Zopa secures £220m Series H funding led by Softbank Vision Fund 2 to support balance sheet growth
The digital bank has raised £220m in a round led by Softbank Vision Fund 2 to back its ongoing expansion.
Share allotment filed at Companies House
Zopa is a digital bank holding a full banking licence and offering personal loans, credit cards, and savings products. It has attracted over 1.3 million customers and manages substantial deposits.
Zopa has secured £220m in a Series H follow-on funding round led by Softbank Vision Fund 2, with participation from Chimera Abu Dhabi. The financing also drew backing from existing investors including IAG Silverstripe, Davidson Kempner Capital Management, NorthZone, and Augmentum Fintech. Announced at the Global Investment Summit in London, the capital will be deployed to support the balance sheet requirements of the expanding digital bank.
The raise follows a period of rapid balance sheet growth driven by consumer demand for the bank's digital financial products. Zopa launched its banking operations in June 2020 after securing its licence, combining legacy lending experience with contemporary digital offerings. The transaction remains subject to regulatory approvals from the PRA and the FCA, with J.P. Morgan acting as sole placement agent.
Use of funds
- 01Scale operations
