SoftBank is an investor in both firms. Zopa said the latest fundraising would be its last before a planned initial public offering. Janardana is aiming to take the business public by the fourth quarter of But a stock market debut will only happen once Zopa has shown a "consistent track record of profitability," he said. The U. Reforms proposed earlier this year would see London relax its rules around blank-check companies and founder-friendly share structures.
Zopa is one of the few fintechs in the social lending space that still runs a peer-to-peer marketplace. Asked whether Zopa could eventually retire its P2P division, Janardana said the firm continues to review the market. And some of those things are really helpful in our future strategy. Skip Navigation. Investing Club. Key Points. In this article. Job Title:. Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday. AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector.
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Zopa is, relatively speaking, not a new kid on the block, less neo than some of the other neobanks making waves at the moment. That was the bulk of the business until the company started, in , to set its sights expanding to new product horizons with the launch of a bank.
That finally happened last year. The company plans to use the funding to continue expanding the products that it offers to its customers, which will expand on the theme of providing tools to consumers to help them build and manage their savings better. It will also be looking at ways of helping consumers pay off credit cards, rather than enabling the kind of balance transfers between cards that are the norm today.
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British digital bank Zopa has raised £m in a funding round ahead of plans to list in London next year. The deal, led by SoftBank's Vision. Digital lender Zopa announced it hit profitability for the first time ever last year but warned the firm may be forced to push its IPO into. Zopa is setting its sights on a IPO Over the past 16 years, Zopa has gone from peer-to-peer lender to digital bank, dishing out £6bn.