Zopa surpasses £3bn in lending

By Emily Nicolle on Wednesday 31 January 2018

Alternative Lending

The peer-to-peer lender is starting out 2018 on the right foot.

Zopa has become the first consumer peer-to-peer lending platform to hit the £3bn lending milestone.

The news comes after the platform experienced a highly successful 2017, lending a total of £985m to low risk UK borrowers over the year, which represents a 43 per cent increase on 2016’s data.

“Nearly 13 years ago we set out on a mission to make money simple and fair for UK consumers, and that purpose remains unchanged,” commented Zopa CEO Jaidev Janardana.

“Today’s £3bn milestone reflects our success in providing better value financial products and a better experience to our customers, but our journey is only just beginning.

“As we move closer to launching our next generation bank, we look forward to expanding our customer-centric approach to even more people through new products and services, and making Zopa the best place for our customers’ money.”

Last week, Zopa announced it would be taking on three new executive hires as it entered the new year. The platform had also recently raised investor rates for the first time since 2015, after re-opening to new investors.

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