Zopa Raises £80 Million Ahead of Current Account Launch

Zopa Bank has secured £80 million in new capital through its first bond listing on the London Stock Exchange, as it gears up to launch current accounts. The bond offering, managed by Jefferies as Structuring Adviser and Sole Lead Manager, attracted strong investor interest, being oversubscribed by more than two times with participation from over 20 investors.

This non-dilutive capital follows Zopa’s €80 million equity raise in November 2024 and significantly bolsters the bank’s balance sheet ahead of its entry into the current account market — a major strategic step in its retail banking expansion.

The funding news comes on the heels of a strong financial performance from Zopa, which recently reported pre-tax profits of £34.2 million for the year ending December 31, 2024 — a doubling from the previous year — alongside a 30.2% increase in revenue.

Since launching as a bank in 2020, Zopa has attracted £5.5 billion in deposits and holds more than £3 billion in loans on its balance sheet, positioning itself as a significant player in the UK’s digital banking sector.