4 years ago

Zopa Secures £220 Million Funding, Becomes a Unicorn

  • London-based digital bank fintech Zopa has secured £220 million in funding led by Japan’s SoftBank Group with participation from Chimera Abu Dhabi

  • This is the company’s most significant funding round to date and was also supported by existing investors, including Silverstripe, Northzone and Augmentum

  • The funding will be used to meet the capital requirements of Zopa bank’s rapidly growing balance sheet

  • Zopa was founded in 2005 and has already attracted over £250 million in deposits and is a top 10 credit card issuer in the UK in terms of new customers

  • The funding round marks Zopa’s entry into the unicorn club with a valuation of around £750 million ($1.03 billion).

      • ProblemFinancial Services

      "People in the UK need better ways to borrow and save money, and traditional banks are not meeting their needs."

      Solution

      "Zopa is a digital bank that offers a range of financial products, including peer-to-peer lending, auto finance, fixed-term savings accounts, and credit cards, all designed to help people borrow and save money more effectively."

      Covered on