Zopa, the British online lender backed by SoftBank, is expecting significant growth in 2024.
Zopa's revenues reached £222 million ($281.7 million) in 2023, marking a 35% increase year-on-year. This positive outlook is supported by internal unaudited figures, reflecting a strong demand for Zopa's banking services as the U.K. economy shows signs of recovery.
Zopa has been able to maintain growth by being selective in its lending practices and offering higher savings rates than traditional banks.
Zopa plans to launch a current account in 2025, aiming to provide a seamless user experience and competitive savings rates. While Zopa has considered an IPO, it is not an immediate priority. The company remains well-supported by its long-term shareholders and has made strategic hires to enhance its operational capabilities.
Zopa's commitment to innovation and customer-centric solutions positions it as a key player in the competitive digital banking landscape.