Zilch, the world’s first ad-subsidised payments network (ASPN), today announced its first month of operating profit while surpassing a revenue run rate of more than $130m (£100m). The business has reached these milestones within just four years of launching its groundbreaking consumer payment platform. Zilch also announced the appointment to its Board of Mark Wilson, former CEO of Aviva and AIA and current member of BlackRock’s Board of Directors.

Zilch achieved both operating profit and surpassed $130 million revenue run rate in July 2024. The speed at which Zilch has achieved profitability places it in the same bracket as European fintech giants such as Revolut, Starling Bank, and Monzo. All four companies also reported revenues in excess of $130 million within three to five years, with Zilch almost doubling revenues in the year to March 2024. By comparison, industry data shows that it takes the average tech company 8-10 years in the US to break through the $100m revenue ceiling, 15 years in Europe and 17 years in the UK.  

Philip Belamant, CEO and co-founder of Zilch, said: "This milestone fundamentally changes the game for us. Profitability is something that a lot of fast-growing businesses are struggling to achieve, and I am hugely proud of the team for reaching this mark, ahead of plan. While many have cut their way to profit, we’ve doubled our revenue year on year, expanded our team, saved our 4 million customers over half a billion dollars in fees and interest costs, and generated over $3 billion in new sales for merchant partners through our ad-subsidised payments network.” 

“In a market saturated with competition, we’ve distinguished Zilch from inception by owning the customer relationship, pioneering regulation, and generating real credit profiles, savings, and value for customers where others haven’t. We’re hugely optimistic about the future, all the while recognising that this is our day 1 and it’s all ahead of us.”

Zilch is leveraging AI to unlock the full potential of four years of first-party consumer data and drive even more precise, personalised offerings. A deep understanding of users’ needs allows Zilch to convert sales better than any online platform to date - converting sales for advertisers up to 10-20 times more effectively than traditional search and social platforms. 

As a result, customers now open their Zilch app daily, which creates unrivalled engagement and conversion - all of which continues to drive major merchants to switch their ad budgets to Zilch’s ad-subsidised payments network, in turn fuelling better deals, discounts, and subsidies for customers. Zilch’s remarkable performance accelerates the fintech's momentum as the business eyes even greater milestones in 2025.

Commenting on his new appointment to the Board of Zilch, Mark Wilson, said: "I am excited to join Zilch at this critical juncture. Under Philip's visionary leadership, Zilch is transforming consumer finance with an innovative and responsible approach that lowers customer finance costs and fills a fast-growing need in society. I look forward to working alongside the Board to further help Zilch steer its path toward sustainable success as a category leader."

Chairman of Zilch, Serge Belamant, remarked: “As Zilch's Chair, I am delighted Mark has made this commitment as the value he will add will complement the expertise we currently have and help guide the company in its mission to provide affordable credit and rewarding debit for all as part of its financial inclusion vision. Mark’s deep expertise running global financial businesses will be a tremendous asset as Zilch continues its rapid trajectory, profitable growth, and market expansion.”