Zopa lends £250m in 12 months as peer-to-peer lending becomes “a mainstream activity”

In reaching this milestone, Zopa has now lent a total of £657 million with 38% (£250 million) of this total being lent in the last 12 months. 

Although Zopa is predominantly a P2P lender as opposed to a P2B lender, since trading commenced the company has lent some £500,000 to UK sole traders.  

Giles Andrews, Zopa’s CEO and co-founder (pictured) said: “We are delighted to have lent a quarter of a billion pounds in 12 months. To put that into perspective Zopa has lent more in the last year than we had lent in seven years of lending from 2005-2012.

“The growth we’re experiencing is testament to our multi-award winning customer service and providing outstanding value to consumers as 97% of our customers would recommend us. The industry growth we’re seeing really goes to show that P2P lending is fast becoming a mainstream activity. Our mission is to always provide great value to our customers by making money simple and fair.”  

With the inclusion of peer-to-peer lending in ISAs on the horizon, Zopa expects peer-to-peer lending to enter the mainstream in Q2 of 2015 as consumers look for better value from alternative providers by cutting out the banks.