Zopa Bank Raises $92 Million to Spearhead Growth, Acquisitions

Zopa Ltd.has completed a funding round of £75 million ($92 million) and is on the lookout for deals as early as this quarter.

The raise from existing investors “cements” the UK fintech’s status as a unicorn with a valuation of $1 billion, the bank said in a statement Thursday.

“During a challenging economic time, this is validation of our economic performance,” Zopa Chief Executive Officer Jaidev Janardana said. He added the fresh funds would go toward growing current products as well as expanding into the small business lending space.

Zopa, backed by investors including Softbank’s Vision Fund and ...