P2P lender Zopa raises £60m

The lender, which is aiming to launch a banking unit, tacked on £16m to a round it had announced in August. Investors were not disclosed but Zopa said new and existing investors participated in the round.

Zopa is currently in the process of obtaining a banking licence and is also considering secured auto lending.

Previous funding
Augentum Capital led a funding round for Zopa in 2012, which was also backed by Bessemer Venture Partners, Forward Investment Partners and Wellington Partners. The amount raised was not disclosed.

Wadhawan Global Capital and Northzone Ventures provided £32m of growth funding to the company in June 2017.

Company
Established in 2005, Zopa is an online lending platform that allows individuals in the UK to access unsecured loans, facilitated by funds provided by individuals and institutions. It generated revenue of £44m in 2017, up 32% on the previous year. However, it reported an overall loss of £4.2m. It is based in London.

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• Topics
• Expansion
• UK / Ireland
• Financials
• United Kingdom
• Fintech
• Venture