London-based peer-to-peer lender, Zopa announced that it has surpassed the billion-dollar mark (£0.59 billion) in total lending since launch.
“The peer-to-peer industry is growing faster than ever,” Giles Andrews, Zopa CEO and co-founder said. “And we’re looking forward to offering new products like ISAs in the near (future).”
It’s a testament to the growth Giles speaks of that a quarter of Zopa’s lending has come in 2014 alone. The company has enjoyed 92% year-on-year growth (basis July), and expects to return £10 million in interest to lenders this year.
A few metrics on Zopa:
- Year-to-date number of loans (2014): 104,000
- Year-to-date funds loaned (2014): £148 million
- More than 63,000 active borrowers
- More than 57,000 active lenders
- Average Zopa lender: 47 years old
- Average Zopa amount lent: £5,710
- Average Zopa borrower: 40 years old
- Average Zopa amount borrowed: £5,500
- Total amount returned to lenders since launch: £37 million
- Top three most popular loan uses cases:
- Car: 40%
- Home improvement: 20%
- Debt consolidation 20%
Founded in 2005, Zopa demoed its technology at FinovateSpring 2008. The company recently made headlines by winning the Most Trusted Loan Provider and Most Trusted Specialist honors at the 2014 MoneyWise Customer Service Awards in June.
Earlier this year, Zopa was named to the 2014 European FinTech 50, and won “Best Peer to Peer Lender” from Moneynet Personal Finance. The company raised £15 million in funding from Arrowgrass Capital in January, taking their total capital to more than $56 million.
TransferWise 
