21 October 2017
visit www.atos.net

Zopa raises £32 million to support challenger bank build-out

01 June 2017  |  7224 views  |  0 chess

P2P pioneer Zopa has raised £32 million in funding to help support the build-out of the company’s technology infrastructure and product range in preparation for the submission of its bank licence application later this year.

The investments were led by India's Wadhawan Global Capital Pvt Ltd, and Northzone, a European venture capital fund specialising in fast growth technology companies, and early backer of companies such as Spotify and iZettle.

Last November, Zopa announced plans to launch a next generation bank offering FSCS-protected deposit accounts for savers, a range of peer-to-peer investment products for investors, and personal loans, car finance, and credit cards for people looking to borrow.

Jaidev Janardana, Zopa CEO, says: "This investment gives us additional resources to continue our growth, support the launch of our next generation bank, and bring our award-winning products to even more people in the UK."

The funding follows a breakout year for Zopa, which has facilitated over £800m in personal loans to UK consumers in the past 12 months and in January became the first European peer-to-peer lender to make £2bn worth of loans.

Jeppe Zink, Partner at Northzone says: “We believe Zopa is a blueprint of what the modern, technology-first bank will, and should look like, based on transparency and customer service. Zopa is already a trailblazer in the market, and is in a strong position to build on this, with the launch of their new products.”
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Zopa's Giles Andrews to take the chair at MarketInvoice

Zopa's Giles Andrews to take the chair at MarketInvoice

20 March 2017  |  4073 views  |  0 comments | 2 tweets | 3 linkedin
P2P pioneer Zopa applies for banking license

P2P pioneer Zopa applies for banking license

16 November 2016  |  7143 views  |  0 comments | 9 tweets | 11 linkedin
Pariti taps into Zopa API to help millennials pay off card debt

Pariti taps into Zopa API to help millennials pay off card debt

07 September 2016  |  6116 views  |  0 comments | 9 tweets | 2 linkedin
Zopa targets £500m valuation

Zopa targets £500m valuation

11 December 2015  |  5722 views  |  0 comments | 12 tweets | 4 linkedin
Zopa hits £1bn lending mark

Zopa hits £1bn lending mark

18 August 2015  |  6795 views  |  0 comments | 16 tweets | 9 linkedin
Metro Bank to offer consumer loans via Zopa

Metro Bank to offer consumer loans via Zopa

19 May 2015  |  10729 views  |  1 comments | 30 tweets | 23 linkedin
Uber and Zopa team on car loans for drivers

Uber and Zopa team on car loans for drivers

06 May 2015  |  8719 views  |  0 comments | 21 tweets | 13 linkedin
Zopa raises £15 million funding

Zopa raises £15 million funding

30 January 2014  |  5352 views  |  1 comments | 6 tweets | 2 linkedin
Rothschild buys Zopa stake

Rothschild buys Zopa stake

10 December 2012  |  6058 views  |  0 comments | 7 tweets | 3 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.innotribe.comRegister now

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
8954 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8680 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7753 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7234 views comments | 10 tweets | 22 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
6846 views comments | 14 tweets | 23 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job