Peer to peer lender Zopa Group is set to receive £130mn capital.
The investment is expected to come from ‘an entity connected to’ IAG Capital Partners and Silverstripe, a vehicle of IAG.
The deal is expected to be confirmed at the beginning of the week.
It is thought the injection will give IAG a majority stake in Zopa.
What does this mean?
The funding will help the company fulfil regulatory capital requirements. The funding is reportedly coming in just before the company’s banking license expires.