Zopa Secures $85 Million for Expansion and AI Innovation

The UK digital bank plans to double profits in 2024, launch new products, and enhance customer interactions with generative AI.

Zopa raised €80 million ($85 million) in equity funding, led by A.P. Moller Holding, valuing the bank at over $1 billion.
The funding will support the launch of a flagship current account in 2025 and further development of generative AI tools to improve customer financial management.
Zopa expects to double its profits and grow annual revenue by 35% in 2024, following its first full year of profitability in 2023.
The bank has 1.3 million customers, £5 billion in deposits, and £3 billion in loans, with plans to expand its product offerings, including investment ISAs.
Recent partnerships with John Lewis Money and Octopus Energy highlight Zopa's strategy to integrate its financial services into diverse markets.