Funding round
Zopa Growth
Reported as "Growth Equity"
Zopa, which works in digital banking platform services in London, raised $300M in a Growth round announced on 19 Oct 2021, led by SoftBank Vision Fund and Softbank, at a $1.00B post-money valuation. 7 firms took part. It is Zopa's second venture round on record; the one before was a Growth in Nov 2018.
$300M
Amount raised
220,000,000 GBP converted
$1.00B
Post-money valuation
$700M pre-money
7
Investors
2 leads
30%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Zopa at $1.00B after the new money. The $300M bought investors about 30% of the company. It came 35 months after Zopa's Growth. It is 64% of the $471M Zopa has raised in the venture rounds on record. Zopa raised again 16 months later: a Growth round of $93M in Feb 2023, at $1.00B post-money.
Zopa's funding rounds
Zopa has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
SoftBank Vision Fund and Softbank led the round with 5 other firms.
Lead investors
- SoftBank Vision Fund backs 234 venture-backed companies new investor
- Softbank
Also in the round
- backs 18 venture-backed companies new investor
- backs 3 venture-backed companies new investor
- backs 104 venture-backed companies new investor
- backs 8 venture-backed companies new investor
- Chimera Capital new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations and working capital.
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Growth rounds in Banks & ATMs within a year either side disclosed an amount; the median was $109M, and this round was 2.8 times the median. The closest in time, other companies' Growth rounds in Banks & ATMs:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Varo Banks & ATMs | 9 Sep 2021 | $510M | $2.50B | Lone Pine Capital |
| Monzo Banks & ATMs | 7 Jan 2022 | $100M | $4.50B | not named |
| Banks & ATMs | 21 Feb 2022 | $101M | not disclosed | BBVA |
| Cross River Banks & ATMs | 30 Mar 2022 | $620M | $3.00B | Eldridge and Andreessen Horowitz |
| Banks & ATMs | 21 Mar 2022 | $230M | not disclosed | Apax Partners |
| Starling Banks & ATMs | 26 Apr 2022 | $166M | not disclosed | not named |
| Banks & ATMs | 23 Feb 2021 | $109M | not disclosed | not named |
| Varo Banks & ATMs | 18 Feb 2021 | $63M | not disclosed | Russell Westbrook Enterprises |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Zopa raise in its Growth round?
Zopa raised $300M in its Growth round, announced in Oct 2021.
Who led Zopa's Growth round?
SoftBank Vision Fund and Softbank led it, with Augmentum Fintech, Silverstripe, Northzone, Davidson Kempner and Chimera Capital.
What was Zopa's valuation at the Growth round?
$1.00B post-money ($700M pre-money).
How does it compare with other Growth rounds in Banks & ATMs?
9 Growth rounds in Banks & ATMs within a year either side disclosed an amount; the median was $109M, and this round was 2.8 times the median.
Did Zopa raise again after this round?
Yes: a Growth round in Feb 2023 of $93M at $1.00B post-money.