Zilch Buys Lithuanian Lender Fjord Bank to Gain Europe Permit

Zilch Technology Ltd. agreed to buy Lithuanian lender AB Fjord Bank, giving the British fintech access to a coveted banking license in Europe.

The deal will see Zilch establish a European headquarters in Vilnius and expand across the continent, according to a statement on Thursday. The firms did not disclose terms for the transaction, which is expected to close in the second half of the year.