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P2P lending company Zopa nabs an additional £16m

Jaidev Janardana Zopa

Zopa has raised an additional tranche of money from some existing and new shareholders.

The company, which offers loans and investments, announced a £44m raise in August this year. It’s now raised an additional £16m as part of that round, bringing its total to £92m.

Zopa says it achieved full year profitability in 2017 for the first time since 2012 and is looking to launch its next-generation bank “soon”.

The investors are not being disclosed but the company is backed by investors including Bessemer Venture Partners, Augmentum Capital, Northzone and Wadhawan Global Capital.

Jaidev Janardana, Zopa CEO, spoke about the fundraise: “This new funding takes us a step closer to realising our vision of being the best place for money in the UK.

“Having served half a million customers to date, Zopa is set to redefine the finance industry once again through our next generation bank to meet a broader set of UK customers’ financial needs,” he added.

Zopa says it’s lent more than £3.7bn in unsecured personal loans to customers in the UK.