Fintech firm Zilch has posted its first-ever month of operating profit, though it has declined to reveal the figure.
The company, which provides interest-free buy now pay later services subsidised by ads, announced the milestone four years after launching.
Zilch said it had surpassed $130m (£100m) in run-rate revenue. However, it refused to share specific numbers regarding profit.
“This milestone fundamentally changes the game for us,” said CEO Philip Belamant.
“Profitability is something that a lot of fast-growing businesses are struggling to achieve, and I am hugely proud of the team for reaching this mark, ahead of plan.”
In June, Zilch secured £100m in a debt financing deal with Deutsche Bank in preparation for an upcoming IPO.
Belamant told the Financial Times this year that should an IPO event occur, there was a strong chance it would be overseas if the Financial Conduct Authority (FCA)’s reforms did not effectively improve the appeal of London.
The FCA announced its public market reforms in July in what it called the “biggest change to the listing regime in over three decades”.
The FCA said it had “simplified” listing rules with a single category and fewer requirements for shareholder voting.
UKTN has contacted Zilch for further comment.