Zilch, the UK’s leading fintech unicorn, has signed a definitive agreement to acquire AB Fjord Bank. This strategic move provides Zilch with a full European banking license, allowing the company to establish its continental headquarters in Vilnius, Lithuania.
The Strategy: From “App” to “Bank”
The acquisition, expected to close in H2 2026, allows Zilch to move beyond third-party payment processing. By owning the “bank,” Zilch gains:
Regulatory Independence: Direct authorization from the European Central Bank (ECB).
Lower Costs: Access to lower-cost capital to fund its consumer lending products.
AI Integration: The ability to plug its Zilch Intelligent Commerce AI directly into core banking systems for faster credit decisions.
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Why Lithuania?
Vilnius has emerged as the premier operational hub for post-Brexit fintechs. By using Fjord Bank’s existing infrastructure, Zilch can “passport” its services across the entire European Union with a single regulatory framework.
“This is a defining moment. By combining Fjord’s banking footprint with Zilch’s AI capabilities, we can scale a new generation of consumer finance across Europe,” said Philip Belamant, Co-Founder and CEO of Zilch.
Publisher’s Perspective: The 2026 “Bank-in-a-Box” Trend
We are seeing a major trend where “Unicorns” are no longer content being just a software layer on top of old banks. Zilch’s acquisition of Fjord Bank proves that to truly disrupt the market with Intelligent Commerce, you must own the regulated rails. This deal shifts Zilch from being a “Buy Now, Pay Later” tool to a fully integrated digital bank.