REG-Augmentum Fintech Plc: £4 million investment into Zopa

Augmentum FintechAnnouncement

02/02/2023 08:15

2 February 2023

Augmentum Fintech plc

£4 million investment into Zopa

Augmentum Fintech plc (LSE: AUGM) (“Augmentum”), Europe’s leading
publicly listed fintech fund, announces that it has made a further £4 million
investment into digital bank, Zopa (www.zopa.com), as part of a £75 million
funding round alongside other existing investors.

The funding will be used to support London-headquartered Zopa’s next phase
of growth, meeting the capital requirements of its growing balance sheet, and
supporting M&A activity.

Since being awarded a UK banking licence in 2020, Zopa has attracted £3
billion in deposits, more than £2 billion in balance sheet loans and issued
more than 400,000 credit cards. Despite the challenging macroeconomic
environment, Zopa continues to grow revenue by more than 100% year on year(1),
driven by the continued expansion of its suite of digital-first financial
products, and became profitable in April 2022.

Zopa was named “Bank of the Year” 2022 at the AltFi Awards, and previously
“Best Personal Loan Provider” and “Best Credit Card Provider” at the
British Bank Awards. 

Tim Levene, CEO of Augmentum Fintech, said: “This funding round marks the
start of the next chapter for Zopa and we are pleased to support their growth.
The Zopa team have continued to execute on their growth plans despite an
uncertain macro backdrop, bolstered by world class digital capabilities and 17
years of lending experience”.

Notes:

(1) As at 30 November 2022.

Enquiries:

 Augmentum Fintech Tim Levene, Portfolio Manager Georgie Hazell Kivell, Marketing and IR  +44 (0)20 3961 5420 georgie@augmentum.vc  
 Quill PR Press and Media                                                                 +44 (0)20 7466 5050 press@augmentum.vc    
 Peel Hunt LLP Liz Yong, Luke Simpson, Huw Jeremy (Investment Banking)                    +44 (0)20 7418 8900                       
 Singer Capital Markets Harry Gooden, Robert Peel, Alaina Wong (Investment Banking)       +44 (0)20 7496 3000                       
 Frostrow Capital LLP Paul Griggs, Company Secretary                                      +44 (0)20 3709 8733                       

About Augmentum Fintech

Augmentum invests in fast growing fintech businesses that are disrupting the
financial services sector. Augmentum is the UK’s only publicly listed
investment company focusing on the fintech sector in the UK and wider Europe,
having launched on the main market of the London Stock Exchange in 2018,
giving businesses access to patient capital and support, unrestricted by
conventional fund timelines and giving public markets investors access to a
largely privately held investment sector during its main period of growth.

Neither the content of any website referred to in this announcement nor the
content of any website accessible from hyperlinks is incorporated into, or
forms part of, this announcement.



Copyright (c) 2023 PR Newswire Association,LLC. All Rights Reserved