Fintech Unicorn Zilch Secures Payments Licence from UK Regulator
The UK Financial Conduct Authority has granted Zilch, a fintech unicorn, a payments services licence. This authorisation, which follows an initial FCA approval in 2020, allows Zilch to become a direct, principal Visa member and opens opportunities for new payment collaborations.
The licence strategically positions Zilch ahead of its upcoming Zilch Pay launch planned for next year and supports its potential plans for a public listing. Valued at approximately $2 billion, Zilch boasts annual revenues exceeding £150 million.
Zilch's user base includes over 5 million customers and 5.3 million users. Additionally, in the weeks prior to obtaining the licence, the company secured $175 million in further debt and equity funding. Its notable partnerships and investors include Arsenal FC, eBay, Goldman Sachs, and Ventura Capital.
