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Zopa lends record level as it reaches 500 million

Posted on 31 Mar 2014 by Mat

It is official. Zopa has now lent over half a billion pounds to UK borrowers since launching in 2005 making peer-to-peer lending a mainstream activity.

Reaching £500m means we have also lent £200m in 12 months - that's 40% of all the money ever lent by Zopa. This huge rate of growth highlights the interest in Zopa and the success of Safeguard in helping protect your lending.

Zopa and peer-to-peer lending is no longer an experiment and for thousands of savers and borrowers in the UK it has become the preferred way to get better rates and service by cutting out the banks.

Without our customers, Zopa and peer-to-peer lending would not exist. So a big thank you to our 52,000 savers and 80,000 borrowers for choosing us. We will continue to work hard to give you more money through great rates.

Our very own Giles said, "Lending half a billion pounds is a fantastic achievement and a great sign of the appetite that UK savers and borrowers have to get a better deal through peer-to-peer lending. Zopa is growing faster than ever and with ISA inclusion on the horizon, we will soon be able to offer even more value to millions of UK savers.

"As the world's first peer-to-peer lender we are very proud to reach this industry milestone, made possible only by the support of our customers.

"We also have to say a huge thanks to the great team we have here at Zopa who work hard every day to ensure we can keep offering the best service possible."

If you are new to Zopa then you can learn more about how peer-to-peer lending works and our low rate loans on our website.

If you're an existing member you can also benefit by earning cash rewards from our refer a friend programme. You and any friend you refer will get £25 each for every new saver that goes on to lend £2,000 or more, or for every new borrower.

Thanks again for using Zopa and roll on that billion pound total.

Filed under general, lending, news, milestones

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