UK Fintech Zilch Acquires Lithuanian Fjord Bank to Power European Expansion
- ah0807
- 2 minutes ago
- 2 min read
In a major development for the European fintech landscape, Zilch, a fast‑growing UK‑based consumer payments company, has agreed to acquire Fjord Bank, a challenger bank headquartered in Vilnius, Lithuania. This strategic move gives Zilch access to a European banking licence, positioning Vilnius as its primary European headquarters and enabling the company to accelerate its rollout of financial services across the European Economic Area.
Fjord Bank, which operates in several European markets and holds approximately $120 million in assets, brings a fully regulated banking licence authorised by the Bank of Lithuania and the European Central Bank. By acquiring this regulated institution, Zilch will be able to “passport” its consumer finance and payments offerings across multiple European countries without having to undergo separate licensing processes in each jurisdiction, significantly shortening time‑to‑market and improving operational efficiency.
The deal represents a major step in Zilch’s international growth strategy. With its new regulatory foundation in Lithuania, the company plans to broaden its suite of financial products beyond its current payment platform, including savings, consumer lending and other digital banking services. Establishing an operational base in Vilnius also underscores Lithuania’s rising appeal as a fintech hub, offering a strong regulatory framework, access to EU markets and a vibrant tech ecosystem that attracts international fintech firms.
For Zilch, the acquisition complements a significant period of growth which has seen the company build a large user base, secure multiple regulatory licences, and generate substantial revenue. The combined strength of Zilch’s technology, data and AI capabilities with Fjord Bank’s banking infrastructure is set to empower a new generation of financial services that can compete at scale across Europe.
Looking ahead, the transaction is expected to close in the second half of 2026, subject to regulatory approval. Once complete, Zilch’s expanded European presence will mark a new chapter in the company’s ambition to deliver customer‑centric fintech solutions across the continent.