FinTech Zilch is reportedly preparing for a £1.5 billion London IPO – and it could list as early as next year.
The Financial Times, citing insiders familiar with the firm’s plans, claims that the consumer payments platform is lining up investment banks for a potential blockbuster listing.
They said that this month Zilch invited banks to pitch for roles on its planned flotation, although discussions remain in the early stages and may not come to fruition.
Should Europe’s fastest-growing unicorn opt for an IPO in its home city, it would be a huge boost to the London Stock Exchange after several take-private deals were announced.
A further blow to the LSE emerged over the weekend when another long-anticipated listing candidate, neobank Monzo, was reported to have entered discussions with Brazilian giant Nubank’s over a sale – as well as minority stake talks with private equity houses.
Zilch, which is targeting profitability by next year, was valued at $2bn in a fundraising round during the bull market in 2021 and – unlike several of its peers – has managed to maintain that valuation since.
In its last available full-year results it revealed a doubling of revenues to over £110m as it narrowed losses; then in January it acquired Lithuania-based AB Fjord Bank to kickstart its European expansion.
The move provided Zilch with a European banking licence following a £135 million debt-and-equity funding in late 2025.
Zilch, led by founder Philip Belamant (pictured), has the backing of major investors including eBay, which invested in the firm in late 2023.
The firm offers interest-free buy-now pay-later services funded through advertising. It has almost 6m customers, which it connects with thousands of retailers and brands – including the likes of Amazon, eBay, Tesco and Sports Direct.
Zilch told the FT: “After a transformative 12 months for the business, we are fully focused on executing our strategy which is delivering impressive growth, with all strategic options remaining open.”
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