Zilch announced funding of $10 million.

Zilch, a London, UK-based provider of an over-the-top (OTT) BNPL product for consumers, announced that it raised $10 million in capital funding

The money will be used for scaling the business.

ZIlch, founded in 2018 by CEO Philip Belamant, developed an over-the-top Buy Now Pay Later (BNPL) product, launchedin beta in August 2019. The company, which has been operating in stealth mode, allows its customers to shop wherever Mastercard is accepted and spread their payment over 6 weeks for zero interest and zero fees whenever they chose to buy from one of Zilch’s 5,000+ retail affiliate partners.

Unlike traditional BNPL products that require technical integration with merchants, Zilch’s unique (patent pending) model does not require any integration and can thus instantly provide its users accessibility everywhere. This gives Zilch the ability to scale rapidly.

Zilch claims a signup rate of 15,000 new customers every month.