London-based Zilch Technology has expanded its debt facilities by £165m, taking the total commitment available to the company to £395m.
The facilities were led by Deutsche Bank, with participation from two of the world’s largest credit funds, Zilch said.
Zilch said the expanded facilities will enable it to originate up to £6bn in lending annually.
The company said that means greater capacity to support its growing customer base and to meet demand for products such as Pay Monthly.
Pay Monthly lets qualifying customers spread the cost of larger purchases over three, six or 12 months.
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Zilch said average annual spend per active customer has reached £2,500 and its GMV run rate has passed £3.5bn.
The company said this makes Zilch an everyday way to pay for more of its customers.
Zilch said the latest funding commitment supports its next stage of growth as it continues building what it called more rewarding ways to pay.
In September we reported that Zilch is said to be preparing for a £1.5 billion London IPO – and it could list as early as next year.