London’s BNPL player Zilch has acquired US debt financing platform Neptune Financial to accelerate its launch in the state.
Zilch will open in beta in 2019, connecting directly with customers and differentiating in crowded BNPL arenas by using soft background credit checks performed by Credit Kudos through OpenBanking to determine affordability. I am trying to.
The startup has since increased its London workforce to 150 to meet the scorching demands among consumers, recording 150,000 new registrations a month.
As competition in the UK’s BNPL sector intensifies, Zirch aims to expand internationally into the US market and has promised to hire another 100 staff this year to reach its growth goals. ..
The acquisition of NepFin follows Zilch’s recent Series B expansion, raising an additional $ 110 million and raising its total funding to more than $ 200 million, and only secures key licensing and regulatory features. Instead, it helps to expand the US ground team.
Albert Periu of NepFin will lead as CEO of the United States, and Thomas Meister will join as COO and legal counsel. Prior to NepFin, both Periu and Meister worked in P2P lender funding circles.
Philip Belamant, CEO and Founder of Zilch, said: “Albert, Tom, and their team have done a tremendous amount of work. By adding them to our team, we can start running with regulation in mind. The most scalable BNPL products in the US market. We are confident that the team will reflect and build Zilch’s success by putting it in. ”
Zilch Acquires US Creditor NepFin
Source link Zilch Acquires US Creditor NepFin