Zilch, the UK-based fintech firm, reported a 36 percent increase in annual revenue, reaching £147.5 million for the fiscal year ending March 2026. Despite this growth, the company saw its losses nearly triple, rising from £12.5 million to £35.8 million during the same period.
The company attributed the increased losses to higher customer acquisition and brand-building expenses, alongside larger credit loss provisions due to the introduction of longer-term loans. Gross merchandise value on the platform grew by 28 percent, totaling £2.4 billion, while the annual run rate hit $300 million.
Active user numbers for the platform rose by 21 percent to 970,000, with the average annual spend per customer increasing by six percent to £2,500. Zilch, which offers BNPL services, loans, and debit cards, is currently backed by investors including Goldman Sachs and eBay.
Zilch was last valued at $2 billion during a 2021 funding round. The company reports having achieved two consecutive quarters of adjusted profit before tax. Reports suggest that the fintech is currently selecting investment banks to prepare for a potential IPO as early as next year.
