Zopa Raises £75M
Summary
The company intends to use the funds to meet the capital requirements of its balance sheet, and to support M&A dealmaking. Launched in 2020, by Jaidev Janardana, CEO, Zopa bank provides fixed term savings backed by FSCS protection and a credit card to help customers take control of their finances. They added to existing peer-to-peer (P2P) lending services, giving customers access to loans built for real-life and intelligent investments backed by tech. The company has attracted £3 billion in deposits, more than £2bn of loans on balance sheet, and issued more than 400,000 credit cards.
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