P2P lender Zopa raises £44m to fund new bank - Augmentum Fintech Management Ltd

On 3rd Aug Zopa announced its raise of £44m to be put towards the capital needs for the next generation bank, which will offer customers a wider choice of saving and lending products while broadening its funding base with sticky retail deposits.

Zopa’s bank is expected to start with an a focus on savings products before entrance into unsecured lending options, such as credit cards. Zopa CEO, Jaidev Janardana, commented that launching a new bank as a key step for the company to further widen products on the offer for customers.

Go to Article

Rahil Patel

Rahil is an Analyst at Augmentum. He joined the fund full-time following a Summer internship in 2018.

Prior to Augmentum, Rahil studied Geography at Durham University and has previously worked with Mayfair Insurance Company and Sipsmith Gin.

When he is not curating the office Alexa playlist, Rahil tries to keep up with his passion for DJing that began at university.

Learn more about Rahil in this blog post.

Georgie Hazell

Georgie heads up engagement at Augmentum, which involves supporting portfolio companies, engaging with investors and the wider fintech ecosystem (including marketing and events), and supporting the team internally.

Georgie has worked in a number of startups across people, strategy and growth leadership positions. Following her MBA and a consultancy project with Crowdcube, Georgie moved into venture capital.

Passionate about diversity and inclusion, particularly in VC and entrepreneurship, Georgie founded women in tech network Elevate, led on UK expansion for Her Campus Media, volunteers with Diversity VC and mentored with The Girls Network.