A&O advising Zopa on its USD300 million fundraising led by Softbank Vision Fund 2
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Allen & Overy is advising digital bank Zopa on its latest round of fundraising. The bank, which was the world’s first peer-to-peer lender and is one of the UK’s newest digital banks, has raised USD300m (GBP 220m) in a round led by Softbank Vision Fund 2.
The funding will help Zopa drive the next phase of its growth and meet the capital requirements of a rapidly growing balance sheet as the bank continues with its plan to become the strongest performing digital bank for savings and lending in the UK.
With Softbank Vision Fund 2 taking the lead, the fundraising round was also supported by Chimera Abu Dhabi. Further support came from existing Zopa investors IAG Silverstripe, Davidson Kempner Capital Management LP, NorthZone, and Augmentum Fintech.
The announcement of this latest round of fundraising illustrates A&O’s continued long-term role in Zopa’s growth story, having previously advised on its launch and granting of a full UK banking licence in June 2020.
We’re incredibly proud of our long-standing relationship with Zopa and to have been part of this exciting next stage of their growth. We can’t wait to see what the future holds for Zopa and its team.
Will Samengo-Turner, A&O Corporate M&A partner
The A&O team is led by partner Will Samengo-Turner with senior associate Eimear Coady.