UK-based FinTech firm Zopa has announced it has raised £44 million in the first phase of its latest fundraising round, marking its largest funding round to date.
The funding comes during an exciting time for the firm, who reported full profitability last year for the first time since 2012. The injection of funding will be invested towards the capital needs of the new bank it has been building.
In June last year, Zopa closed a £32 million funding round led by Wadhawan Global Capital and North Zone. It announced at the time that it would be expanding its product offering to provide customers with more choice in financial services.
Jaidev Janardana, chief executive of Zopa, said: “We believe that launching our bank is a key next step. It allows us to offer a wider choice of products and to help our customers make smarter choices with their money. This further injection of capital takes us a step closer to that vision and we are delighted that our investors have supported us on this journey.”
Founded in 2005, Zopa is a peer-to-peer lending company, lending £3.5 billion to UK customers since its inception.
Latest News
-
Rishi Sunak appointed senior adviser to Goldman Sachs while continuing as MP
-
Revolut partners with Ant Int’l to enable Alipay transfers to China
-
Lloyds to hold data and AI summer school for employees
-
Ziglu enters special administration
-
Monzo fined £21m for financial crime control failings
-
Barclays appoints dual leadership structure for Middle East operations
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories