7 years ago

Zopa Raises £60 Million to Launch New Bank

  • Zopa, the UK peer-to-peer lending company, has closed £60 million in further funding to launch a next-generation bank

  • This funding follows a previous £44 million raised in August

  • The company has been applying for a bank license with the UK regulators since 2016

  • Zopa has served nearly half a million customers and has lent more than £3.7 billion in unsecured personal loans

  • The new bank will offer FSCS-protected savings accounts, P2P investments, personal loans, car finance and credit cards.

      • ProblemFinancial Services

      "People in the UK have limited options for convenient and fair financial products, with high fees and complex terms."

      Solution

      "Zopa's new digital bank will offer simple and transparent savings accounts, credit cards, loans, and a money management app with personalized features to help people manage their finances more effectively."

      Covered on