Fintech firm Zilch has reflected on what they claim was an extraordinary year, and their end-of-year update captures the defining moments of 2024.
From significant milestones to transformative partnerships, Zilch stated that it has been a year of steady growth and “meaningful” progress.
Over the past 12 months, Zilch said it achieved solid results, including:
- 4.5 million customers
- £3.6 billion in sales
- £130 million in annual recurring revenue
- 135% year-on-year growth in sales (just over this past Black Friday and not for the last 12 months)
As Zilch looks ahead to 2025, they extend their gratitude to everyone who has been part of this journey. They are now focused on shaping a “remarkable future.”
“Ad-subsidised payments network (ASPN)” Zilch reported last year in September 2024 that it has generated $130 million or £100 million in revenue as of July while turning the corner on profitability.
The company did not provide information as to how profitable it is (back in September of last year).
The Fintech compares itself to other big name Fintechs like Revolut, Starling Bank and Monzo in regard to its speed of growth. Checkout.com is Zilch’s primary acquiring partner globally. Zilch claims over 4.5 million users.
CEO and co-founder of Zilch, Philip Belamant described the milestone as a game changer while noting that a lot of other firms struggle to become profitable. Belamant claimed that profitability arrived ahead of plan.
“… we’ve doubled our revenue year on year, expanded our team, saved our 4 million customers over half a billion dollars in fees and interest costs, and generated over $3 billion in new sales for merchant partners through our ad-subsidised payments network.”
Zilch said last year that artificial intelligence is boosting its performance as it leverages consumer data.
The company reported converting consumers up to 10x to 20X more than traditional search and social media. Zilch shared that customers now open their Zilch app daily.
Zilch, the Fintech payments innovator of the ad-subsidized payments network (ASPN), announced in October of 2024 the expansion of its securitization facility by an additional £50 million, bringing the total to £150 million.
This investment round includes participation from two of the world’s largest credit funds, alongside lead arranger Deutsche Bank.
The total deal will allow Zilch to support £10 billion in annual commerce and maintain its rapid growth trajectory.