Zopa Bank raises €80 million. „We prepare to launch our flagship current account in 2025 and a pioneering GenAI proposition that reinvents how people interact with their money”.

Zopa has raised just over €80 million (GBP £68 million) in an equity funding round led by A.P. Moller Holding and existing investors. 

„The funding will be used to support our continuous growth as we prepare to launch our flagship current account in 2025 and a pioneering GenAI proposition that reinvents how people interact with their money.” – according to the press release. 

Zopa CEO Jaidev Janardana shared his thoughts on this equity funding round:  

“Today’s fundraise validates our financial performance and growth potential. Since launching our bank in 2020, we’ve consistently offered financial products that offer 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.” 

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Since launching its bank in 2020, Zopa has attracted more than £5 billion in deposits and currently has £3 billion loans on balance sheet. It has close to 850 employees and one of the highest employee satisfaction scores in the UK fintech industry. Currently, Zopa Bank has a portfolio of over 1.3 million customers.

Unlike many fintechs or e-money institutions, Zopa holds a full banking license, ensuring it adheres to the same regulatory standards as traditional banks. Customers’ deposits are safeguarded by the Financial Services Compensation Scheme (FSCS), protecting up to £85,000 per account. 

One of the UK’s highest rated and most celebrated financial brands, Zopa Bank was again voted the UK’s Best Personal Loan Provider and Best Credit Card Provider at the 2024 British Bank Awards.