Zopa considers acquisition for foothold in Northern Europe – report [Yahoo! Finance]
SOFTBANK GRP UNSP/ADR (SFTBY)
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Source: Yahoo! Finance
The SoftBank Group backed lender is considering the purchase of a local bank or fintech in Germany or Scandinavia. Speaking in an interview, Janardana said Zopa is searching “opportunistically” for suitable targets but stressed that its primary focus remains on expanding its UK operations. Zopa, which began as a peer-to-peer lender over two decades ago, was granted a full banking licence in 2020. In the past year, Zopa reported a profit increase to £65m ($87m) and expanded its loan book by 23% to £3.8bn. Its customer base stands at nearly 2 million. Should Zopa proceed with an acquisition abroad, it would follow the example of other UK digital banks expanding internationally. Monzo Bank obtained an EU licence in Ireland, and OakNorth is close to finalising a US bank acquisition. Zopa's most recent valuation topped $1bn after an investment round led by A.P. Moller Holding A/S in late 2024. The company has made domestic acquisitions, including Rvvup last year and DivideBu
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