Zilch plans London IPO as early as next year
Zilch is preparing to list on the London Stock Exchange, with an IPO possible as early as next year, after being valued at $2 billion in a 2021 funding round, the Financial Times reported. The company lost £10.5 million ($13.9 million) in its last financial year and aims to be profitable before the offering.
Zilch has nearly six million customers who generate revenue from targeted ads tied to transaction data. In January it announced plans to buy Lithuania’s Fjord Bank, a move that would grant it a European banking license. The firm also holds a UK Financial Conduct Authority licence and has a partnership with Arsenal football club.
“After a transformative 12 months for the business, we are fully focused on executing our strategy which is delivering impressive growth, with all strategic options remaining open,” Zilch spokesperson said.
Zilch was founded eight years ago and has repeatedly been cited as a potential IPO candidate. Its valuation has stayed around the $2 billion mark since the 2021 round, despite widening losses in earlier years.
What we know
Zilch is preparing to list on the London Stock Exchange, with an IPO possible as early as next year
The company was valued at $2 billion in a 2021 funding round
Zilch lost £10.5 million ($13.9 million) in its last financial year
The eight-year-old company has nearly six million customers
Zilch in January announced plans to purchase Lithuania’s Fjord Bank, part of an international expansion plan that granted the company a European banking license