Company Overview

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Founded:
March, 2005
Founders:
Giles Andrews
Headquarters:
London
Funding:
$56.60M
Categories:
Finance

Zopa offers peer-to-peer loans with low rates, flexible terms, and no early repayment fees.

Description

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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... See More

Current Team (1)

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Board Members and Advisors (3)

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Products (1)

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    Zopa

    Zopa was added to CrunchBase in 2007

Funding Rounds (6) - $56.60M

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Investors (7)

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Offices/Locations (1)

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  • Office

    40-44 Newman Street

    London, W1T 1QD

    GBR

Competitors (9)

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