UK digital bank Zopa looking to raise about GBP100mln ahead of a possible IPO

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UK digital bank Zopa is looking to raise about GBP100mln ahead of a possible initial public offering sometime before the end of next year, reports say.


It has hired JP Morgan as an advisor on what is expected to be its last funding before it launches a public flotation, probably in about 18 months’ time, Sky News reported, citing sources.


Zopa is targeting a valuation after the capital injection of more than GBP500mln, according to investors who have been approached about the fundraising, and if the company continues to grow ahead of an IPO it could become the UK’s latest ‘unicorn’ – a startup valued at over $1bn on listing.


READ: UK becomes fertile breeding ground for tech unicorns


Zopa started life as a peer-to-peer lender in 2005 before launching Zopa bank in June 2020.

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