Zopa provides 2016 year end stats; in total they lent 680 million British pounds ($830 million); helped 20,000 people improve their home and 29,000 buy a car; the company also highlights several awards they won including Most Trusted Loan Provider by Moneywise for the seventh year in a row; the company struck many partnerships including offering phone finance with Unshackled, loans through personal finance app Pariti and a partnership with Airbnb; company also launched three new lending products for investors with varying risk and return profiles; in 2016 we also saw the first securitization of Zopa loans and learned of Zopa's plans to apply for a banking license. Source
AltFi reports on recent developments affecting the marketplace lending industry; discusses challenges at RateSetter and platform changes at Zopa and Funding Circle; also notes that UK regulators may be seeking increased transparency through new regulations; argues against criticism that platforms are struggling for borrowers and shows origination volume growth since 2005. Source
Fintech funding rounds of this size are few and far between- Zopa plans to use the investment to further its plan to "be Britain's best bank."
Crowdfund Insider talked with Zopa about 2016 and 2017; the firm had a successful year in 2016 despite the industry's challenges; highlights from the year included lending over 680 million British pounds ($855.02 million) to nearly 100,000 customers, becoming profitable, securitizing its first loan portfolio and announcing plans to launch a bank; in 2017 the firm plans to build on its success while also beginning plans for launching a bank with deposit accounts and overdraft alternatives by 2018; in its core business products, Zopa CEO Jaidev Janardana says the firm will be looking for new partnerships that support its auto finance, point of sale and personal loan businesses. Source
Peer2Peer Finance News shares a ‘where are they now?’ piece which includes the founders of Zopa, Funding Circle and RateSetter;...
AltFi takes an in-depth look at the oldest P2P lender Zopa and how they are positioning themselves for the future; recent partnerships with the Saffron Building Society and the coming PSD2 regulatory changes are key ingredients to the company’s future; Zopa also has plans to introduce a number of new products when it launches their bank in 2018. Source
P2P lending fund cites legacy Zopa portfolio for lower returns Digitizing construction finance with Rabbet’s Will Mitchell AI Is Coming...
The marketplace lending industry's first peer-to-peer lender has created a waiting list for new investors and is currently only accepting funds from existing investors; the investor waiting list began on March 9 and follows the previous halting of new money from all investors on its platform in December; the waiting list is another effort to keep processing times down; demand for loans on the platform was higher in February as more investors identified the loan investments for their high yields among other regional alternatives; Zopa has reported plans for expansion to secured car loans and is also continuing with its plans for launching a digital bank. Source
Qwil’s Johnny Reinsch: ‘Our mission is to provide liquidity to SMBs and freelancers around the world’ Nationwide Announces New Partnership...
2019 was another great year for the fintech market overalls but not all companies saw success in 2019; AltFi takes...