26 July 20212 minute read

DLA Piper advises UK BNPL fintech Zilch on USD110m funding deal with Goldman Sachs and DMGT

DLA Piper has advised London-based Buy Now, Pay Later (BNPL) start-up Zilch on its USD110 million (GBP80 million) debt and equity fundraising from Goldman Sachs' (GS) asset management and private credit team and DMG Ventures, the investment arm of Daily Mail owner Daily Mail & General Trust (DMGT).

The fundraising is an extension of Zilch's USD80 million Series B round announced in April and backed by numerous investors including Gauss Ventures and M&F Fund.

Zilch will use the additional funding to expand into the US and continue to grow its UK customer base, which currently stands at over 700,000.

The DLA Piper team advising Zilch was led by Finance partner Sarah Day on the debt financing by GS and Corporate partner Luca Gori on the equity financing by GS and DMGV.