Zilch plans to use the funds to promote expansion, particularly in the US. Here are the top-line bullets you need to know.
Zilch, a consumer buy now, pay later (BNPL) service, has raised $50M in an extended Series C round.
HOW’S THE COMPANY PERFORMING?
- UK-based Zilch enables consumers to pay for purchases over a 6-week period.
- It reached 2M new customers in the UK within 18 months.
- The company recently launched in the US with over 150K pre-registered customers.
- The company has more than 250 employees across its offices in London, Krakow, and Miami.
WHY DOES THE MARKET MATTER?
- The global buy now, pay later (BNPL) market is expected to reach a value of $90.5B by 2029, growing at a CAGR of 21.7%, according to Fortune Business Insights.
- The rising adoption of e-commerce and online payment methods has contributed to market growth.
- There have been major acquisitions in this space as well, such as Square acquiring AfterPay for $29B.
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