Tagged: zopa

UK’s Zopa Bank Enters Renewable Energy Market with Octopus Deal and Regulated BNPL

Zopa Bank has reportedly entered the UK’s £23 billion renewable energy market, making its suite of fully regulated BNPL and retail finance products available to Octopus Energy customers across the UK. The deal will see Zopa finance the purchase and “installation of Octopus solar panels… Read More

UK’s Digital Bank Zopa Reports Over £4 Billion in Customer Deposits

Zopa Bank, which began operations as a P2P lending platform but has evolved into a digital bank, has reportedly surpassed £4 billion in customer deposits. Zopa Bank says it achieved this milestone in under 4 years since acquiring its banking license. It has helped that… Read More

UK’s Digital Bank Zopa Reports First Full Year Profit

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

UK’s Digital Bank Zopa Introduces Cash ISA, Reports Surpassing £250M Revenue ARR

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

Zopa, ClearScore Initiative Pledge2025 Tops 10 Million “Actions Campaign Goal”

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

UK’s Digital Bank Zopa Secures £75M, Exceeds 1M Customers

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

UK’s Digital Bank Zopa Releases Update on Financial Performance

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

Zopa Comments on Bank of England Decision to Raise Rates 25 bps

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

UK’s Digital Bank Zopa Appoints New CTO, COO

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

Digital Banking: Zopa Bank Appoints Deutsche Bank’s Former People Chief to Board

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

Former Experian Exec Joins Fintech DivideBuy As Enterprise Business Development Manager

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

UK’s Digital Bank Zopa Acquires BNPL DivideBuy in 2023 Embedded Finance Push

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

UK’s Digital Bank Zopa Secures £75M to Accelerate Growth in 2023

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

Digital Banking: Zopa Bank Crosses £3B Deposits Milestone

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

Zopa: Pledge2025.org Doubles, Now Has 22 Fintechs

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

Countering Inflation, ZOPA Raises Entry Pay by 20%

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

Zopa, Others Aim to Combat Cost of Living Challenge: 2025 Fintech Pledge

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

Digital Bank Zopa Partners with ClearScore in Move to Improve Financial Resilience for Users

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

Digital Bank Zopa Tops £2 Billion in Deposits

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

More BNPL: Zopa Enters Hot Credit Sector with Focus on Big Ticket Items

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

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