Zopa Funding News- UK Fintech Zopa Raises £80Mn In First LSE bond Listing

This is Zopa’s first bond listing on the LSE, and it was oversubscribed, with over 20 new and existing investors taking part.

The money raised is a type of funding called Additional Tier 1 capital, which helps banks meet capital requirements. Importantly, it doesn’t reduce the ownership shares of existing investors.

This comes six months after Zopa raised over €80 million (£66 million) to support the launch of its current account.

Although Zopa has been mentioned as a possible IPO candidate, the company said going public is not a priority right now due to uncertainty in the stock market.

Steve Hulme, CFO at Zopa Bank said: “Our latest capital raise is another strong vote of confidence in Zopa’s momentum and model.

"Following a successful equity round just six months ago, this non-dilutive capital strengthens our balance sheet and positions us firmly on the starting line for our Bank Account launch."

About Zopa Bank

Zopa Bank is a digital bank based in the UK that offers savings accounts, personal loans, and credit cards. It started in 2005 as the world’s first peer-to-peer lending platform and became a fully licensed bank in 2020. Although Zopa closed its peer-to-peer lending service in 2021, it still provides a range of financial products to its customers.