Tagged: zopa

April 16, 2024 @ 7:03 am By Omar Faridi  |  

Once a top UK peer-to-peer lender and today a digital bank, Zopa Bank has announced its first full year of profitability. Zopa announced a pre-tax profit of £15.8 million for the financial year ending 31 December 2023, up from a pre-tax loss of £26 million for… Read More

February 12, 2024 @ 8:17 am By Omar Faridi  |  

Zopa bank has launched its first Cash ISA account in order to help savers level-up their 2024 finances. Zopa bank says its aim is to “help millions of Brits with an ISA account better save by making the £333 billion sitting in Cash ISAs work… Read More

January 25, 2024 @ 9:20 am By JD Alois  |  

Digital bank Zopa and ClearScore report they have surpassed 10 million consumer actions that aim to boost the financial resilience of UK consumers as part of the 2025 Fintech Pledge. The coalition also hit 50 partners with the addition of SalesForc. The Fintech Pledge had… Read More

September 8, 2023 @ 8:43 am By Omar Faridi  |  

Digital bank Zopa has raised £75 million ($95m) in Tier 2 capital in order “to further accelerate its growth, supporting its vision to become Britain’s best bank.” The funding will ” fuel Zopa’s continuous growth and expansion.” It brings the total capital raised by Zopa… Read More

August 23, 2023 @ 7:17 am By Omar Faridi  |  

Steve Hulme, CFO at Zopa Bank, has shared an update on their financial performance. Last year was an “exceptionally” strong year for Zopa Bank that reportedly “laid the foundations for their strong profitable growth.” The firm’s management added that as people in the UK continued… Read More

August 4, 2023 @ 6:37 am By JD Alois  |  

Yesterday, the Bank of England increased its benchmark rate by 25 basis points (bps) to 5.25%. The decision was anticipated by markets and follows the recent decision of the US Federal Reserve to increase rates as well. The Banks’ Monetary Policy Committee (MPC) voted 6… Read More

June 16, 2023 @ 9:21 am By Omar Faridi  |  

Digital bank Zopa has appointed Peter Donlon and Kate Erb as CTO and COO respectively, pending regulatory approval. Peter and Kate add significant technology and operations experience “to Zopa’s leadership roster as the company matures and enters its next stage of growth to become Britain’s… Read More

June 6, 2023 @ 7:19 am By Omar Faridi  |  

Digital bank Zopa has announced the appointment of Pippa Lambert to its Board, pending regulatory approval. A senior leader “with 25 years of experience at high growth, listed companies, Pippa will Chair Zopa’s Remuneration Committee and oversee the bank’s people agenda including culture, rewards and… Read More

June 4, 2023 @ 11:27 am By Omar Faridi  |  

DivideBuy, which was recently acquired by Zopa Bank, has announced the appointment of Amanda Robinson as its new Enterprise Business Development Manager. DivideBuy’s 60-second checkout and conversion uplift tools “are delivering an increase in credit sales of up to 70%.” In February 2023, UK bank… Read More

February 16, 2023 @ 6:52 am By Omar Faridi  |  

Zopa has announced the acquisition of buy now – pay later (BNPL) platform  DivideBuy. Terms of the transaction were not immediately available. Zopa recently raised £75 million as it gears up for the possibility of more acquisitions. The acquisition is expected to complete in the… Read More

February 2, 2023 @ 8:37 am By Omar Faridi  |  

Digital bank Zopa has raised £75 million ($93m) in order “to drive its next phase of growth, supporting its vision to become Britain’s best bank.” The deal cements and markedly “enhances Zopa bank’s Unicorn status, and was led by existing investors.” The proceeds from the… Read More

January 6, 2023 @ 8:48 am By Omar Faridi  |  

This week Zopa Bank has crossed the £3 billion deposits milestone, while their customers have collectively “opened 150,000 accounts to grow their savings faster in today’s challenging environment.” Zopa’s ambition is “to make the hundreds of billions in “zombie money” sitting idle in UK current… Read More

December 14, 2022 @ 10:11 pm By JD Alois  |  

Zopa reports that ten more companies have joined the 2025 Fintech Pledge or pledge2025.org, which was launched in September aiming to tackle the UK’s cost-of-living challenge. In brief, the organization as grown to 22 since the last announcement in October. The ten new members are… Read More

December 7, 2022 @ 11:34 am By JD Alois  |  

Digital bank Zopa has distributed a note that they are “bucking the trend” and raising entry-level pay by around 20% as other firms are letting people go. Starting pay for entry-level positions now commences at £27,000 – an amount that Zopa states is 25% a… Read More

October 27, 2022 @ 12:28 pm By JD Alois  |  

A Zopa-led coalition of Fintechs has joined to “combat the UK cost-of-living crisis.” Announced today, ten new members have been added to The 2025 Fintech Pledge or Pledge2025.org. The pledge, launched in September 2022, aims to drive 10 million consumer actions by 2025 that build… Read More

September 21, 2022 @ 9:09 am By JD Alois  |  

Zopa, a leading digital bank, has partnered with credit marketplace ClearScore to improve users “financial resilience” as inflation rockets higher, diminishing the purchasing power of the population. Zopa notes that inflation is predicted to hit 13% with no end in sight for the financial pain…. Read More

August 25, 2022 @ 9:13 am By JD Alois  |  

Young digital bank Zopa has surpassed £2 billion in deposits. The bank claims to be one of the fastest challenger banks to top this milestone. Zopa Bank is authorized and regulated by the Prudential Regulation Authority and by the Financial Conduct Authority. Zopa started its… Read More

June 8, 2022 @ 8:18 am By JD Alois  |  

While most of the news was swirling around Apple’s (NASDAQ:AAPL) new buy now – pay later (BNPL) product that allows its users to pay in four equal payments over 6 weeks, digital bank Zopa has announced its spin on BNPL with a focus on big-ticket items. The… Read More

May 4, 2022 @ 9:15 am By JD Alois  |  

Zopa’s “Smart Saver” savings account feature has topped £115 million in 65 days, according to a note from the Fintech. Currently, savers earn 1.455% interest (AER) on these accounts. Zopa’s goal is to create a £225 billion “zombie money” sitting idle in UK current accounts… Read More

April 4, 2022 @ 9:40 am By JD Alois  |  

Zopa Bank, previously Zopa the P2P or Marketplace lender, is now profitable according to a note from the company. The news arrives 21 months after Zopa was approved to operate as a digital bank in the UK. Zopa did not provide details as to how… Read More