ZILCH RAISES £ 100M FINANCING DEAL TO FUEL EXPANSION

Zilch , the world ’ s first ad-subsidised payments network ( ASPN ), has announced a £ 100m ( US $ 126.5m ) securitised debt financing injection .

Arranged by Deutsche Bank , Zilch says this fresh financing injection will help it grow its businesses and accelerate its ability to create and launch new products for a broader customer base .

REVOLUT HITS RECORD US $ 553M PROFIT ; SEEKS US $ 40BN VALUATION

Leading UK-based neobank Revolut has made a record pre-tax profit of £ 438m ( US $ 553.1m ) for the full year 2023 .

The fintech attributes these record returns to user growth rates and rising interest-related income .

It comes as Revolut seeks a US $ 500m share sale at a valuation of US $ 40bn .

LLOYDS BANKING GROUP EXPANDS VISA PARTNERSHIP

Visa has become Lloyds Banking Group ’ s preferred scheme partner . Per the deal , consumer and commercial customers of Lloyds Bank , as well as other banks under its umbrella – Halifax , Bank of Scotland and MBNA all included – will receive Visa credit and Visa debit cards . The partnership extends a 40-year UK relationship .

10 August 2024