Zilch sees revenues uplift but losses increase
Zilch, the UK fintech reportedly gearing up for an IPO, has reported a 36 per cent increase in full-year revenues to £147.5m, but losses swelled almost three-fold to £35.9m, its latest financial figur...
UK fintech company Zilch reported a 36% increase in revenues to £147.5 million for the full year ending March 2026, but its losses more than tripled to £35.9 million, according to its latest financial figures. Zilch CEO Philip Belamant described the year as "a foundational one for the fintech," as the company aims for an IPO. Zilch, which provides various lending products, a buy now pay later (BNPL) service, and a debit card, achieved an annual run rate of $300 million.
The company's gross merchandise value (GMV) rose 28% to £2.4 billion. However, losses widened from £12.5 million to £35.8 million due to increased costs related to customer acquisition, brand building, and credit loss provisions as Zilch took on longer-term loans. Active user numbers increased by 21% to 970,000, while average annual spend per active customer rose 6% to £2,500.
Backed by Goldman Sachs and eBay, Zilch was valued at $2 billion during a 2021 funding round and generates revenue through fees and advertiser-subsidized services.
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