UK payments company Zilch, founded in 2018, is understood to have received a low single-digit million equity investment from eBay Ventures. The company declined to comment.
In brief:
-The business already has the backing of Goldman Sachs and secured £20m from existing investors earlier this year
-It is now valued at £1.65bn
-Revenue for 2023 is set to almost triple, rising from £10.9 million last year to £30 million in the 12 months to March.
What does this mean?
Zilch chief executive Philip Belamant said the company was looking to ‘double sales, triple revenues and fivefold gross profit’ in the financial year to March 2023.
