Zopa, a London, UK-based digital bank company, raised £80M in an AT1 Capital.
Existing and new investors participated. The transaction was completed on the International Securities Market (ISM) of the London Stock Exchange. Following the transaction, Zopa Group Limited will be re-registered as an unlisted, public company (PLC) within 6 months.
The company intends to use the funds to strengthen its balance sheet without diluting shareholders as the bank prepares to launch its flagship current account.
Zopa is a provider of digital bank services. It holds a full banking license, and customers’ deposits are safeguarded by the Financial Services Compensation Scheme (FSCS), protecting up to £85K per account.
Zopa currently has over £3 Billion loans on balance sheet, achieved profitability and launched current accounts, unsecured personal loans, point-of-sale, car finance, credit cards, savings accounts, and tools for improved financial management and health. Most recently, Zopa Bank doubled its full year profits before tax to £34.2 million for the financial year ending 31 December 2024 on a 30.2% revenue growth. It has close to 850 employees.
The raise followed an EUR 80M equity fundraise executed 6 months ago, in November 2024.
FinSMEs
14/05/2025