Zopa Bank has raised £80 million in its first London Stock Exchange bond listing as it prepares for the launch of current accounts.
Jefferies acted as Structuring Adviser and Sole Lead Manager to Zopa on the transaction, which was oversubscribed by over two times from 20+ investors.
Having had a successful €80 million equity fundraise in November 2024, the non-dilutive capital strengthens the bank's balance sheet and positions it on the starting line for its bank account launch.
Zopa recently announced a doubling of full year profits before tax to £34.2 million for the financial year ending 31 December 2024 on a 30.2% revenue jump.
Since launching the bank in 2020, it has attracted £5.5 billion in deposits and currently has just over £3 billion loans on balance sheet.