Zopa secures £75m led by IAG Silverstripe to fund balance sheet growth and acquisitions
The funding round was led by IAG Silverstripe and will support the bank as it targets full-year profitability.
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 £75m in a funding round led by existing backer IAG Silverstripe. The fresh capital will be deployed to support the expansion of the company balance sheet and facilitate potential mergers and acquisitions activity in the near future. Despite broader macroeconomic headwinds, the London-based lender continues to scale its operations and advance towards full-year profitability following several profitable months last year.
The latest equity injection reinforces the institution's unicorn valuation and validates its sustainable approach to credit risk. Zopa combines digital-first capabilities with extensive lending experience, having attracted significant deposits and loan volumes since transitioning to a fully licensed banking model.
From the founder
"Today’s equity round reaffirms the support of our investors despite the challenging economic environment. It is a clear validation of Zopa’s responsible, sustainable and profitable approach to lending, our strong unit economics, and our vision to build Britain’s best bank."
Jaidev Janardana
CEO at Zopa
Use of funds
- 01Fund acquisitions
- 02Scale operations
