Zilch, the London-founded consumer credit fintech, has taken a concrete step toward going public by inviting investment banks to compete for advisory roles on a possible stock market debut as early as 2027.
The move, reported in late September 2026, would represent a notable boost for the London Stock Exchange after years of declining listings and a string of takeovers that have reduced the number of quoted UK companies.
The company, which offers interest-free instalment loans, buy-now-pay-later products and a cashback debit card, asked banks this month to pitch for work on a planned flotation.
People familiar with the process stressed that talks remain at an early stage and that the timetable or venue could still change.
London is currently viewed as the preferred location, though New York and other European exchanges have not been ruled out.Zilch has long been discussed as a potential listing candidate.
It reached a $2 billion valuation in a 2021 funding round during a more exuberant period for fintech and has held that figure in later raises, including a 2025 round.
Advisers close to the current discussions, however, caution that a public offering is unlikely to match that peak private-market valuation.Financially the group has narrowed losses sharply.
In the year to March 2025 it reported a £10.5 million loss, down from £50 million the previous year, while revenue almost doubled to £110.3 million. Management is targeting profitability by the time any listing occurs.
The company, which serves roughly six million customers, also generates income from targeted advertising based on transaction data.
Backers include Goldman Sachs, Deutsche Bank, eBay Ventures and the venture arm of Daily Mail owner DMG.
Chief executive and co-founder Philip Belamant has previously spoken about the importance of UK market reforms, including greater pension-fund participation in growth companies and incentives for retail investors, as conditions that would make a London listing more attractive.
A spokesperson for Zilch said the firm is focused on executing its growth strategy after a strong 12 months and that “all strategic options remain open.”
The invitation to banks is nevertheless seen as the most tangible progress yet toward a public listing for one of Britain’s better-known fintechs.
If the flotation proceeds in London it would add a high-profile name to an exchange that has actively courted Zilch alongside other UK digital lenders and neobanks. It remains to be seen if the company ultimately chooses the LSE, or looks elsewhere. It will depend on market conditions, regulatory developments and its own path to consistent profitability.
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