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Zilch Hikes Provisions Amid ‘Record Year’ for Customer Growth
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Zilch hikes provisions amid ‘record year’ for customer growth
UK fintech Zilch raised its provisions for losses in the last year as demand for buy now, pay later services ballooned. The London-headquartered firm raised provisions for credit losses – funds set aside to cover estimated losses from failed repayments – to £27.4m – a 116 per cent jump from £12.7m the year prior. Credit losses relative to gross merchandise value, which is the percentage of a company’s total sales that it expects to lose from cu…
·London, United Kingdom
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