Zopa is now a unicorn following a $300mn funding round.
In Brief:
UK based digital bank and peer-to-peer lender Zopa raised $300mn in a round led by Softbank’s Vision Fund 2.
It also included Chimera Capital, IAG Silverstripe, Davidson Kempner, NorthZone and Augmentum Fintech.
This brings Zopa’s valuation to $1bn.
What does this mean?
Since it started in the peer-to-peer lending space, Zopa has added new features and worked to offer full banking services. The business is expected to reach profitability in the next few months, and is discussing an IPO in London.
