Zilch, an ad-subsidized payments network, has announced its first profitable month in July, marking a significant milestone in its rapid growth trajectory. The company reported a revenue run rate exceeding $130 million, placing it alongside established European FinTech players like Revolut and Monzo, who achieved similar revenue figures within three to five years. Zilch's impressive performance is highlighted by its ability to double revenues year-on-year while expanding its team and saving customers over half a billion dollars in fees and interest costs. The company's innovative approach allows consumers to make purchases and pay off debts in interest-free monthly installments, catering to the growing demand for flexible payment options. As Zilch prepares for a public offering, it aims to leverage the $127 million raised in debt financing to introduce new products. The competitive landscape indicates a strong preference among merchants for card-linked installment plans, emphasizing the need for innovation in the payments sector.
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