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Details

  • Company Type For Profit
  • Contact Email contactus@zopa.com
  • Phone Number +44-(0)20 7580 6060

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. It 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 a 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.

Lists Featuring This Company

Europe, Middle East, and Africa (EMEA) Companies With Less Than $50M in Revenue (Top 10K)
9,964 Number of Organizations • $503.6B Total Funding Amount • 61,207 Number of Investors
Venture Capital Funded Companies (Top 10K)
9,970 Number of Organizations • $2.7T Total Funding Amount • 117,931 Number of Investors
Bessemer Venture Partners Portfolio Companies
717 Number of Organizations • $84.7B Total Funding Amount • 7,575 Number of Investors
FinTech Companies With More Than $10M in Revenue
2,553 Number of Organizations • $363.5B Total Funding Amount • 14,368 Number of Investors

Frequently Asked Questions

Where is Zopa's headquarters? Zopa is located in London, England, United Kingdom.Who invested in Zopa? Zopa has 24 investors including IAG Silverstripe and SoftBank Vision Fund.How much funding has Zopa raised to date? Zopa has raised .When was the last funding round for Zopa? Zopa closed its last funding round on Sep 7, 2023 from a Debt Financing round.Who are Zopa's competitors? Alternatives and possible competitors to Zopa may include AthenaHnry, and RenoFi.