Digital bank Zopa looks to raise £100m ahead of IPO

Digital bank Zopa is looking to raise £100m ahead of an IPO over the next 18 months.

US investment bank JP Morgan is advising the fintech firm on the capital injection which would give it a value in excess of £500 million, or £690m.

This would keep it on course to become a “unicorn” – a company valued at $1bn – by the time of its expected flotation in 18 months time, reports Sky News.

The company said it has already become one of the UK’s top ten credit card issuers, attracting more than 100,000 customers in nine months and had also seen strong demand for personal loans and car finance products, while drawing more than £400m in customer deposits.

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Source: Digital bank Zopa looks to raise £100m ahead of IPO – Daily Business