Zopa, a London, UK-based peer-to-peer lending platform, raised £44m in the first stage of its latest funding round.
The backers were not disclosed.
The company intends to use the funds to continue to launch a new set of products.
Created in 2005 by Jaidev Janardana, CEO, Zopa operates an online p2p lending platform that directly matches people looking for a personal loan with people looking to invest. Since 2005, the company has lent £3.5bn to UK consumers to finance their difference needs in terms such as debt consolidation, home improvements, car finance and weddings. It achieved full year profitability in 2017 for the first time since 2012.