Zilch, Klarna rival from UK raises $80M to take on US market

Buy Now Pay Later or BNPL is one of the fastest growing online payments methods in the UK. Companies in this space include some notable names, one of which is the London-based BNPL startup Zilch. The company is one of the fastest-growing BNPL providers in the UK, with thousands of signups a day. It is also the first and only UK FCA regulated BNPL, and it has now raised a notable £57.8 million in its series B funding round. 

USA launch and team expansion

The latest series B funding round for Zilch was led by numerous investors, including Gauss Ventures and M&F Fund. Including the latest funds, the company has managed to raise over £86.7 million in funds and is currently valued at over £361.4. With fresh funds, the startup intends to launch its services in the USA and grow its services further, in the UK. 

Zilch currently has over 80 employees in the UK and plans to double its team size this year. It recently hired some top executives such as Werner Kruger, ex VP of Data Science at Klarna, Monese’s ex-Chief Analytics Officer as their new Chief Data Officer and more recently, Amabel Polglase, ex-Head of Global Clients at Facebook, as Zilch’s Chief Marketing Officer.

“Some of these new hires will be used to build a US presence in anticipation of expansion. With this in mind, at the moment we’re focused on finding the right people that can help us achieve our goals, rather than limiting ourselves to a particular US location – remote working technology means that isn’t a problem anymore,” Belamant notes. 

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