6 December 2024

Zopa secures £68m in equity funding led by A.P. Moller Holding to support product expansion.

The investment round was led by A.P. Moller Holding and will fund the upcoming current account and artificial intelligence initiatives.

£68.0M

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.

Digital bank Zopa has secured £68m in an equity funding round led by A.P. Moller Holding, with backing from existing investors. The capital will support the firm as it prepares to launch a flagship current account and a generative artificial intelligence proposition in the coming year.

The business has demonstrated strong financial performance, expecting to double profits on a 35% revenue increase. Operating since launching its banking entity, Zopa continues to expand its product offerings through strategic partnerships and organic growth.

From the founder

"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."

Jaidev Janardana

CEO at Zopa

Investor perspective

"We are excited to support Zopa on its journey to revolutionize the UK’s financial services industry. Zopa’s remarkable customer centricity enables it to deliver lasting value and positive impact in the financial lives of millions of UK consumers. Today’s investment also reflects our confidence in Zopa’s robust and profitable business model that aligns with our commitment to sustainable, long-term growth."

Chetan Mehta

Head of Growth Equity, A.P. Moller Holding