Zilch to acquire Lithuania’s Fjord Bank for expansion in Europe

Fintech steadfast Zilch has agreed to get AB Fjord Bank, a Lithuania-based institution, for an undisclosed sum.

Fjord Bank has astir $120m successful assets.

It holds authorisation and regularisation from the Bank of Lithuania and the European Central Bank.

With this deal, Zilch volition get a European banking licence, allowing it to broaden its scope wrong the European market.

The slope plans to get afloat ownership of Fjord Bank and acceptable up its European office successful Lithuania, positioning Vilnius arsenic its operational centre for further expansion.

Fjord Bank, established successful 2021, operates arsenic a challenger slope specialising successful integer user lending and savings products. It is described arsenic a “profitable” business.

Fjord Bank CEO Veiko Kandla said: “We are incredibly arrogant of what the Fjord squad has built implicit the past 5 years. Having established the concern and successfully scaled it, the clip is present close to go portion of a bigger mission. Joining Zilch provides the cleanable opportunity, enabling america to accelerate growth, grow our merchandise acceptable and scope millions much customers without compromising connected our consumer-first values.”

Through this acquisition, Zilch aims to connection its fiscal services much wide crossed Europe portion adding to its portfolio of products.

Over the past year, Zilch has reported raising implicit $175m done indebtedness and equity funding, surpassing $200m successful yearly revenue, and obtaining an further payments licence from the UK’s Financial Conduct Authority (FCA).

It besides launched a caller AI-powered merchandise and reached 5.5 cardinal registered customers implicit this period.

The transaction awaits regulatory support and is anticipated to beryllium finalised successful the second fractional of 2026.

Zilch CEO and co-founder Philip Belamant said: “By combining Fjord’s banking capabilities and regulatory footprint with Zilch’s market-leading data, AI capabilities and unsocial operating model, we tin standard a caller procreation of user concern crossed Europe, conscionable arsenic we person done successful the UK.”

"Zilch to get Lithuania’s Fjord Bank for enlargement successful Europe " was primitively created and published by Retail Banker International, a GlobalData owned brand.

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