(Bloomberg) — Zopa Ltd. tapped Monzo executive Graham Robinson to oversee its credit risk as the peer-to-peer lender continues to lay the ground for a potential initial public offering late next year.
Robinson, who also spent about two decades at Capital One Financial Corp., is joining as chief risk officer, according to a statement Wednesday.
The lender, which has provided unsecured loans, car finance and investment products to U.K. consumers since 2005, started its own digital bank last year. Since June 2020 it has attracted 700 million pounds ($950 million) in deposits and issued 165,000 credit cards, according to the statement.
Zopa is expected to have revenue of around 170 million pounds in 2022, more than double this year’s level, a person familiar with the matter said. Softbank Group Corp.’s Vision Fund 2 led a 220 million-pound pre-IPO investing round last month that gave the startup a $1 billion valuation.
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