Zilch, the UK and EMEA’s fastest-growing fintech unicorn, has signed an agreement to acquire Lithuania-based AB Fjord Bank in a move that will secure a European banking licence and accelerate its international expansion strategy. The acquisition, which involves the purchase of 100% of Fjord Bank, will establish Lithuania as Zilch’s European headquarters, with Vilnius serving as its operational and regulatory base for scaling across Europe. Founded in 2021, Fjord Bank is a profitable, fully regulated challenger bank focused on digital consumer lending and savings, with approximately $120 million in assets and strong credentials in trust and transparency.
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The deal follows a landmark year for Zilch marked by over $175 million raised in debt and equity, $200 million in annual revenue, regulatory wins, and rapid customer growth. “This is a defining moment for Zilch as we build a platform that will power our international expansion,” said Philip Belamant, Co-Founder and CEO of Zilch. Veiko Kandla, CEO of Fjord Bank, added: “Joining Zilch provides the perfect opportunity, enabling us to accelerate growth, expand our product set and reach millions more customers without compromising on our consumer-first values.”
