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Zopa continues executive revamp in IPO push

Zopa IPO hiring
Image credit: Zopa

Digital bank Zopa is continuing to revamp its leadership team ahead of a planned London IPO, hiring a new chief technology officer and chief operating officer.

The London-based company has hired former Moonpig CTO and Sainsbury’s head of development Peter Donlon, who becomes Zopa’s new chief technology officer. Kate Erb, who has worked for KPMG for 20 years, is the new Zopa COO.

Donlon said: “I am proud to be joining Zopa’s purpose-driven team and look forward to scaling its digitally native offering, reaching even more customers as it continues to grow profitably.”

Zopa’s hiring push started earlier this month with the appointment of Pippa Lambert, who brings experience from Deutsche Bank and Royal Bank of Scotland, to its board. The most recent hires were first reported by CNBC.

Preparation for a listing, which could come as soon as Q4 this year, is being fuelled by a £75m raise, which it also used to acquire the Staffordshire-based BNPL firm DivideBuy.

“I am excited to be joining Zopa’s leadership team as it prepares to serve 5 million customers in the coming years,” said Kate Erb, COO at Zopa.

If the firm does go ahead with a listing in London, it would mark a much-needed win for the British market after Cambridge chip firm Arm opted for a US IPO.

Founders from Revolut and Monzo have lately criticised the attractiveness of the UK markets.

Financial regulators are looking to revamp rules surrounding the process for company listing, including scrapping the choice for a standard or premium listing.

Fintech company CAB Payments this month revealed it would IPO on the London Stock Exchange’s main market for listed securities.