SoftBank-backed fintech Zopa aims to double profit this year as it eyes 2025 current account launch [CNBC]
SOFTBANK GRP UNSP/ADR (SFTBY)
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Source: CNBC
Zopa, which is backed by Japenese giant SoftBank, has plans to venture into the world of current accounts next year, as it looks to focus more on new products. The company currently offers credit cards, personal loans and savings accounts that it offers through a mobile app — similar to other digital banks such as Monzo and Revolut which don't operate physical branches. LISBON, Portugal — British online lender Zopa is on track to double profits and increase annual revenue by more than a third this year amid bumper demand for its banking services, the company's CEO told CNBC. Zopa posted revenues of £222 million ($281.7 million) in 2023 and is expecting to cross the £300 million revenue milestone this year — that would mark a 35% annual jump. The 2024 estimates are based on unaudited internal figures. The firm also says it is on track to increase pre-tax profits twofold in 2024, after hitting £15.8 million last year. Zopa, a regulated bank that is backed by Japanese giant
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