Zopa raises £15 million funding

Zopa raises £15 million funding

Peer-to-peer lending platform Zopa has raised £15 million in a funding round led by hedge fund Arrowgrass Capital Partners.

Zopa says it will use the funding to support continued rapid growth and to raise awareness of the company's services as an alternative source of finance among a wider audience of UK consumers.

The company doubled its staff to 45 people last year, following a £4 million investment in December 2012 led by Augmentum Capital.

In 2013, Zopa facilitated £180m in loans across its platform, with projections to reach £500 million lent in total ahead of new regulations due in April 2014.

Giles Andrews, CEO and Co-founder of Zopa said, "As Zopa enables borrowers to dramatically cut their borrowing rates, and savers to see their money grow at market-leading rates and with the security they deserve, it's win-win. This investment offers the opportunity to spread the benefits of Zopa further and faster".

Andrews will be speaking at the Finextra Future Money event in Canary Wharf in April, a two-day conference exploring the new wave of innovation sweeping across the financial services sector.

Comments: (1)

A Finextra member
A Finextra member 30 January, 2014, 11:09Be the first to give this comment the thumbs up 0 likes

Zopa is a really exciting company. I think the Peer-to-peer lending platform that they deliver will have a massive shake up effect on traditional lending and how businesses and individuals think about borrowing.

Exciting times ...

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