Zilch has announced its plans to acquire Fjord Bank, an initiative which will provide the unicorn with a European banking licence as it eyes international rollout.
Following this announcement, the acquisition represents an important step for Zilch, providing a European banking licence that will enable the accelerated rollout of its offering across the region of Europe.
In addition, Zilch will purchase 100% of Fjord Bank and is set to establish Lithuania as its European headquarters as a consequence of the transaction, leveraging Vilnius as its operational and regulatory platform for expansion across Europe.
Accelerating international rollout and receiving a European banking licence
According to the official press release, this acquisition marks the next phase of Zilch’s growth and development, and is set to enable the business to passport its proposition for customers and clients across the region of Europe through the use of improved capital efficiency, whilst broadening its product capabilities as well.
Through the process of combining Fjord’s banking capabilities and regulatory footprint with Zilch’s data, AI capabilities, and operating model, the collaboration will enable Zilch to scale a new generation of consumer finance across Europe. At the same time, the process of joining Zilch is expected to provide Fjord Bank with the opportunity to accelerate growth, expand its product set, as well as reach more users without compromising on its consumer-first values.
The transaction is expected to be completed in the second half of 2026, subject to regulatory approvals. The company is set to remain focused on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of staying compliant with the regulatory requirements and laws of the industry as well.
This announcement follows Zilch’s FCA payments services licence, which aimed to solidify its position within the market. With the receipt of this licence, Zilch was given the possibility to eliminate its reliance on third parties and start developing more payment methods in-house, build and deliver additional products to market more efficiently, as well as further develop faster as new technologies are launched in the market, including stablecoins.
