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Augmentum upbeat as Zopa gets full banking licence
24th Jun 2020 12:00
(Sharecast News) - Financial technology investment company Augmentum Fintech announced on Wednesday that Zopa has been awarded its full banking licence by the Prudential Regulatory Authority.
The London-listed firm said Zopa Bank would sit alongside its existing peer-to-peer business Zopa, as part of the overall Zopa Group.
Augmentum first backed Zopa in 2012, and currently holds a 6.2% stake in the firm, which was spun out from RIT Capital Partners last year.
At 1145 BST, shares in Augmentum Fintech were down 0.48% at 108.48p.
The London-listed firm said Zopa Bank would sit alongside its existing peer-to-peer business Zopa, as part of the overall Zopa Group.
Augmentum first backed Zopa in 2012, and currently holds a 6.2% stake in the firm, which was spun out from RIT Capital Partners last year.
At 1145 BST, shares in Augmentum Fintech were down 0.48% at 108.48p.