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General Information

Offices

London, GBR
40-44 Newman Street
London, W1T 1QD, GBR

People

Co-Founder and CEO
Board
Board Member
Board Director

Funding

TOTAL $56.6M
FUNDING TOTAL $56.6M
Series A, 1/2005
$1M
Series B, 3/2006
Benchmark
Bessemer Venture Partners
Wellington Partners
Balderton Capital
$15M
Series B, 7/2006
Timothy Draper
$5M
Series C, 3/2007
Benchmark
Bessemer Venture Partners
Wellington Partners
$12.9M
Venture Round, 12/2012
Augmentum Capital
Venture Round, 1/2014
Arrowgrass Capital
£15M

Competitors

Tags

Zopa

Zopa is a P2P money lending service that allows lenders and borrowers to deal directly with one another, cutting out the banks who act as middlemen.

Zopa works in the following way: the company first categorizes borrower credit grades with an A*, A, B, C or Y rating; then lenders make offers that vary by money amount and time period for persons with a certain credit grade; and borrowers can then agree the aggregate offered rate.

Zopa takes on such responsibilities as distributing money between parties, completing the legal paperwork, performing borrower identity/credit checks, and employing a collections agency that chases missed payments for the lender.

Zopa also mitigates risk for lenders by enforcing monthly direct debit repayment, making borrowers sign a legal contract, and allowing lenders to lend small chunks of money to individual borrowers (i.e. someone lending £1000 would have their money spread across say 100 borrowers).

The company itself makes money by charging a fixed fee for borrowers and 1% annual fee for lenders.

Zopa has received public acclaim as well, having been awarded CNET Technology Awards’ 2006 Internet Innovation of the Year, the 2007 Webby Award for Best Banking/Bill-Paying Website, the 2008 Webby Award for Financial Services, the Banker 2007 Award for Best Internet Project and Moneywise 2009 Awards for Best Customer Service and Best Personal Loan.

One of the three initial members of the UK’s Peer-to-Peer Finance Association, together with FundingCircle and RateSetter. Other P2P lending services include Lending Club, Prosper, and Kiva.

Recent Milestones

  • Dollar
    Zopa received $22.7M (£15M) in Venture Round funding. (1/29/14)
    Posted 1/29/14 at 9:01pm via techcrunch.com
  • Check
    Zopa — Safeguard fund reaches £1 million (9/10/13)
    Posted 9/10/13 at 7:35pm via zopa.com
  • Check
    Zopa — Latest news from Zopa towers (6/13/13)
    Posted 6/13/13 at 7:16pm via zopa.com
  • Dollar
    Zopa received in Venture Round funding. (12/11/12)
    Posted 12/11/12 at 3:40am via techcrunch.com
  • Check
    Zopa added Tim Levene as Board Director. (12/1/12)
    Posted 8/2/13 at 12:32am
  • Check
    Zopa — Zopa reaches £100m in loans in UK (9/30/10)
    Posted 10/6/10 at 3:33am via cityam.com
  • Check
    Zopa — Zopa closed US business to concentrate on UK. (10/1/08)
    Posted 10/6/10 at 3:31am
  • Dollar
    Zopa received $12.9M in Series C funding. (3/20/07)
    Posted 8/23/07 at 1:30am via venturebeat.com
  • Dollar
    Zopa received $5M in Series B funding. (7/1/06)
    Posted 8/23/07 at 1:42am via venturebeat.com
  • Dollar
    Zopa received $15M in Series B funding. (3/1/06)
    Posted 8/23/07 at 1:32am via venturebeat.com
  • Dollar
    Zopa received $1M in Series A funding. (1/1/05)
    Posted 8/23/07 at 1:44am
  • Check
    Zopa added Giles Andrews as Co-Founder and CEO. (6/1/04)
    Posted 8/23/07 at 1:26am
  • Check
    Zopa added Doug Dolton as Board.
    Posted 8/23/07 at 1:25am
  • Check
    Zopa added Trevor Oelschig as Board Member.
    Posted 7/29/13 at 2:53am
  • Check
    Zopa added Wade Lagrone as CMO.
    Posted 9/2/13 at 9:41am

Videos

Above:

Zopa demoing at FinovateStartup 2008

Added: 3/6/14

Screenshots

Products

Zopa

Websitezopa.com
StageLive
Tags money-management

Traffic Analytics

Compete

Zopa

Sources

  1. Citation Needed [add]
  2. venturebeat.com [edit]
  3. Zopa, the online marketplace for lending, raises $5m to match Prosper (venturebeat.com) [edit]
  4. VentureBeat (venturebeat.com) [edit]
  5. As UK Gov Eyes Up Regulation, P2P Lender Zopa Raises “Multi-Million Pound” Round Led By Augmentum Capital (techcrunch.com) [edit]
  6. P2P Lending Pioneer Zopa Closes $25m From Hedge Fund For UK Expansion (techcrunch.com) [edit]
  7. Citation Needed [add]
    City A.M. (cityam.com) [edit]
    Latest news from Zopa towers (blog.zopa.com) [edit]
    Safeguard fund reaches £1 million (blog.zopa.com) [edit]
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Last Edited 3/5/14

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