- March, 2005
- Giles Andrews
Zopa offers peer-to-peer loans with low rates, flexible terms, and no early repayment fees.
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 Â£1000 would have their money spread... See More
Board Members and Advisors (3)Update
Funding Rounds (6) - $56.60MUpdate
Investors UnknownJan 1, 2005 -Series A Round
Bessemer Venture Partners has over 100 years of investing experience, with a portfolio ranging..
Benchmark is an early stage venture capital firm focusing in Social, Mobile, Local and Cloud..
Wellington Partners is a venture capital firm that invests in technology and life sciences..
One of Europe's largest early-stage VCs
Augmentum Capital was formed in London in 2009 by Tim Levene and Richard Matthews. Its first fund,..
Euro-focused focused alt. asset manager
40-44 Newman Street
London, W1T 1QD
Lending Club is an online peer-to-peer lending platform enabling borrowers to obtain loans, and..
stickK.com is a US based internet startup company that enables users to create custom contracts.
Qifang is a Chinese peer-to-peer lending online community focused on student loans.
PPDai is a China-based peer-to-peer social lending site.
Academic Capital Exchange (ACE), a peer-to-peer student loan marketplace, helps students obtain..
CapAlly is an online peer-to-peer student loan marketplace that links students to financial..
RateSetter is a P2P lending website allowing users to lend and borrow money directly with each..
Peer-to-Peer money lending service