24 September 2017
Find out more

Zopa raises $12.9m in series c financing; names Dolton global CEO

19 March 2007  |  7937 views  |  0 cash

UK-based online person-to-person lending and borrowing exchange Zopa has raised $12.9m in a series c funding round led by Bessemer Venture Partners. The firm has also hired Douglas Dolton, a veteran of the unsecured lending industry, as its global CEO.

Zopa was established in 2005 by several members of the original management team behind the launch of UK Internet bank Egg.

The online service enables people to borrow money from other individuals, rather than financial institutions. Since launching in the UK in March 2005, Zopa says over 135,000 customer have signed up to the service.

Zopa will use the series c investment to fund the launch of the service in the US, as well as for the continued development and growth of operations in the UK.

The series c investment raises Zopa's total capital raised to $34m.

The company has also appointed Douglas Dolton, a seasoned entrepreneur in the unsecured lending industry, as global CEO.

Zopa says Dolton combines 30 years of consumer financial services experience with a track record of building successful, high-growth businesses. In three years under Dolton's leadership, San Francisco-based Chela Education Financing grew to become one of the premier student loan companies in the country that was successfully sold to Nelnet, the second-largest student loan company in the US.

Prior to Chela, Dolton was CEO of Virginia-based Servus Financial Corporation, an originator and servicer of consumer loans. Servus was sold to Wells Fargo Bank in 2000.

Commenting on the funding and the appointment, Phillip Riese, chairman of Zopa, says: "Doug's leadership combined with the new funding and the experience of our teams in the UK and the US will allow us to accelerate our growth."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

CommunityLend to set up online P2P loan exchange in Canada

CommunityLend to set up online P2P loan exchange in Canada

09 March 2007  |  15064 views  |  0 comments
Zopa secures $5m financing; appoints Phillip Riese chairman

Zopa secures $5m financing; appoints Phillip Riese chairman

26 July 2006  |  7719 views  |  0 comments
Zopa raises $15m for US launch

Zopa raises $15m for US launch

28 March 2006  |  9187 views  |  0 comments
Former E-Loan exec Larsen launches Zopa-style Prosper lending network in US

Former E-Loan exec Larsen launches Zopa-style Prosper lending network in US

08 February 2006  |  9148 views  |  0 comments
Former Egg execs launch online loan exchange

Former Egg execs launch online loan exchange

07 March 2005  |  7993 views  |  0 comments

Related company news

 
visit www.vasco.comvisit www.capgemini.comvisit www.temenos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
13443 views comments | 28 tweets | 44 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
9886 views comments | 13 tweets | 28 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8609 views comments | 19 tweets | 27 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
8412 views comments | 16 tweets | 1 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
8157 views comments | 32 tweets | 45 linkedin

Featured job

A minimum of £200K (not a limiting factor)
London

Find your next job