Zopa Bank to open new regional office in Manchester

By Vriti Gothi

Zopa Bank to open a regional office in central Manchester this August, as a part of its UK expansion plans and underlining its commitment to growth beyond London.

The move will see the digital bank establish a permanent presence in one of the country’s fastest-growing technology and financial services hubs. Zopa’s Manchester office is expected to provide an initial base for more than 50 employees, with long-term ambitions to build a team of up to 500. Key roles will focus on product development, engineering and specialist operations.

The decision to expand to Manchester reflects Zopa’s continued investment in digital banking services and its ambition to access talent in major regional cities. It comes after the launch of Biscuit, Zopa’s everyday bank account designed to offer competitive value with the convenience of a mobile-first experience.

Zopa cited Manchester’s established reputation as a technology and innovation centre as a driving factor in its location choice. The city is home to more than 10,000 digital and technology businesses and five universities enrolling over 100,000 students, providing access to a large pool of skilled graduates.

Iain Kendrick, Chief People Officer at Zopa Bank, 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.”

Local leaders have welcomed the announcement as a boost for the city’s growing financial technology sector.

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 for our residents.”

Zopa’s expansion follows a year of continued growth for the bank, which has reported sustained double-digit increases in its customer base and profitability. Recent collaborations with well-known brands such as Octopus Energy and John Lewis contributed to pre-tax profits doubling to £34.2 million in the 2024 financial year.

Zopa holds a full UK banking licence, offering customers the same level of deposit protection as traditional banks through the Financial Services Compensation Scheme. The bank has received multiple industry awards and maintains a high customer rating on Trustpilot.

Later this year, Zopa is also expected to relocate its London headquarters to a new site, further expanding its capacity as it continues to develop its product range and digital services.