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About Zopa
Industries
Fintech
Financial Services
Company Size
501-1,000
Company Stage
Late Stage VC
Total Funding
$931M
Headquarters
London, United Kingdom
Founded
2005
Overview
Zopa operates in the peer-to-peer lending market, offering personal loans, savings accounts, credit cards, and car finance. By connecting individual lenders directly with borrowers through its online platform, Zopa allows for a more efficient lending process that often results in better rates for both parties. The platform uses technology to facilitate quick loan approvals, with pre-approval often taking just 12 seconds, thanks to a 'soft' credit check that does not affect credit scores. Unlike traditional banks, Zopa's model focuses on providing competitive interest rates and a streamlined experience for users. The company's goal is to make borrowing and saving more accessible and affordable while ensuring compliance with regulatory standards in the UK.
Simplify's Take
What believers are saying
- Zopa secured £68M funding to expand its fintech offerings and launch current accounts.
- Partnership with Google Cloud for Gen AI hackathon boosts Zopa's technological capabilities.
- Zopa aims to double profits and increase revenues by 35% in 2024.
What critics are saying
- Increased competition from fintech companies could erode Zopa's market share.
- Potential regulatory changes in P2P lending could impact Zopa's operations.
- Economic uncertainties may affect consumer borrowing and saving behaviors, impacting Zopa's revenue.
What makes Zopa unique
- Zopa pioneered P2P lending, offering direct lending between individuals since 2005.
- Zopa's quick loan pre-approval process, often within 12 seconds, sets it apart.
- Zopa's strategic partnerships with major UK retailers enhance its market presence.
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Funding
Total Funding
$931M
Above
Industry Average
Funded Over
9 Rounds
Bessemer Venture Partners
Benchmark
SoftBankBenefits
Hybrid Work Options
Flexible Work Hours
Remote Work Options
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↑ 0%Victoria Parker has joined Britvic plc in the newly formed role of Retail Category & Commercial Delivery Director.
The UK tech scene raised £147.7M between Dec 2-6, a fourfold increase from the previous week. Notable deals include Zopa securing £68M to expand its fintech offerings. Lawhive, a legal AI tool, and Argo Blockchain, a crypto mining firm, also closed funding rounds, though amounts were undisclosed. This surge highlights investor confidence in UK tech, particularly in fintech, legal tech, and crypto sectors.
Zopa partnered with the team at Google Cloud to run a joint Gen AI hackathon.
This week's UK tech funding saw £147.7m raised, a fourfold increase from last week. Key deals include Zopa securing £68m to expand into current accounts by 2025, 9Fin raising £40m for its debt capital markets analytics platform, Lawhive obtaining £32m for its AI legal tool, Argo Blockchain raising £4.2m for its Bitcoin mining operations, and Cerve securing £3.5m to digitize the food supply chain.
Digital bank Zopa has raised just over €80 million (GBP £68 million) in an equity funding round led by A.P. Moller Holding, with significant participation from existing investors.
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About Zopa
Industries
Fintech
Financial Services
Company Size
501-1,000
Company Stage
Late Stage VC
Total Funding
$931M
Headquarters
London, United Kingdom
Founded
2005
Zopa is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today