Zilch, a London-based startup operating in the buy now, pay later space, has raised $80 million in a Series B round.

It has now bagged a total of $120 million in funding at a valuation of over $500 million.

The round includes Gausee Ventures and M&F Fund, with Zilch using the cash for expansion in the UK as well as entry into the US market.

It also planning to hire around 100 new people, in addition to bringing in Werner Kruger, former VP of Data Science at Klarna, as Chief Data Officer, and Amabel Polglase, former Head of Global Clients at Facebook, as Chief Marketing Officer.

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