Augmentum Fintech Plc – £4m investment in Zopa
February 2, 2023
Augmentum Fintech plc
£4 million investment in Zopa
Augmentum Fintech plc (LSE: AUGM) (“Augmentum”), Europe’s leading listed fintech fund, announces that it has made a further £4m investment in digital bank, Zopa (www.zopa.com), as part of a £ 4 million. 75 million financing round together with other existing investors.
The money will be used to support London-Head office for Zopa’s next phase of growth, meeting the capital requirements of its growing balance sheet, and supported M&A activity.
Since being awarded a UK banking license in 2020, Zopa has attracted £3 billion in deposits, more than £2 billion in balance sheet loans and issued more than 400,000 credit cards. Despite the challenging macroeconomic environment, Zopa continues to grow revenue by more than 100% year-on-year1driven by the continued expansion of its range of digital-first financial products, and became profitable in April 2022.
Zopa was named “Bank of the Year” 2022 at the AltFi Awards, and previously “Best Personal Loan Provider” and “Best Credit Card Provider” at the British Bank Awards.
Tim LeveneCEO of Augmentum Fintech, said: “This funding round marks the start of the next chapter for Zopa and we are delighted to support their growth. The Zopa team has continued to execute on its growth plans despite an uncertain macro backdrop, bolstered by digital capabilities world-class and 17 years of lending experience.
Notes:
1 As in 30 November 2022.
Requests:
| Augmentum Fintech Tim Levene, portfolio manager Georgie Hazell Kivell, marketing and IR |
+44 (0)20 3961 5420 [email protected] |
| Quill PR Press and media |
+44 (0)20 7466 5050 [email protected] |
| Peel Hunt LLP Liz Yong, Luke Simpson, Huw Jeremy (Investment bank) |
+44 (0)20 7418 8900 |
| Singer Capital Markets Harry Gooden, Robert Peel, Alaina Wong (Investment bank) |
+44 (0)20 7496 3000 |
| Frostrow Capital LLP Paul Griggs, Company Secretary |
+44 (0)20 3709 8733 |
About Augmentum Fintech
Augmentum invests in fast-growing fintech companies that disrupt the financial sector. Augmentum is the UK’s only listed investment company focused on the fintech sector in the UK and wider Europewhich launched on the main market of the London Stock Exchange in 2018, giving companies access to patient capital and support, unfettered by conventional fund timelines and giving public market investors access to a largely privately held investment sector during its prime growth period.
Neither the content of any website referred to in this announcement nor the content of any website accessible from hyperlinks is incorporated into, or forms part of, this announcement.
