Philip Belamant: Building Zilch

Philip Belamant founded Zilch in London in August 2018, serving as Co-Founder and Chief Executive Officer of the fintech venture. Philip established Zilch as a direct-to-consumer credit provider and advertising technology platform, reaching unicorn status within 14 months of its 2020 launch. 

The company gathered two million customers in 18 months, moving at a pace three years ahead of comparative unicorn firms in the sector.

His work centres on removing consumer credit cost through Zilch's virtual Mastercard system, which links to users' bank accounts. The platform provides cashback on debit payments whilst offering credit repayments across six weeks without interest charges, marking a shift in consumer credit accessibility. 

This innovation in payment systems reflects Philip's understanding of market needs, which he developed through his extensive experience in financial technology.

In 2024, Zilch published figures showing £130m (US$138m) in annual revenue, marking its move into profitability. The company doubled its revenue from the previous year, achieving this result in four years of trading. 

This growth stems from Philip's development of what he terms the "Google-isation of payments" – an advertising-subsidised network delivering financial products based on user behaviour and needs. 

The model demonstrates the practical application of technology in consumer finance, combining payment systems and consumer credit into a platform serving both users and advertisers.

Career and Recognition

Prior to Zilch, Philip owned To The Power Of X and held the position of Managing Director for NET1 UEPS Technologies Inc. in the UK from January 2015 to August 2017. He directed Net1 Mobile Solutions from November 2012 to January 2015, developing expertise in financial technology systems. 

His earlier ventures include founding Moola Mobile in Windhoek, Namibia, where he worked as Executive Director until August 2017. Before that he established PBel in Johannesburg in February 2006, serving as Managing Director until April 2012, building his foundation in financial services.

Philip studied at St. David's Marist Inanda before earning a BSc IT Honours degree with Cum Laude from the University of Johannesburg between 2002 and 2006. 

His work earned recognition through the EY Entrepreneur of the Year award in May 2022 and the Great British Entrepreneur Of the Year award in September 2021, marking his contributions to financial technology innovation. 

Industry Impact and Leadership

Zilch’s approach to financial services reflects Philip's focus on practical solutions. Through Zilch's platform, users receive personalised financial offerings at market-competitive rates, whilst the company maintains its growth through advertising revenue. 

This model emerged from his focus on addressing specific customer requirements in the credit market, demonstrating the effectiveness of data-driven financial services.

Philip says: “All my professional life, I’ve created technology-based businesses that create a positive change in society and as with a lot of things, when the solution looks easy, it’s often not the case. 

“Our journey has had its fair share of ups and downs. For example, we launched our first funding round just prior to COVID and as a result had a well-known VC renegue on a term sheet leaving us to continue funding the business ourselves.”

Elsewhere, Philip serves as Co-Chair and founding member of the Unicorn Council for UK Fintech, a group comprising Chief Executive Officers from Britain's 25 largest fintech companies. 

The council works on policy development, market perception and capital markets liquidity to support the UK fintech sector. His position reflects his experience in financial technology and its applications for social benefit, contributing to the broader development of Britain's fintech industry.

His work in fintech led to Zilch's current model, which generated £300m (US$389m) in customer savings by the third quarter of 2023, serving 3.6 million registered users. 

The company's growth reflects his commitment to developing financial services that serve both commercial and social objectives, creating value for users whilst building a sustainable business model.

Philip concludes: “It might sound obvious but the key to standing out is building a product that solves an existing real-world problem. My mission with Zilch was to provide people with the most ubiquitous and empowering way to pay for anything, anywhere.

“Thinking back, what stood out to investors was the clear, transparent and customer-centric credit alternative we designed. 

“The fact that we were prudently creating it with regulators [the FCA] to ensure consumer protection and financial health existed from the start was very attractive to them.”

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