British P2P Fintech Zopa Valuation Could Surpass $550 Million

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British P2P lender Zopa, which is working on restructuring its business into three categories for the launch of its challenger bank, is reportedly in talks on closing a £50m ($71.5 million) funding round.

According to Sky News, which first broke the news, this round will bring the fintech’s total valuation to £400 million ($569.20 million).

Last year, Zopa announced the closing of a £32m funding round.

Zopa could not be reached for comment. No investors were disclosed in the report.

Meanwhile, according to Finextra, Zopa is currently reorganizing its business into three groups. It established separate boards for these categories: Zopa P2P business, proposed bank and group in charge of scaling the business and ensuring compliance.

Read more on Sky News and Finextra.

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