British fintech firm Zilch achieved its first monthly profit, marking a significant milestone as it eyes an eventual IPO. The company, competing in the "buy now, pay later" space with firms like Klarna and Block, reached profitability within four years, faster than several of its peers. Zilch also reported an annual revenue run rate exceeding $130 million, doubling from the previous year. CEO Philip Belamant attributed this success to business growth compared to companies that "cut their way to profitability." Zilch appointed former Aviva CEO Mark Wilson to its board as it prepares for further expansion and a potential public listing.
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00:00It's Benzinga, and here's what's on the block.
00:02British fintech firm Zilch achieved its first monthly profit, marking a significant milestone
00:07as it eyes an eventual IPO.
00:10The company, competing in the buy-now-pay-later space with firms like Klarna and Block, reached
00:14profitability within four years faster than several of its peers.
00:18Zilch also reported an annual revenue run rate exceeding $130 million, doubling from
00:23the previous year.
00:25CEO Philip Belmont attributed this success to business growth compared to companies that
00:29cut their way to profitability.
00:31Zilch appointed former Aviva CEO Mark Wilson to its board as it prepares for further expansion
00:36and a potential public listing.
00:37For all things money, visit Benzinga.com.