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 179 days ago
 Source: sifted.eu

European fintech weekly: After a last-minute fundraise, what lies ahead for Zopa and its lending peers

Quick Summary

The issue is that this came with minimum capital requirements, which Zopa came close to slipping below before Wednesday’s last-minute funding bail-out. It’s worth digging into who Zopa are and whether the funding means they’re out of the red. Following a dramatic countdown, UK fintech Zopa last week secured the £140m in funding it needed to keep its preliminary bank license. Details on “Zopa Bank’s” planned products remain vague. To their credit, they’ve overtaken several big banks like Lloyds and RBS who are losing current account customers overall.

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