Fintech company Zilch is selecting investment banks for a listing next year.

According to a report by the UK's Financial Times citing people familiar with the matter, Zilch has invited major investment banks to submit underwriting proposals for its planned initial public offering next year. The discussions are still at an early stage and the plans may still change. The company aims to be profitable when it goes public next year. Zilch said: "We have made great strides in our business over what has been a transformative 12 months. We are currently fully focused on executing our established strategy to deliver impressive growth while keeping all strategic options open."