Plata Finance, the Fintech that acquired Zopa’s loan portfolio, has published its full year annual report including financial statements.
Plata is an online lender that originates loans while enabling institutional investors and UK-based individual “pre-screened” investors to participate in securities offerings.
Plata reports that servicing fees and commissions increased from £4.3 million in 2022 to £14.2 million in 2023.
After tax profit jumped from £268,000 in 2022 to £4.742 million in 2023. Plata paid a dividend of £4.4 million to its holding company at the end of 2023. The distribution included the settelemtn of intercompany debt in the amount of £4.071 million
The strategic comments about Plata operations state that directors believe the company is well-positioned for growth and that it has sufficient financial resources to continue for the 12 months following the signing of the report which is April 24, 2024.
Auditors do note in the report that they were unable to obtain all the information required for their audit.
Zopa began its existence as a P2P lender and then shifted focus to become a UK-based digital bank. Zopa sold its loan operations in early 2022.
