London-based digital bank Zopa is set to open a new office in Manchester as part of its UK growth ambitions.
The fintech’s Manchester location is set to launch in early August, with initial plans to recruit around 50 staff focusing on product, engineering and specialist operations. The challenger bank aims to grow its northern workforce tenfold to 500 down the line.
“With more than 85% of our customers based outside the capital, expanding into Manchester allows us to be closer to our diverse, nationwide customer base, access new talent, and accelerate our ambitious growth journey,” said chief people officer Iain Kendrick.
“Manchester has the energy, connectivity, and capability we need to support our next stage of expansion as we make Zopa a top-choice employer across regions.”
Zopa said Manchester was chosen for its new office for its “thriving tech ecosystem”, “strong financial services presence” and its “deep talent pool”.
Bev Craig, leader of Manchester City Council, said: “Manchester has an active and ever-growing digital and tech community that is attracting key businesses that can take advantage of the ecosystem we have built in the city to support organisations to thrive.
“The new Zopa office is a continuation of this and further bolsters our reputation internationally as an important centre for fintech – while also supporting Manchester’s own growth ambitions in the tech sector, creating great employment opportunities to our residents.”
Zopa’s Manchester announcement follows the fintech’s expanded presence in its home city of London in February, when it moved into a Canary Wharf skyscraper.
In May, Zopa raised £80m from the listing of its first bond on the London Stock Exchange.
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