zilch Travel (powered by lastminute.com), the early-wage Advance, Pay over 6 or 12 months, and subscription tiers Zilch Standard and Zilch Plus (with Extra, Pro, Ultimate and Business tiers announced as coming soon).
Differentiator
Problem solved
Functional benefit
Brands
- Zilch X: One of Zilch's UK product plans/tiers
- Zilch Classic
- Zilch Up
- Zilch Standard
- Zilch Plus
- Zilch Pay
- Zilch Intelligent Commerce
- Zilch Travel
Products and services
- Zilch App The core mobile application delivering Zilch's Buy Now Pay Later (BNPL) and ad-subsidised payments platform across the UK and US, providing access to all credit, payment, rewards, and retailer marketplace features.
- Pay now Pay in full at checkout via the Zilch card with up to 5% back in Zilch Rewards (2% back in the US); customers can also Tap and Pay to earn 0.5% back. Operates as Zilch's debit-style offering.
- Pay over 6 weeks (Pay in 4) Core BNPL credit product paying 25% or 50% upfront and the rest split across three biweekly instalments over six weeks, interest-free at thousands of online stores via the Zilch app.
- Pay over 3 months Interest-free regulated credit product giving customers more flexibility to spread costs over three months, launched as part of Zilch's expansion into longer-term regulated credit.
- Zilch Rewards Instant cashback Rewards programme that pays customers up to 5% back when paying in full with Zilch (up to 2% in the US); Rewards can be spent immediately or saved for future purchases.
- Zilch Intelligent Commerce AI-powered data intelligence platform that delivers real-time retail personalisation, advertising ROI insights, and customer behaviour analytics for retailers. Described as one of Zilch's fastest-growing revenue streams.
- Zilch Pay One-click checkout solution slated for H1 2026 launch, leveraging Zilch's FCA-licensed status and Visa partnership to streamline online payments.
- Ad-Subsidised Payments Network (ASPN) Zilch's proprietary ad-sales and payments platform that subsidises consumer credit through advertising revenue, offered to third parties via open APIs to connect retailers with primed-to-purchase customers.
- Zilch Travel White-label travel solution powered by lastminute.com, providing online travel and leisure booking services within the Zilch app.
- Zilch Standard Free starter plan providing the essentials of the Zilch product suite, including virtual card access, Pay now, Pay over 6 weeks, and basic Rewards.
- Zilch Plus Paid monthly plan (£3.99/month) offering enhanced Rewards, priority customer support, tastecard membership benefits, and broader Rewards percentages across in-app and out-of-app spending.
- Zilch Physical Card First physical Visa-branded payments card launched via the Visa partnership, enabling Tap and Pay acceptance at 150+ million merchant locations worldwide.
Companies that use Zilch
Customer profileNamed customers23 records
Segments5 records
Ideal customer profiles3 records
Zilch technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability12 records
Feature7 records
Zilch partnerships and signals
Strategic signalPartnerships
20 partnerships are on record, tiered core, flagship and minor.
- Dame Clare Barclay DBEcoreMicrosoft veteran Dame Clare Barclay DBE appointed to Zilch's Board of Directors. Barclay spent nearly three decades at Microsoft and is Microsoft's president of enterprise and industry for EMEA. She joins amid Zilch's international expansion including the pending Fjord Bank acquisition.
- ThreddcoreMulti-year issuer processing partnership. Thredd powers Zilch's card program, including the Visa Flexible Credential across debit, credit and BNPL on a single card. Zilch renewed its partnership with Thredd in 2024 to drive billions in commerce.
- AB Fjord Bank (Lithuania)flagshipAcquisition agreement signed to acquire 100% of AB Fjord Bank — a Lithuania-based challenger bank regulated by the Bank of Lithuania and the ECB. Provides Zilch with a European banking licence for passporting services across the EEA. Vilnius will become Zilch's European HQ. Deal expected to close H2 2026.
- Arsenal Football ClubflagshipMulti-year Official Payment Partner deal — Zilch becomes the 'official way to pay' for Arsenal, offering payment options and supporter benefits (discounts, tickets, exclusive experiences). Zilch's first sports sponsorship.
- PlaidcoreOpen Banking partnership enabling direct bank-account repayments on Zilch's platform. Improves reconciliation and supports future Open Banking-driven features as adoption grows in the UK.
- VisaflagshipMulti-year strategic partnership. Visa Principal Membership secured for the first time (Dec 2025), Visa Flexible Credential launched on Zilch UK cards (May 2026) with Thredd as issuer processor, and a physical card rolled out at Money20/20 Amsterdam. The partnership unlocks 150M+ merchants worldwide and underpins Zilch Pay / Intelligent Commerce plans, including collaboration on agentic commerce and stablecoin-related opportunities.
- lastminute.comcorePowers Zilch Travel — Zilch's white-label travel solution offering online travel and leisure services to Zilch customers, leveraging lastminute.com's inventory.
- Amazon Web Services (AWS)flagshipDeep, multi-year strategic cloud and AI collaboration. Zilch has run on AWS since its inception ('born in the cloud'), using SageMaker and Bedrock for ML/GenAI. The collaboration accelerates fraud detection, credit underwriting and the Intelligent Commerce platform — ingesting 10x more data and reducing model build/deploy cycles from weeks to days.
- eBay (eBay Ventures)flagshipeBay Ventures invested in Zilch at a $2B valuation in October 2023, taking a stake in the company. eBay is also a major retail partner (featured Zilch merchant) and co-marketing collaborator, including the 'Christmas Zilch List' campaign with eBay.
- NepFincoreZilch acquired US commercial lender NepFin on 11 August 2021 to support its US expansion and licensing efforts.
- Cross River BankflagshipUS lending partnership: payment options offered by Zilch USA, Inc. in partnership with Cross River Bank, Member FDIC. Loans through Zilch USA, Inc. are made by Cross River Bank, which issues the Zilch credit product to US consumers.
- Checkout.comcoreMulti-year contract with Checkout.com for global acquiring — supercharging Zilch's financial infrastructure for international expansion.
- StepChange Debt CharityminorPartnership with debt charity StepChange to continue leading the way in responsible lending.
- OnfidocoreIdentity verification partnership — Zilch shares identity documents and selfies with Onfido for biometric identity verification and fraud prevention (facial recognition, ID authentication).
- Affiliate networks (Awin, Quidco, Viglink, CJ)coreDistribution and affiliate network partnerships with Awin (Zilch named in Awin Power 100 2023 and 2022), Quidco, Viglink, and CJ — sharing transaction data and receiving affiliate network data to fuel performance marketing.
- Financial Technology Association (FTA)minorZilch joined the Financial Technology Association (FTA) to strengthen its voice in fintech policy and innovation.
- Unicorn Council for UK Fintech (UCFT)coreZilch founded the first-ever Unicorn Council for UK Fintech (UCFT), which has published six key policy recommendations to maintain the UK's leading global position in fintech.
- APMA (Affiliate & Performance Marketing Association)minorZilch affirmed commitment to affiliate innovation with APMA membership amid growth of its Ad-Subsidised Payments Network (ASPN).
- Apple (Apple Pay)coreZilch cards added to Apple Pay with a 'Paying Over Time on Apple Pay' feature — Apple provides technical services, while lending/payment services are provided by the card issuer and lending provider (Zilch and partners). Available on iPhone and iPad with software requirements.
- Bird & BirdminorBird & Bird advised KKCG as lead investor in Zilch's $175M fundraise (November 2025).
Scale indicators11 records
Recent moves11 records
Expansion highlights8 records
Zilch competitors and assessment
Company assessmentDirect peers
- Klarna: Global BNPL leader with Pay-in-4 and longer-term instalment products in the UK, US and EU. Closest direct competitor to Zilch in UK BNPL market and competes for the same retailers and consumers, though with a much larger scale and broader product suite.
- Affirm: US-listed BNPL provider (NASDAQ: AFRM) offering Pay-in-4 and Pay-over-time products at major US retailers. Direct competitor to Zilch USA's Pay-over-6-weeks offering, with deeper US merchant integrations (e.g., Shopify, Amazon).
- Clearpay (Block): UK-focused BNPL brand owned by Block, serving the same UK consumer and merchant segments as Zilch with Pay-in-4 mechanics. Closest UK-only direct competitor with established retailer relationships and brand recognition.
- Splitit: Instalment payments provider focused on credit-card-based Pay-over-time at online checkout. Competes with Zilch for retailer pay-over-time integrations and offers an alternative consumer credit mechanism.
- Sezzle: US-listed BNPL provider (NASDAQ: SEZL) offering Pay-in-4 and longer-term instalments in the US and Canada. Smaller-scope direct peer competing with Zilch USA in the US BNPL market, with overlapping target retailers and consumers.
Broad incumbents
- Block (Afterpay / Cash App): Owner of Afterpay and Cash App; Afterpay is a leading global BNPL provider and direct competitor, while Cash App Afterpay expands US distribution. Significantly larger and more diversified than Zilch, with embedded checkout at scale.
- PayPal Pay in 4 / PayPal Pay Monthly: PayPal's instalment credit products embedded directly into PayPal and Venmo checkout. A scaled, broad incumbent competitor with massive built-in merchant acceptance and zero consumer acquisition friction — overlapping with Zilch at point of sale.
- Revolut: UK-headquartered global fintech with 40M+ customers offering cards, payments, and increasingly BNPL-style features within its super-app. Comparable in scale, geography and target customer, with a broader product suite that increasingly overlaps with Zilch's card + credit + rewards proposition.
- Monzo: Major UK digital bank with ~7M customers, offering overdrafts, loans and instalment features. Adjacent rather than direct competitor, but increasingly intersects with Zilch's mass-market UK consumer credit and payments positioning.
Emerging players
- Curve: UK all-in-one card consolidator that fronts multiple underlying cards behind one credential. Conceptually adjacent to Zilch's Visa Flexible Credential multi-rail strategy and competes for similar card-centric UK consumer mindshare.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Zilch social profiles
Digital presenceZilch financial estimates
Financial estimateRevenue estimate
Valuation estimate
Zilch leadership team
Management profileNumber of profiles
Profiles17 records
Zilch subsidiaries and ownership
Company hierarchySubsidiaries3 records
Zilch funding detail
Funding detailFunding overview
Funding rounds13 records
Investors11 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Zilch M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Zilch
What does Zilch do?
Zilch operates a direct-to-consumer ad-subsidised payments network delivered through a mobile app, offering interest-free Buy Now Pay Later (BNPL) credit — Pay over 6 weeks and the regulated Pay over 3 months — alongside a debit-style Pay now option that returns up to 5% in Zilch Rewards. Its proprietary Ad-Subsidised Payments Network (ASPN) subsidises consumer credit with retailer and advertiser fees rather than consumer interest, and the platform is increasingly monetising through Zilch Intelligent Commerce, an AI-powered retailer data intelligence product, with a one-click Zilch Pay checkout launching in H1 2026.
Is Zilch a public or private company?
Zilch is a private company. It is classified as venture growth investor backed and is currently operating.
When was Zilch founded?
Zilch was founded in 2018. It employs 251 to 500 people.
Where is Zilch based?
Zilch is headquartered in London, United Kingdom, in the Europe region.
How does Zilch make money?
Five revenue lines are on record. Retailer / advertiser fees (ASPN) is the primary driver. The others are consumer subscription (Zilch Plus), transaction fees & small charges on credit usage, interest-free credit economics (no consumer interest) and affiliated advertising & network revenue.
Who are Zilch's main competitors?
Direct peers on record are Klarna, Affirm, Clearpay (Block), Splitit and Sezzle. Broad incumbents are Block (Afterpay / Cash App), PayPal Pay in 4 / PayPal Pay Monthly, Revolut and Monzo. Curve is listed as an emerging player.
Does Zilch have an API?
Yes. Zilch has announced the rollout of its Ad-Subsidised Payments Network (ASPN) to third parties through open APIs, enabling external access to its advertising and payments marketplace. The ASPN offers performance-based marketing and checkout infrastructure. Specific REST/GraphQL details, authentication methods, rate limits, and sandbox availability are not specified. Developer documentation is at www.zilch.com/uk/retailer-solutions.
What industry is Zilch in?
Zilch's product category is Buy Now Pay Later (Consumer Payments). Its primary akta.pro industry code is FSAGAIAG, BNPL Consumer Apps & Wallets (Discovery, Management), with a secondary code of FSAGAIAA, Merchant-Integrated BNPL (Checkout POS Financing). Its NAICS code is 52222.