Zilch Acquires Fjord Bank to Propel European Expansion with Banking License
Zilch, one of the fastest-growing fintech unicorns in the UK and across the Europe, Middle East, and Africa (EMEA) region, has announced a strategic acquisition that marks a significant step in its international growth. The company is set to acquire AB Fjord Bank, a Lithuania-based bank with approximately $120 million in total assets, regulated by both the Bank of Lithuania and the European Central Bank.This acquisition provides Zilch with a coveted European banking license, enabling the company to accelerate its expansion across the European market and offer a broader suite of financial products to consumers and businesses alike. With this move, Zilch is positioning itself to become a key player in the European fintech landscape.
Expanding Footprint Across Europe
Zilch’s acquisition of Fjord Bank represents a strategic milestone in the company’s ambition to expand beyond the UK. With the newly acquired banking license, Zilch will now have the regulatory framework required to operate fully across Europe, ensuring compliance with stringent EU financial regulations while opening new avenues for innovation in consumer payments and financial services.
The European banking license is a critical enabler for Zilch’s business model. It allows the company to offer banking-related services directly to customers, including deposit-taking, payment processing, and digital lending, while maintaining the flexibility and agility that have defined its fintech approach. This positions Zilch to compete with established banks while retaining the innovation-first mindset that has fueled its rapid growth in recent years.
Fjord Bank: A Strategic Asset
AB Fjord Bank, headquartered in Lithuania, brings both regulatory credibility and operational infrastructure to Zilch. With a robust banking license and a portfolio of assets totaling approximately $120 million, Fjord Bank provides a strong foundation for Zilch to expand its offerings in new European markets. The bank’s established presence and regulatory approvals across the EU will allow Zilch to seamlessly integrate its services and scale its operations across multiple countries.
Zilch’s Vision for the Future of Commerce
Founded with the mission to transform the payments landscape, Zilch has rapidly grown into a leading consumer payments platform, recognized for its innovative “buy now, pay later” (BNPL) offerings. The company has carved out a unique position in the fintech space by combining speed, transparency, and customer-centric solutions.
The acquisition of Fjord Bank aligns with Zilch’s broader vision to become a truly global fintech platform. By securing the European banking license, Zilch can now pursue cross-border expansion with greater confidence, offering its solutions to a growing customer base across Europe. This strategic move also underscores Zilch’s commitment to innovation in financial technology and its determination to redefine how consumers engage with digital payments.
Looking Ahead
With the acquisition of Fjord Bank, Zilch is expected to accelerate the rollout of its products across Europe, tapping into new markets and leveraging the regulatory and operational strengths of its new banking arm. The integration of Fjord Bank will allow Zilch to develop more comprehensive financial services, including enhanced BNPL solutions, banking features, and innovative digital payment products that cater to the evolving needs of European consumers.
This acquisition represents a significant step in Zilch’s journey to become a leading global fintech platform,” said [Zilch CEO Name]. “With a European banking license in hand, we are now equipped to bring our products to millions more consumers across Europe, while continuing to innovate and deliver value in the payments and financial services space.”
About Zilch
Zilch is a consumer payments platform that powers the future of commerce through innovative financial solutions. Known for its rapid growth and customer-first approach, Zilch offers flexible and transparent payment services that are reshaping the way consumers engage with digital payments. With operations across the UK and ambitions to expand globally, Zilch is committed to building a platform that combines innovation, speed, and financial inclusivity.
About AB Fjord Bank
AB Fjord Bank is a Lithuania-based bank authorized and regulated by the Bank of Lithuania and the European Central Bank. With a portfolio of approximately $120 million in total assets, Fjord Bank provides a strong regulatory and operational foundation for fintech partnerships and cross-border banking services across the European Union.
