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Allen & Overy advises Zopa bank on GBP75m funding round

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Allen & Overy (A&O) has advised digital bank Zopa on its latest funding round that has raised GBP75 million (USD93 million) to drive its next phase of growth, supporting its vision to become Britain’s best bank.

The deal cements and markedly enhances Zopa bank’s Unicorn status, and was led by existing investors.

Zopa bank draws on the best of both digital and legacy banks, combining its strong digital capabilities with 17 years of lending experience and GBP8 billion in personal loans approved.

A&O's team was led by Partner Will Samengo-Turner, who has long-advised Zopa bank. He was supported by Senior Associates Eimear Coady and Charlotte Rowlandson.

Will Samengo-Turner, Partner in A&O’s Corporate team, said: “Zopa bank is one of the UK’s original fintechs – a true innovator - and we’re proud of our long relationship with them. Closing another successful fundraise marks an important next step in their journey and we look forward continuing to support them."