The milestone celebration coincides with a series of achievements including remarkable customer savings and growth, robust trading performance and a string of industry awards that underscore the first phase of its vision to eliminate the cost of consumer credit. For good. Today, Europe’s fastest fintech to go from Series A to $2bn valuation - Zilch - reveals it has passed the threshold of 3.5 million registered customers - the equivalent of over 3,000 people signing up to benefit from Zilch every day, for three years since its launch. By using its reward-earning ‘Pay Now’ debit product and zero-interest ‘Pay in 4 over 6 weeks’ credit product, Zilch customers have now spent more than £1.5 billion through the platform and in return benefitted from over £300 million in rewards and savings on interest and late fees.

Having consistently maintained one of the highest Trustpilot ratings of any financial product, Zilch is today one of the most respected and valuable of the 20 UK fintech unicorns.

Philip Belamant, CEO and co-founder, comments: “I’m enormously proud of how far we’ve come in just three years and we appreciate Julia Hoggett, CEO of the London Stock Exchange, inviting us down to open its markets today in celebration of this milestone. In just 36 months, almost 10% of the UK adult working population is now a registered customer. Many customers are using Zilch daily with our average customer using the product 100 times a year. Zilch has already driven over £1.5 billion in commerce to retailers and put over £300m of savings and rewards back into the pockets of customers. And this is just the beginning.

“Whilst we remain acutely aware of the many challenges that lie ahead, I am very encouraged by the fact our margins are currently at their highest, credit losses at record lows and revenues the strongest we’ve ever seen. Exceptional growth in fundamental unit economics with substantial gross profit margins holds Zilch on a clear course to profitability and beyond. We are also currently on track to process more sales in the next 12 months than we have in Zilch’s history to date.”

Sean O’Connor, co-founder, added: “We are pleased that the strength with which our counter-cyclical business model has performed during this challenging macro market environment, together with the scale of its societal impact and growth potential, is increasingly being noted in institutional capital markets. As such, we are delighted to be invited by the CEO of the London Stock Exchange to open what is one of the world’s major stock markets.”

Zilch was invited to open markets at the London Stock Exchange in celebration of its three year anniversary. Still a privately owned, fast-scaling business, Zilch is using its unique ad-subsidised payments model to tackle one of the world’s largest Total Addressable Markets (TAM), wherein circa $50 trillion (up from circa $20 trillion in 2000) is being spent on bills, payments and ecommerce annually. In the next five years, this is expected to grow another $30 trillion.

Zilch has received a slew of prestigious awards validating its industry-leading position, including being named ‘Best Credit Card’ at the 2023 Global Payments Innovation Awards and ‘Alternative Consumer Credit Provider of the Year’ at the esteemed Credit Strategy Awards (following on from its recognition as the ‘Best Credit Card’ at the 2022 Credit Strategy Lending Awards). In addition, Zilch’s co-founder and CEO was recognised as ‘Leader of the Year 2023’ at Credit Strategy’s recent Leadership Awards, and EY’s Entrepreneur of the Year 2022 for London.