Zilch to Acquire Fjord Bank to Fuel Major European Expansion and AI Innovation

Zilch, the London-based payments platform, has announced a definitive agreement to acquire 100% of AB Fjord Bank. This strategic move provides the fintech unicorn with a specialized European banking license, which is essential for its planned international rollout. The acquisition establishes Lithuania as Zilch’s new European headquarters, serving as a regulatory platform for expansion across the continent.

The deal allows Zilch to passport its financial services across all 27 EU member states from its hub in Vilnius. This regulatory shortcut is a significant milestone for the UK-based company as it navigates the post-Brexit landscape. By leveraging Fjord Bank's existing infrastructure, Zilch can deploy its market-leading proposition with much greater capital efficiency.

Central to this expansion is the integration of Zilch’s Intelligent Commerce AI, which connects consumers with retailers through personalized rewards. The acquisition will allow Zilch to scale these AI-powered credit tools across Europe, offering a new generation of consumer finance. This model utilizes advanced data and AI to improve financial outcomes for millions of potential new users.

Fjord Bank, a profitable challenger bank with approximately $120 million in assets, focuses on digital consumer lending and savings. Its established reputation for transparency aligns with Zilch’s mission to eliminate high-cost credit. The combined entity will offer a broader range of product capabilities, including retail deposit-taking to fund its growing lending book.

The announcement follows a transformational year for Zilch, which saw the company surpass $200 million in annual revenue and reach 5.5 million registered customers. CEO Philip Belamant described the deal as a defining moment that will power the firm’s international expansion. The transaction is expected to conclude in the second half of 2026, subject to approval from the Bank of Lithuania and the European Central Bank.