Business

Zilch Achieves Profitability, Surpasses $130M Revenue, and Adds Mark Wilson to Board

Sep 3, 2024 1 min read

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British financial technology firm Zilch has reported its first-ever month of operating profit, four years after launching its ad-subsidised payments network (ASPN). The company has also surpassed a revenue run rate of $130 million, marking a significant milestone as it prepares for an eventual initial public offering (IPO). CEO and co-founder Philip Belamant highlighted that the firm achieved profitability by expanding its business rather than reducing it.

In addition to this financial achievement, Zilch has appointed Mark Wilson, former CEO of Aviva and AIA and a current BlackRock Board member, to its Board of Directors. This appointment is expected to bolster the company’s strategic direction as it continues to grow. The company's rapid growth places it alongside European fintech giants such as Revolut, Starling Bank, and Monzo. Zilch's innovative use of AI has also contributed to its success, offering advertisers more precise and effective sales conversions compared to traditional platforms.

#tech #fintech #finance #ipo #business-leaders #markets

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