Digital bank Zopa in talks to raise another $100m from investors

Digital bank Zopa in talks to raise another $100m from investors
Digital bank Zopa in talks to raise another $100m from investors 30 September 2022 10:57 AM: Zopa, the UK-based digital bank, is in talks to raise another round of funding in what is expected to be the last capital injection into the business before it seeks a public listing.

Sky News has learnt that Zopa is in detailed negotiations with new and existing shareholders about raising approximately $100m to fund its continued expansion.

Sources said a number of blue-chip financial institutions were involved in the discussions.

The fundraising is expected to value Zopa slightly in excess of the roughly-£750m price tag it attracted nearly a year ago, according to one investor.

That would represent a significant achievement in a funding environment for technology companies which has become increasingly difficult during the course of 2022.

Zopa was founded in 2004 and became a pioneer in the burgeoning peer-to-peer sector.

It has since pivoted to focus on more mainstream banking services.

More from Business

It experienced a rocky period in 2019, however, and was forced to scramble to raise £140m in order to avoid losing its fledgling banking licence.

New investors in that round were led by IAG Capital Partners, a US-based private investment firm, while it has also been backed by existing long-term shareholders such as the listed group Augmentum Fintech.


Last year, it brought in the SoftBank Vision Fund II as a substantial shareholder.

Zopa declined to comment.

Get the latest news delivered to your inbox

Follow us on social media networks

c 1976-2021 Arab News 24 Int'l - Canada: كافة حقوق الموقع والتصميم محفوظة لـ أخبار العرب-كندا
الآراء المنشورة في هذا الموقع، لا تعبر بالضرورة علي آراء الناشرأو محرري الموقع ولكن تعبر عن رأي كاتبيها
Opinion in this site does not reflect the opinion of the Publisher/ or the Editors, but reflects the opinion of its authors.
This website is Educational and Not for Profit to inform & educate the Arab Community in Canada & USA
This Website conforms to all Canadian Laws
Copyrights infringements: The news published here are a feed from different media, if there is any concern,
please contact us: arabnews AT and we will remove, rectify or address the matter.