Skip to content 
Search

Latest Stories

Jaidev Janardana drives Zopa’s growth with £68m investment

Chief executive Jaidev Janardana revealed that the funding will help Zopa meet regulatory capital requirements as it continues to grow at a rapid pace.

Jaidev Janardana drives Zopa’s growth with £68m investment
Jaidev Janardana (Photo:Zopa.com)

ONLINE bank Zopa has received a £68 million funding boost, led by AP Moller Holding, the owners of shipping giant Maersk.

The new investment aims to support Zopa’s growth plans, including the launch of a current account and further advancements in artificial intelligence (AI), the Times reported.


Founded in 2005, Zopa initially pioneered peer-to-peer lending but transitioned to a traditional banking model in 2020. Today, the bank serves over 1.3 million customers, manages £5 billion in deposits, and has lent more than £13bn to UK consumers.

Chief executive Jaidev Janardana revealed that the funding will help Zopa meet regulatory capital requirements as it continues to grow at a rapid pace. He highlighted plans to introduce investment ISAs and a new current account in the coming year.

An Individual Savings Account (ISA) allows you to invest in options like shares, funds, investment trusts, or bonds. These are typically managed through a stocks and shares ISA, also known as an investment ISA.

“A lot of banking now is done on a small rectangle. We are looking at how AI can take us beyond mobile apps and into more voice-based banking, making that interaction simpler and bringing back some warmth," he was quoted as saying.

He added that AI could also help customers “make better choices” on their finances by helping people manage the multiple financial services providers most consumers have.

The bank reported its first pre-tax profit of £15.8m in 2023, driven by higher net interest income. It anticipates doubling profits in 2024, supported by a projected 35 per cent increase in annual revenue.

AP Moller Holding, also a shareholder in Danske Bank, is among Denmark’s largest investors with $32bn in assets. The report revealed that Zopa’s largest stakeholder, IAG SilverStripe, a specialist in financial services investments, also participated in the latest funding round.

With about 850 employees, Zopa has benefitted from rising net interest income in recent years. However, Janardana welcomed the possibility of central bank rate cuts, noting it could stimulate demand for the bank’s lending products.

The investment will also fuel Zopa’s push into generative AI technologies, which underpin tools like ChatGPT. This innovation aims to “reinvent how people interact with their money,” according to the company.

More For You

UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Bond yields ease following Starmer’s support for Reeves

THE COST of UK government borrowing fell on Thursday, partially reversing the rise seen after Chancellor Rachel Reeves became emotional during Prime Minister’s Questions.

The yield on 10-year government bonds dropped to 4.55 per cent, down from 4.61 per cent the previous day. The pound also recovered slightly to $1.3668 (around £1.00), though it did not regain all its earlier losses.

Keep ReadingShow less
Gill becomes first Asian captain to score double-century in England

Shubman Gill reacts to reaching his double hundred on day two of the second cricket test match against England at Edgbaston cricket ground in Birmingham, central England on July 3, 2025. (Photo by DARREN STAPLES/AFP via Getty Images)

Gill becomes first Asian captain to score double-century in England

SHUBMAN GILL etched his name in cricket history on Thursday (3), becoming the first Indian and Asian captain to score a double-century in a Test match on English soil as he powered India to a commanding position at Edgbaston.

The 25-year-old skipper scored 269 on the second day of the second Test, having shattered multiple records in a masterful innings that has put England to the sword.

Keep ReadingShow less
The Great British Sewing Bee

Patrick Grant, Esme Young and Kiell Smith-Bynoe return as judges and host

BBC

The Great British Sewing Bee 2025 to return on 15 July, BBC announces

Key points

  • The Great British Sewing Bee 2025 begins Tuesday, 15 July at 9 pm on BBC One.
  • The 11th series will see a new group of amateur sewers compete for the title.
  • Patrick Grant, Esme Young and Kiell Smith-Bynoe return as judges and host.
  • The show continues its popularity with weekly sewing challenges and heartfelt moments.

Great British Sewing Bee 2025 set to return on 15 July

The return date for The Great British Sewing Bee 2025 has been officially confirmed. The popular BBC One competition will be back on screens on Tuesday 15 July at 9 pm, bringing with it a fresh group of amateur sewers hoping to impress judges Patrick Grant and Esme Young.

Now in its 11th series, the show has grown into a mid-year television highlight, offering a combination of creativity, technical skill, and emotional storytelling. Hosted by Kiell Smith-Bynoe, the series follows contestants through a series of themed sewing challenges as they compete for the title of Britain’s best home sewer.

Keep ReadingShow less
Indian soldier

An Indian soldier stands guard as national flags wave in the background

Getty Images

India won the brief conflict with Pakistan but lost the propaganda war

Nitin Mehta

After the dastardly killing of 25 Hindus by terrorists in Pahalgam, India delivered a devastating blow to Pakistan. It sent the message that India will not tolerate terrorist attacks anymore. However, India seems to have lost the propaganda war. In any battle, propaganda plays a huge role.

There are two interpretations of how the brief conflict was suddenly brought to a close. The Indian interpretation is that the Pakistani commanders urged India to stop the conflict and India agreed. This in itself raises some crucial questions. If the enemy is urging you to stop, why would you? Certainly the great Chanakya's response would be to take full advantage of the enemy's weakness. Did India get any cast-iron guarantees that Pakistan will stop state-sponsored terrorist attacks? Did India ask for the immediate release of Sudhir Kulbushan Yadav who is in a Pakistani jail for nine years on false spying charges?

Keep ReadingShow less
Rajnath Singh

The council that approved the initiation of procurement for arms and equipment is headed by Defence Minister Rajnath Singh. (Photo: Reuters)

Reuters

India starts process to procure arms worth $12.31 billion

INDIA’s Defence Acquisition Council (DAC) has approved the initiation of procurement for arms and equipment worth $12.31 billion (£9.05 billion), the defence ministry said on Thursday.

The council is headed by India's Defence Minister Rajnath Singh.

Keep ReadingShow less