Zilch celebrates ‘third birthday milestone’ with London Stock Exchange opening

Zilch has opened markets for trading at the London Stock Exchange (LSE) in celebration of its third birthday.

The payments platform said the “milestone celebration” coincides with a series of achievements including strong company growth and trading performance.

Zilch revealed it now has 3.5 million registered customers who have now spent more than £1.5 billion through its ‘Pay Now’ debit product.

Thanking LSE chief executive Julia Hoggett for inviting the company to open its markets on Thursday in celebration of the milestone, Zilch co-founder and chief executive Philip Belamant said that in 36 months of operation, “almost 10 per cent of the UK adult working population is now a registered customer”.

“Whilst we remain acutely aware of the many challenges that lie ahead, I am very encouraged by the fact our margins are currently at their highest, credit losses at record lows and revenues the strongest we’ve ever seen,” Belamant said. “Exceptional growth in fundamental unit economics with substantial gross profit margins holds Zilch on a clear course to profitability and beyond.

“We are also currently on track to process more sales in the next 12 months than we have in Zilch’s history to date.”

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