SoftBank-backed fintech Zopa aims to double profit this year as it eyes 2025 current account launch
Summary
LISBON, Portugal — British online lender Zopa is on track to double profits and increase annual revenue by more than a third this year amid bumper demand for its banking services, the companys CEO told CNBC. The firm also says it is on track to increase pre-tax profits twofold in 2024, after hitting £15.8 million last year. Zopa, a regulated bank that is backed by Japanese giant SoftBank, has plans to venture into the world of current accounts next year as it looks to focus more on new products. In 2024, weve hit or exceeded the plans across all metrics," CEO Jaidev Janardana told CNBC in an interview Wednesday. He said the strong performance is coming off the back of gradually improving sentiment in the U.K. economy, where Zopa operates exclusively.