Zopa reportedly in talks to raise $100m ahead of IPO
Following a $300m funding round last October, Zopa now looks set for another big raise ahead of its plans to go public.
Rounding off a big year for Zopa, it looks like the digital bank is looking to raise another round of funding ahead of seeking a public listing.
Sources told the news site that a number of blue-chip financial institutions were involved in the discussions.
According to one investor that spoke to Sky News, the fundraising is expected to value the bank in excess of the roughly £750m valuation it got almost a year ago.
A spokesperson for Zopa told AltFi that as the bank continues to grow, raising additional capital is part of the journey.
They said there is currently nothing to announce, however.
The consumer lender hit profitability just 21 months later and saw revenues more than double last year to £70.5m as of July, with lending rising by more than 400 per cent.
“The markets are not there — not for fin, not for tech,” he said.
“We will just have to wait for when the markets are in the right place,” he added.
This round would add to the huge $300m the bank raised last October in a “pre-IPO” funding round led by Japanese telecoms giant Softbank.
Maybe the right time is approaching for Zopa and the markets are right, or perhaps it is just getting prepped with some fresh funding for when the time does come.