Zopa Bank Establishes Presence in Manchester Through New Regional Headquarters
Zopa, one of the UK's highest-rated digital banks, is set to open a new regional office in central Manchester as early as August 2025. This move is a significant part of Zopa's growth plans to increase its UK footprint and build a team that could grow from an initial 50+ employees to over 500 over time.
The new office will focus on key roles in product development, engineering, and specialist operations. Manchester was chosen as the location due to its thriving tech ecosystem, strong presence in financial services, and a rich talent pool drawn from over 10,000 digital and tech businesses, a vibrant startup scene, and five major universities enrolling more than 100,000 students.
Zopa's expansion aligns with its strategic aim to be closer to its nationwide customer base, 85% of whom live outside London. The company highlights Manchester's energy, connectivity, and capabilities as critical factors that support its ambition to become a top regional employer and accelerate its growth journey.
The move to Manchester underscores Zopa's remarkable trajectory as one of the fastest-growing digital banks in the UK. In the past year, the bank had exceptionally strong growth with continuous double-digit growth and increased profitability. In FY2024, Zopa doubled its pre-tax profits to £34.2 million, due in part to continued innovation and partnerships with household brands like Octopus Energy and John Lewis.
The expansion will strengthen Manchester's fintech reputation and contribute significantly to the city's tech sector growth. Local government leaders have welcomed the move, noting it underscores Manchester’s role as an important international fintech hub and adds meaningful employment opportunities for residents.
In summary, Zopa's expansion to Manchester marks a significant step in its trajectory as one of the UK's fastest-growing digital banks. The new office will launch in August 2025, with an initial team of 50+ employees, and could grow tenfold to over 500 staff over time. This move supports Manchester's own growth ambitions in the tech sector, creating great employment opportunities for its residents.
| Aspect | Details | |----------------------|-------------------------------------------------------------------------------------------| | Expansion Launch | August 2025 | | Initial Team Size | 50+ employees | | Potential Growth | Up to 500 employees over time | | Key Roles | Product, Engineering, Specialist Operations | | Reason for Manchester| Thriving tech ecosystem, strong financial services, deep talent pool | | Impact on Manchester | Boosts tech and fintech ecosystem, creates jobs, enhances city’s international reputation | | Customer Base | 1.5 million, 85% outside London |
This expansion follows product innovations like the Biscuit current account and represents a major investment in innovation and talent in the north of England.
In alignment with its strategic aim to foster innovation and expand its presence, Zopa's new office in Manchester, launching in August 2025, will cater to key roles in finance, technology, and business sectors. This strategic move aims to leverage Manchester's vibrant tech ecosystem, strong financial services sector, and rich talent pool, contributing significantly to the city's tech sector growth and enhancing its international fintech reputation.
