6 years ago

Zopa Secures £140 Million Funding to Fuel Banking Expansion

  • Zopa, a UK-based financial technology company, has announced a £140 million fundraise, its largest to date

  • The investment is expected to enable Zopa's banking entity to fulfill its regulatory capital requirements, a key step towards obtaining a full banking license

  • The investment is being provided by IAG Silverstripe, an investment arm of IAG Capital, which is an existing minority investor in Zopa

  • The investment is subject to final approvals, including regulatory change of control.

      • ProblemFinancial Services

      "Zopa is a UK-based fintech company that has been operating as a peer-to-peer lending platform since 2005. They have been working to obtain a full banking license, but have been operating with restrictions. They need to raise capital to meet regulatory requirements to lift these restrictions."

      Solution

      "Zopa has raised £140 million in funding from IAG Silverstripe, an investment arm of IAG Capital, to meet regulatory capital requirements and obtain a full banking license. This will allow them to launch their bank alongside their peer-to-peer business and offer a broader set of products to their customers."

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