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.

Type
Private
HQ
London, GB
Founded
2005
Employees
160 (est)
Zopa was founded in 2005 and is headquartered in London, GB

Key People at Zopa

Trevor Oelschig

Trevor Oelschig

Board Member and/or Advisor
Giles Andrews

Giles Andrews

Co-Founder, Executive Chairman
Reinier Musters

Reinier Musters

Board Member and/or Advisor
Radboud Vlaar

Radboud Vlaar

Board Member and/or Advisor
Jaidev Janardana

Jaidev Janardana

CEO & Executive Director
Caroline Mills

Caroline Mills

Operations Director
Matthew McGuire

Matthew McGuire

CTO
Didier Baclin

Didier Baclin

Chief Data Scientist
Jonathan Kramer

Jonathan Kramer

Sales Director
Andrew Lawson

Andrew Lawson

Chief Product Officer
Ben Edwards

Ben Edwards

Commercial Director

Zopa Locations

London, GB

Zopa Metrics

Zopa Summary

Founding Date

2005

Total Funding

$56.7 M

Latest funding size

$22.7 M

Time since last funding

almost 3 years

Investors

Zopa's latest funding round of $22.7 M was in January 2014. In total, Zopa has raised $56.7 M.

Zopa Financials

Zopa's revenue was £20.6 M in FY, 2015 which is 79.86% increase from the previous period.
FY, 2013FY, 2014FY, 2015

Revenue

£5.38 M£11.5 M£20.6 M

Revenue growth, %

113.4%79.9%

Cost of sales

£2.3 M£6.2 M£9.95 M

Gross profit

£3.08 M£5.28 M£10.7 M

Gross profit Margin, %

57.3%46.0%51.8%

Operating expense total

£5.69 M£11.4 M£19.6 M
32% of current employees of Zopa are female and 68% are male.

Zopa Online Presence

Zopa News

Zopa Company Life

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