Zopa raises $300M at a $1B valuation to expand its neobank in the UK

Today Zopa — a neobank with some 500,000 users in the U.K. where it provides peer-to-peer lending, savings accounts, credit cards and other services — has raised $300 million, at a valuation to be $1 billion (£750 million) post-money.

Zopa describes this as a “pre-IPO” round. The company is currently on a run rate of £85 million ($116 million), and expects that to double to £170 million ($233 million) by 2022. It’s also on track to reach profitability by the end of this year.

Read more: TechCrunch