The financing represents the first part of its current fundraising round, according to a post on the company blog, and comes amid reported growth for the sector and the company – including full-year profitability in Zopa’s P2P business in 2017.
With growing concern from regulatory authorities such as the Financial Conduct Authority over the appropriateness of loan-based crowdfunding and P2P lending as an investment for average investors, adding retail deposits via a challenger bank is said to provide additional funding support for Zopa’s operations.
Zopa announced a milestone in February, when its investor community lent its three billionth pound to UK customers, according to the company blog. Zopa has now raised a total of more than USD 169 million in funding. The company’s investors include Bessemer Venture Partners, Northzone, Augmentum Capital, and Wadhawan Global Capital.
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