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.
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.
Investor perspective
"We believe Zopa’s fast-growing market penetration reflects high customer demand for adaptable financial services within a usable platform that can be customized to their specific needs. Zopa is fast emerging as a leading player in the UK’s nascent neo banking sector and we are proud to partner with Jaidev and the team on this journey."
Sourav Sen
investor, Softbank Vision Fund 2
Use of funds
- 01Scale operations
Investors
Sourav Sen
Softbank Vision Fund 2
Chimera Abu Dhabi
IAG Silverstripe
Davidson Kempner Capital Management
NorthZone
Augmentum Fintech
