Zilch, the UK BNPL provider, has asked investment banks to pitch for roles on a London Stock Exchange listing that could happen as early as next year, according to the Financial Times. Zilch raised money at a $2 billion valuation in 2021 and has held that figure in later rounds, but two people close to the talks said an IPO probably wouldn’t reach it. Zilch cut its annual loss to £10.5 million from £50 million the year before and wants to be turning a profit before it goes public. Zilch makes part of its money from ads targeted with transaction data from its roughly six million customers, who use it for BNPL, interest-free loans, and a debit card that pays cashback.
