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FinTech company Zilch has revealed it has expended its partnership with Mastercard to help bring the former’s buy now, pay later (BNPL) card digital card to Europe.
UK buy now, pay later (BNPL) company Zilch has entered an agreement to acquire FinTech startup NepFin as it prepares to enter the US market.
The BNPL market has seen a financial boon in recent years, creating market leading behemoths like Klarna, Affirm and Afterpay – who are all recording strong growth on the back of clear market demand. Could a growing call for regulation in the sector change this?
UK-based buy now pay later startup Zilch raised $80m in a Series B funding round led by Gauss Ventures and M&F Fund and is now valued at over $500m.
UK-based buy now pay later (BNPL) FinTech firm Zilch introduced a ‘tap and pay-over-time’ solution which enables high street shoppers to make in-store purchases and pay later.
The buy now pay later sector may have had its best year ever in 2020, but now the UK’s top financial watchdog is calling for stricter rules “to protect consumers”.
Klarna was briefly Europe’s highest valued FinTech in 2020 and while the FinTech company has helped shape buy now and pay later services, there are many more gaining a lot of traction.
Saudi Arabia-based startup Tamara has secured $6m of seed capital on the back of increased activity in the buy now pay later sector.
As the year draws to a close, most people will be happy to see the back of it. However, these 29 FinTechs managed to end 2020 on a high by raising funding last week.
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