Zopa, a digital bank headquartered in London, is set to expand its presence by opening a new office in Manchester, aiming for a workforce of 500 in the city.
Scheduled to launch next month in central Manchester, the office will initially accommodate over 50 employees, focusing on product development, engineering, and specialized operations. Zopa anticipates this number could increase significantly in the future.
The bank aims to leverage Manchester’s vibrant tech ecosystem, which boasts a robust financial services sector and a wealth of talent. With more than 10,000 digital and tech companies, a dynamic startup culture, and five major universities with a combined enrollment exceeding 100,000 students, Manchester has rapidly become one of Europe’s leading tech hubs.
Iain Kendrick, Chief People Officer at Zopa, stated, “With over 85% of our customers located outside London, our expansion into Manchester will bring us closer to our diverse national customer base, allow us to tap into new talent, and accelerate our ambitious growth strategy. Manchester offers the energy, connectivity, and resources we need to enhance our growth as we strive to be a top employer across regions.”
Originally a pioneer in peer-to-peer lending, Zopa transitioned to banking in 2020 and has since attracted 1.5 million customers, facilitating over £13 billion in loans and achieving profitability for two consecutive years. In June, the bank celebrated a key milestone by launching its inaugural current account, Biscuit.
As part of its growth strategy, Zopa also plans to relocate to a new headquarters in London later this year, effectively doubling its office space to accommodate around 900 employees.