Zopa
Total amount raised
$458.9 Millions
Latest funding date
February, 2023
Zopa
Location
Title
Zopa has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a range of financial products, including loans, credit cards, and savings accounts.
Keep reading to explore the intricacies of Zopa's fundraising journey and the investors backing this innovative platform.
What Is Zopa?
Zopa, founded in 2005, is headquartered in London, England. The company was established with the goal of creating better financial solutions for everyone.
Specializing in personal loans, credit cards, and savings accounts, Zopa aims to provide fair and transparent financial products. Their offerings also include car finance options and tools to help customers manage their finances.
While the names of the founders and the number of employees are not specified, Zopa's commitment to honesty and trust has made it a notable player in the financial sector.
How Much Funding Has Zopa Raised?
- Series A
- Amount Raised: $1,000,000
- Date: January 2005
- Motivation Behind the Round: To launch the platform and begin operations.
- Series B
- Amount Raised: $15,000,000
- Date: March 2006
- Lead Investors: Bessemer Venture Partners, Benchmark Capital, Wellington Partners
- Motivation Behind the Round: To support Zopa's operations and expansion plans, including launching in California.
- Series B
- Amount Raised: $5,000,000
- Date: July 2006
- Lead Investors: Tim Draper (Draper Fisher Jurvetson), Rowland Family
- Motivation Behind the Round: To match the funding amount raised by its competitor, Prosper, and for further expansion.
- Series C
- Amount Raised: $12,900,000
- Date: March 2007
- Lead Investors: Bessemer Venture Partners
- Motivation Behind the Round: To help Zopa expand in the U.S. market.
- Series D
- Amount Raised: Undisclosed
- Date: December 2012
- Motivation Behind the Round: General growth and expansion.
- Series E
- Amount Raised: $15,000,000
- Date: January 2014
- Motivation Behind the Round: To scale up operations in the UK, potentially through a major marketing campaign.
- Unknown Round
- Amount Raised: $25,000,000
- Date: January 2014
- Lead Investors: Arrowgrass Capital Partners
- Motivation Behind the Round: To scale up operations in the UK, potentially through a major marketing campaign.
- Unknown Round
- Amount Raised: $70,000,000
- Date: December 2015
- Motivation Behind the Round: To support growth and expansion.
- Series F
- Amount Raised: $32,000,000
- Date: June 2017
- Motivation Behind the Round: To enhance product offerings and expand market reach.
- Series G
- Amount Raised: $44,000,000
- Date: August 2018
- Motivation Behind the Round: To accelerate growth and innovation.
- Series G
- Amount Raised: $16,000,000
- Date: November 2018
- Motivation Behind the Round: To continue scaling operations and product development.
- Unknown Round
- Amount Raised: $130,000,000
- Date: December 2019
- Motivation Behind the Round: To support the launch of new financial products and services.
- Series Venture Round
- Amount Raised: $93,000,000
- Date: February 2023
- Motivation Behind the Round: To meet the capital requirements of its balance sheet and support M&A dealmaking.
Total Amount Raised: $458.9M
Current Valuation: $500M+ (~estimated)
Key Investors
- Arrowgrass Capital Partners
- Details: Arrowgrass Capital Partners is an alternative asset manager headquartered in London, managing approximately $4.6 billion in assets. Henry Kenner, CEO of Arrowgrass, has joined Zopa's board as a non-executive director.
- Investment Focus Areas: Alternative asset management, hedge funds, financial services
- Notable Investments: Specific notable investments are not mentioned in the sources.
- Augmentum Capital
- Details: Augmentum Capital is a venture capital firm that led Zopa's December 2012 investment round. It is backed by RIT Capital Partners PLC, with Jacob Rothschild and family as substantial investors.
- Investment Focus Areas: Venture capital, fintech, technology
- Notable Investments: Interactive Investor, BullionVault, Seedrs
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a well-known venture capital firm that has invested in Zopa multiple times. They focus on early-stage and growth-stage companies.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: LinkedIn, Shopify, Pinterest
- Benchmark Capital
- Details: Benchmark Capital is a venture capital firm that has backed Zopa and its competitor, Prosper. They are known for their early-stage investments in technology companies.
- Investment Focus Areas: Technology, internet, software
- Notable Investments: Uber, Twitter, eBay
- Wellington Partners
- Details: Wellington Partners is a venture capital firm that has invested in Zopa. They focus on technology and life sciences companies at various stages of development.
- Investment Focus Areas: Technology, life sciences, digital media
- Notable Investments: Spotify, Hailo, Quanta
What's Next for Zopa?
With a fresh injection of £75 million, Zopa is poised to capitalize on significant opportunities in the fintech sector. The funds will bolster their balance sheet and fuel mergers and acquisitions, setting the stage for expansive growth. The company’s digital-first approach to credit cards, loans, and savings products aligns well with industry trends favoring online financial services.
Future fundraising efforts may be on the horizon as Zopa seeks to sustain its momentum and explore new markets. However, challenges such as regulatory hurdles and intense competition from other fintech players could pose obstacles. Navigating these complexities will be crucial for Zopa’s continued success.
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