By 
London-based buy now, pay later unicorn Zilch is accelerating its international expansion plans after acquiring Lithuania’s Fjord Bank, a move that secures the company a European banking licence.
While Zilch did not disclose the financial terms of the transaction, the Financial Times reports that the deal values Fjord Bank at about $38 million. The acquisition is expected to close in the second half of 2026.
Founded in 2020, Zilch has grown rapidly, attracting more than five million registered users by combining buy now, pay later payments with personalised rewards, benefits and discounts. In 2025, the company raised over $175 million in combined debt and equity financing, crossed $200 million in annual revenue, and obtained a second payments licence from the UK’s Financial Conduct Authority.
Fjord Bank, a profitable and fully regulated challenger bank focused on online consumer lending and savings, represents the next phase of Zilch’s growth strategy. The acquisition will allow Zilch to passport its services across Europe, expand its product suite, and strengthen its regulatory footing ahead of a potential initial public offering.
Commenting on the development, Zilch CEO Philip Belamant described the deal as a pivotal milestone for the company’s global ambitions. He said the combination of Fjord Bank’s banking infrastructure and regulatory reach with Zilch’s data-driven, AI-powered operating model would enable the company to scale a new generation of consumer finance across Europe, replicating its success in the UK.
Comments