Phillip Belamant Zilch Founder

Zilch is a fintech company founded by CEO Philip Belamant and based in London. Its rapid growth has made it be one of the fastest-growing European unicorns. After its launch in 2019, the company reached one million users within 13 months faster than any other fintech company.

Its unique features and direct-to-consumer approach model have led to significant growth. In November 2021, the company was valued at $2 billion, and now it announced it has over two million users. Many fintech companies face problems of growth due to traditional finance but Zilch has stood out within the disruptive space.

Zilch makes it unique from others by its buy now, pay later method, providing a more standard BNPL service. It allows the consumers to purchase items under installments payments. Focusing on online shopping, Zilch has partnered with various stores offering pay in four plans at 0% APR payments over six weeks.

Connecting with the customers directly, Zilch allows them to use the app anywhere and rewards them for using the app. Customers earn 2% cash back rewards after a full checkout purchase. Zilch Mastercard for Tap and Pay online shopping is flexible leading to a straightforward business model. Tap and Pay enable users to save their Virtual Zilch cards in digital wallets and use them later in-store purchases.

The company has reported 40% of daily sales are processed through Tap and Pay feature.
Philip Belamant explained in an interview, stating that Zilch’s approach has given consumers greater value, visibility, and control over their finances. The feature helps to facilitate continuous purchase benefitting all parties involved.

The company uses the innovative open banking technology to perform the transaction, with more affordability assessments on customers usage accuracy not provided by traditional credit cards. Giving the performance rate Philip Belamant said, the company is gaining more customers daily, with an average of eight times a month customer using Zilch cards. It has over 210 employees and planning to continue providing more payment options.