Zilch is one of the fastest-growing Fintech startups in the world, registering a high number of new users. According to CEO Philip Belamant, this trend aligns with one of his popular quotes, ‘the democratization of free credit.’ As of November 2021, the company was able to clock a net value of $2 billion, 14 months after its Series A. This milestone made it a double unicorn, earning it the title of one of the fastest-growing European unicorns.
Recently, the company announced that it had surpassed 2 million users, which is considered an amazing fete for a Fintech company. Fintech companies have often been on the receiving end of negative publicity, being cited as a disruption to traditional finance. However, despite this status, Zilch has continued to stand out among its competitors to meet the CEO’s goal of realizing ”the most ubiquitous payment product the world has ever seen.”
The exponential growth witnessed at Zilch has raised two central questions; what is Zilch doing differently from other Fintech companies, and why are many consumers responding to its approach. According to CEO Philip Belamant, the Fintech space is full of competition, growth, and user growth which Zilch has taken advantage of to become a revolutionary force in personal finance.
Today, the company is discussed alongside BNPL companies since it strives to provide the BNPL service to its client base. Buy Now, Pay Later companies allow their users to pay for goods and services in installments and are mostly focused on online shopping in partner stores. By venturing into this market, Zilch has effectively differentiated itself from your typical Fintech Company.
According to Philip Belamant, the flexibility and value provided to customers whenever they make payments is unprecedented and is one of the contributing factors to the close relationship between Zilch and consumers.
