Funding round
Zopa Growth
Reported as "Growth Equity"
Zopa, which works in digital banking platform services in London, raised $93M in a Growth round announced on 2 Feb 2023, led by Existing Investors, at a $1.00B post-money valuation. 2 firms took part, 2 of them already investors. It is Zopa's third venture round on record; the one before was a Growth in Oct 2021.
$93M
Amount raised
75,000,000 GBP converted
$1.00B
Post-money valuation
2
Investors
1 lead
1.0x
Step-up from the Growth
$1.00B in Oct 2021
9.3%
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, 1.0 times the $1.00B of its Growth (Oct 2021). The $93M bought investors about 9.3% of the company. It came 16 months after Zopa's Growth. It is 20% of the $471M Zopa has raised in the venture rounds on record. No later venture round is on record for Zopa.
Zopa's funding rounds
Zopa has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Existing Investors led the round with 1 other firm. SoftBank Vision Fund and Existing Investors had backed Zopa before.
Lead investor
- Existing Investors existing investor
Also in the round
- SoftBank Vision Fund backs 234 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
10 Growth rounds in Banks & ATMs within a year either side disclosed an amount; the median was $106M, and this round was close to the median. The closest in time, other companies' Growth rounds in Banks & ATMs:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Banks & ATMs | 9 Feb 2023 | $38M | not disclosed | not named |
| Banks & ATMs | 10 May 2023 | $55M | not disclosed | not named |
| Banks & ATMs | 24 Jul 2023 | $111M | $1.83B | not named |
| Banks & ATMs | 1 Aug 2022 | $30M | not disclosed | not named |
| Starling Banks & ATMs | 26 Apr 2022 | $166M | not disclosed | not named |
| Banks & ATMs | 19 Dec 2023 | $125M | not disclosed | J.C. Flowers & Co. |
| Banks & ATMs | 29 Dec 2023 | $35M | not disclosed | not named |
| Cross River Banks & ATMs | 30 Mar 2022 | $620M | $3.00B | Eldridge and Andreessen Horowitz |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Zopa raise in its Growth round?
Zopa raised $93M in its Growth round, announced in Feb 2023.
Who led Zopa's Growth round?
Existing Investors led it, with SoftBank Vision Fund.
What was Zopa's valuation at the Growth round?
$1.00B post-money.
How does it compare with other Growth rounds in Banks & ATMs?
10 Growth rounds in Banks & ATMs within a year either side disclosed an amount; the median was $106M, and this round was close to the median.