{"id":565539,"date":"2024-12-09T12:36:27","date_gmt":"2024-12-09T11:36:27","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&p=565539"},"modified":"2024-12-09T12:36:27","modified_gmt":"2024-12-09T11:36:27","slug":"zopa-bank-raises-e80m-ahead-of-current-account-launch","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/zopa-bank-raises-e80m-ahead-of-current-account-launch\/","title":{"rendered":"Zopa bank raises \u20ac80m ahead of current account launch"},"content":{"rendered":"

\"ZopaZopa has raised \u20ac80 million (GBP 68 million<\/a>) in an equity funding round led by A.P. Moller Holding, with participation from existing investors. The funding will support Zopa\u2019s growth as it prepares to launch its flagship current account in 2025 and a GenAI proposition that aims to transform how people interact with their money.<\/p>\n

Some of Zopa\u2019s innovations enable customers to improve their financial health, gain access to better-priced credit, access market-leading saving products, and transfer card balances in a way that helps pay down credit faster.<\/p>\n

It recently partnered with Britain\u2019s largest electricity supplier, Octopus Energy, to enter the UK\u2019s \u00a323 billion renewable energy market and with retail giant John Lewis<\/a> to offer personal loans directly to its 23 million customers.<\/p>\n

Jaidev Janardana, CEO at Zopa Bank,<\/strong> said, \u201cToday\u2019s fundraise validates our financial performance and growth potential. Since launching our bank in 2020, we\u2019ve consistently offered financial products that offer great value and ease to our customers, supporting our vision to build Britain\u2019s best bank. We are thrilled to have investors who share our excitement at the opportunity to serve more customers across more product categories as we aim to become the go-to bank for millions of consumers.\u201d<\/p>\n

Chetan Mehta, Head of Growth Equity at A.P. Moller Holding<\/strong>, added, \u201cWe are excited to support Zopa on its journey to revolutionise the UK\u2019s financial services industry. Zopa\u2019s remarkable customer-centricity enables it to deliver lasting value and a positive impact on the financial lives of millions of UK consumers. Today\u2019s investment also reflects our confidence in Zopa\u2019s robust and profitable business model that aligns with our commitment to sustainable, long-term growth.\u201d<\/p>\n

Zopa blends the agility of digital banking with 20 years of lending expertise, having lent more than \u00a313 billion to consumers in the UK to date. Since launching its bank in 2020, Zopa has attracted more than \u00a35 billion in deposits and currently has \u00a33 billion in loans on its balance sheet. It has close to 850 employees and one of the highest employee satisfaction scores in the UK FinTech industry.<\/p>\n","protected":false},"author":35737,"featured_media":535584,"parent":0,"template":"","categories":[11376,11387,11370],"tags":[48444,12609,18633,48445,11508,24235,11515,28958,40090,12963,23284,11406,14187,23603],"class_list":["post-565539","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-digital-banking","category-investment-management","category-wealth-management-and-private-banking","tag-a-p-moller-holding","tag-current-account","tag-digital-bank","tag-equity-finance","tag-europe","tag-financial-health","tag-fintech","tag-fintech-funding","tag-genai","tag-personal-finance","tag-savings-app","tag-uk","tag-zopa","tag-zopa-bank"],"acf":[],"yoast_head":"\nZopa bank raises \u20ac80m ahead of current account launch<\/title>\n<meta name=\"description\" content=\"Zopa has raised \u20ac80 million (GBP 68 million) in an equity funding round led by A.P. 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