Zopa Overview

Being the world’s first peer-to-peer platform is quite the claim in what is now a blossoming market.

Zopa carries this torch with continued success, with the company being one of the four major market players in the UK peer-to-peer industry.

The innovative finance ISA (IFISA), is  another tool which is helping Zopa maintain its grip on peer-to-peer investors.

The firm was approved to offer ISAs by the Financial Conduct Authority (FCA) in June 2017, and begun by offering rates of 3.9% and 6.1%.

As one of the UK’s largest peer-to-peer platforms, we thought it necessary to give potential investors a background on the company, its achievements and of course, its IFISA offering.

Zopa overview

Zopa has won a steady stream of awards since it was founded, to this present day. Some of the more striking sounding of its awards include “1 of 11 firms that will change it all” in 2006, “Most Threatening Non-bank Competitor” in 2008.

But as well as its business successes being recognised, it’s has won awards years after year as a technological and financial innovator, most trusted lender, best customer services and best overall.

In November 2016, Zopa declared its goal of launching a ‘next generation bank’ to run alongside its existing peer-to-peer business. Zopa claimed in a statement that the bank “should allow us to create new and innovative savings and borrowing products.”

Zopa partners with numerous businesses to expand its visibility and reach; from brokers and affiliates to retailers and banks. Some of these partnerships include allowing Metro Bank to lend through its platform, helping its own customers to pay off their loans through Airbnb hostings and selling debt consolidation loans through money management app Pariti.

So far, Zopa has enabled £2.2 billion worth of lending to 233,000 UK retails customers since 2006.

Originally Published: Monday, September 10th, 2018
Updated: Wednesday, November 28th, 2018

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