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Zopa, the UK neobank that provides loans, credit cards and savings accounts to some 1.3 million customers, has raised €80 million ($85 million) in equity funding.
Zopa raised €80 million in equity funding led by A.P. Moller Holding, achieving an upround over $1 billion valuation.
KEY POINTS
- Zopa's IPO plans are now indefinitely delayed, with profitability only reached in April 2024, not 2021.
- Artificial intelligence, including generative AI for personalized customer engagement, will be brought to Zopa's front office in 2025.
- Zopa remains focused on the UK market with no immediate plans for international expansion or crypto offerings.
- Unlike many neobanks, Zopa built its platform in-house, enabling unique B2B partnerships like those with Octopus Energy and John Lewis.
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