Zopa is proud to announce the successful closure of an equity funding round, raising just over €80 million (GBP £68 million). This significant milestone was led by A.P. Moller Holding alongside support from existing investors.
The funding will fuel Zopa’s ongoing growth and innovation as we prepare to launch two transformative initiatives: our flagship current account in 2025 and a groundbreaking GenAI proposition that redefines how people engage with their finances.
CEO Jaidev Janardana on Zopa’s Achievement
Reflecting on the funding milestone, Zopa CEO Jaidev Janardana shared:
“Today’s fundraise validates our financial performance and growth potential. Since launching our bank in 2020, we’ve consistently offered financial products that provide great value and ease to our customers, supporting our vision to build Britain’s 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.”
Zopa’s Remarkable Growth in 2024
In 2024, Zopa’s customer base exceeded 1.3 million, underscoring our commitment to financial innovation and customer-centric solutions. By offering products that improve financial health, provide competitive savings options, and help pay down credit faster, Zopa continues to make a tangible impact on its customers’ lives.
Our partnerships with leading UK retailers, such as John Lewis, and Octopus Energy highlight our strategic growth. Through these collaborations, we’ve empowered consumers to access green energy solutions and benefit from our regulated BNPL and retail finance products, further enhancing our suite of offerings.
Building Britain’s Best Bank
Zopa seamlessly blends the agility of digital banking with two decades of lending expertise, having facilitated over £13 billion in loans for UK consumers. Since gaining our banking license in 2020, we have:
- Attracted more than £5 billion in deposits.
- Maintained a balance sheet of £3 billion in loans.
- Grown our team to nearly 850 employees with one of the highest satisfaction scores in UK fintech.
Unlike many fintechs or e-money institutions, Zopa holds a full banking license, ensuring compliance with rigorous regulatory standards. Customers’ deposits are safeguarded by the Financial Services Compensation Scheme (FSCS), protecting up to £85,000 per account.
Celebrated Success
Zopa is one of the UK’s most highly rated and recognized financial brands. At the 2024 British Bank Awards, we were honored as the UK’s Best Personal Loan Provider and Best Credit Card Provider, reaffirming our dedication to delivering exceptional products and experiences.
As we advance, Zopa remains steadfast in its mission to transform banking, providing innovative, reliable, and customer-first financial solutions. We look forward to an exciting future as we continue building Britain’s best bank.
