Zopa Plots GenAI Push with £68m Funding Round

Digital bank Zopa has successfully raised £68 million in a new equity funding round led by A.P. Moller Holding, with significant backing from existing investors. The funds will support Zopa's strategic initiatives, including the launch of a new current account in 2025 and the development of a groundbreaking GenAI proposition aimed at revolutionizing customer interaction with financial services. Additionally, Zopa has formed strategic partnerships with companies such as Octopus Energy and John Lewis, enhancing its service offerings in the renewable energy market and expanding personal loan services. Zopa holds a full banking license, distinguishing it from many FinTech companies and reinforcing its commitment to regulatory standards. The company has over 1.3 million customers and £5 billion in deposits, with plans to expand its market presence and acquire new ventures in the near future. The recent funding is a testament to Zopa's solid financial performance and its potential for further growth, echoed by A.P. Moller Holding's belief in Zopa's ability to generate sustainable, long-term value for its customers.