Digital bank Zopa is opening a Manchester office – and says it hopes to create up to 500 jobs in the city.
The office is set to open next month with more than 50 staff but the bank, which has 1.5m customers, hopes to grow that tenfold in the coming years.
Zopa is planning to grow its business across the Ƶ and says it has chosen Manchester as it is “one of Europe’s fastest-growing tech hubs”. It also praised the city’s “thriving tech ecosystem, strong financial services presence, and deep talent pool.”
The office’s first staff will focus on product, engineering, and specialist work for the bank, which recently launched a current account called Biscuit.
Iain Kendrick, Zopa’s chief people officer said: "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. 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.”
Manchester City Council leader Bev Craig 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.”
Joe Manning, managing director at inward investment agency MIDAS, said: “Zopa's choice of Manchester reflects our city-region’s fantastic digital landscape and financial services strength. Our vibrant community of thousands of tech companies, dynamic startup culture, and major universities producing skilled graduates create an ideal environment for innovative banking.
“This investment demonstrates how our city-region has become a magnet for leading fintech businesses seeking growth opportunities. We look forward to welcoming them to Manchester.”
In May, Zopa secured £80m from its inaugural bond listing on the London Stock Exchange. The group, whose pre-tax profits rose to £34.2m in the 2024 financial year, has partnerships with brands including John Lewis and Octopus Energy and is planning to move to a new national HQ in Canary Wharf.
