09 Nov 2015

Andy Murray Serves Up An Ace For British Entrepreneurs As He Backs You Tube of 3D Printing and Subscription Razor Firm

Two small British businesses have received a financial boost from Andy Murray via crowdfunding.

The tennis star injected an undisclosed amount of cash in to the  'Youtube of 3D printing' MyMiniFactory and also subscription razor business Shavekit through online platform Seedrs.

London-based Shavekit has smashed its crowdfunding target of £150,000, with £204,150 already invested with xx days/weeks left before the funding period closes.

Earlier this year, the platform received a combined investment of £7.5million from high-profile manager Neil Woodford's Patient Capital Trust and venture capital firm Augmentum Capital.


Go to Article

25 Sep 2015

Wealthy Pawn Classic Cars and More to Pay Tax Bills

Wealthy debtors are turning to alternative borrowing, including pawning classic cars and other luxury assets, to settle large tax bills at short notice with HM Revenue & Customs.

Since last August, more than 25,000 taxpayers have received demands to pay disputed sums as the UK tax authority ramps up efforts to reclaim £5.5bn it deems to have been avoided.

Go to Article

14 Sep 2015

Zopa Doubles Revenue In Peer-To-Peer Boom

Peer-to-peer lender Zopa saw its revenues double last year as more savers and borrowers used its platform – but its losses also doubled as the business hired more staff to prepare for its planned future growth.

Revenues jumped from £5.4m in 2013 to £11.5m in 2014, according to the innovative finance firm’s latest set of financial statements. But at the same time its costs jumped, sending its losses up from £2.6m to £5.6m. 

Go to Article

30 Aug 2015

Peer-To-Peer Lender Zopa Installs Jaidev Janardana As Chief

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/1ce3f3c4-4f1b-11e5-b029-b9d50a74fd14.html#ixzz3odzvPDpP


Zopa, the British peer-to-peer loan pioneer, has appointed a new chief executive as it seeks to draw more pension and personal savers to the alternative finance market.

Jaidev Janardana, who joined the business last year as chief operating officer, is taking the helm two weeks after Zopa’s online platform processed its billionth pound of P2P lending. He will replace Giles Andrews, who will become executive chairman after co-founding Zopa in a Buckinghamshire barn just over decade ago.

Go to Article

29 Aug 2015

Zopa Boss Steps Aside To Focus On Strategic Growth

The head of peer-to-peer lending business Zopa is to step aside, with immediate effect, to be replaced by his number two.

The Telegraph has learnt that chief executive Giles Andrews, after eight years in the role, is to be replaced by Jaidev Janardana, the chief operating officer. Mr Andrews will instead take on the role of executive chairman.

The move comes just weeks after the alternative finance provider announced that it had issued more than £1 billion in loans since its inception a decade ago. The business has announced ambitious targets to lend a further £1 billion by the end of 2016. 

Go to Article

17 Aug 2015

UK Peer-To-Peer Lenders Turn Attention To Asia

Asia is the focus as the next growth area for providers of alternative finance in the UK, despite concerns over the number of companies going bust and a lack of regulation.

Peer-to-peer platform Ratesetter and small business lender Iwoca were among a cohort of “fin-tech” companies that accompanied David Cameron, the UK prime minister, on a trade and foreign policy mission to Asia this month. 

Go to Article

14 Aug 2015

My Money - Giles Andrews, Zopa Chief

Back in 2004, a group of businessmen sat in a barn in Buckinghamshire throwing around ideas. Was there a way to create some kind of bond market for consumers? Since most armchair investors might not understand the bond markets, could it be simplified into an eBay-like model with the added twist of a social return?

Just over 10 years later, Zopa, the pioneering peer-to-peer lender that resulted, is about to process its billionth pound in consumer loans. Of that original team, the founder, Richard Duvall — who also dreamt up the online bank Egg — died suddenly from cancer while Zopa was at a nascent stage. Three more directors left the company as it struggled to build momentum. But Giles Andrews, now Zopa’s chief executive, has stayed the course from barn to billion.

Go to Article

29 Jul 2015

Rothschild-Backed Fund and Woodford Lead £10m Seedrs Investment

A venture-capital fund backed by Lord Rothschild and fund manager Neil Woodford have led a £10m investment round into Seedrs as the crowdfunding platform plans to expand overseas.

Augmentum Capital, founded by entrepreneurs Tim Levene and Richard Matthews, and the Woodford Patient Capital Trust are investing £7.5m into Seedrs, while a further £2.5m will be offered to existing shareholders and other individual investors through a campaign on the platform. 

Go to Article

15 Jul 2015

Zopa's New TV Advert

Watch Zopa's New TV Advert

Go to Article

03 Jun 2015

New Sources Of Funding Bring Difficult Choices

The digital revolution is in full swing, spearheaded by entrepreneurs employing technology that is disrupting sectors from finance to food shopping.

Digitally focused companies such as Uber, the taxi application, and Zopa, the peer-to-peer lender, have emerged in the past decade alongside large numbers of others who are shaking up traditional industries.

Full Article

Go to Article

20 May 2015

Metro Bank Strikes Deal To Lend Through P2P Site

Metro Bank has struck a deal to become the first British bank to lend through a peer-to-peer platform, fuelling concerns that institutions are crowding out individual investors from the rapidly growing sector.

Full Article

Go to Article

19 May 2015

Financial Challengers Zopa and Metro Bank Join Forces To Bring Peer-to-Peer Lending and High Street Banking Together

Peer-to-peer lender Zopa has teamed up with challenger bank Metro Bank to lend funds through the latter's marketplace.

The deal marks the first of its kind in the UK as Metro Bank, already lending funds to Zopa's consumer borrowers, recognises peer-to-peer (P2P) lending as a new asset class.

Zopa's chief executive Giles Andrews described it as a "clear sign that Zopa is trusted platform not only for consumers but also institutions to deploy their funds".

Go to Article

09 May 2015

From the people, for the people

SAVERS DO NOT get much in the way of interest from their banks these days. But a different logic seems to apply to borrowers, who still often pay double-digit rates for credit—if they can get it at all. That has attracted a number of outfits offering to connect those who need cash with those who have a surplus of it. The rapid growth of such “peer-to-peer” lenders has been one of fintech’s most visible successes. The biggest such firm, Lending Club, based in San Francisco, listed its shares in December to a clamour reminiscent of the 1999 tech boom.

Go to Article

30 Mar 2015

This is the future of savings – but you can profit today

Last week’s Budget marked a “savings revolution” when George Osborne announced that 95pc of taxpayers would be removed from any savings tax liability from next year. This has left the cash Isa, introduced in the late Nineties by Gordon Brown, suddenly less attractive.

A new “personal savings allowance” will allow basic-rate taxpayers to earn up to £1,000 of interest on ordinary savings accounts, current accounts, bonds and other deals tax-free. Higher-rate taxpayers can earn £500 before their income is taxed. 

Go to Article

09 Mar 2015

How peer-to-peer finance is blossoming into a multi-billion pound industry

It’s 10 years today that the first peer-to-peer lender was founded in a barn in Buckinghamshire in March 2005. That was Zopa which has now lent nearly £750m, and expects to hit £1bn this summer.

Meanwhile the peer-to-peer finance industry has blossomed throughout the world with the global industry now worth more than $10bn.

Go to Article

09 Mar 2015

Happy Birthday Zopa, The Inventor Of P2P

Happy birthday Zopa. The world’s first crowdfunding platform celebrates its 10th birthday today and though it took some time to break through, Zopa can now claim to have spawned a movement that is taking on the established banking industry in markets all around the world.

Go to Article

10 Feb 2015

Borro Gets $19M From Rocket Internet, OurCrowd To Expand Its Online Pawnshop For Luxury Goods

Borro, the U.S. and UK-based online platform that people borrow money and put up luxury items as collateral, is today announcing $19 million in new funding led by strategic investments from Israel’s OurCrowd and Berlin’s Rocket Internet.

Go to Article

10 Feb 2015

Learning To Live With Peer-To-Peer Pressure

The first of the new breed of internet lenders is no longer the new kid on the block

Peer-to-peer lending is often praised for allowing people to lend to one another directly over the web, bypassing traditional lenders, but Giles Andrews knows through bitter experience that creating a true direct link between lender and borrower can be disastrous. 

Go to Article

18 Jan 2015

Now Pensioners Can Get A 4% Return - but What Hope Is There For Other Savers?

Whether you're 65 or 25, everyone could beneift from a savings overhaul in these difficult times. Lisa Bachelor looks at the various options.   

Go to Article

10 Jan 2015

Peer-To-Peer Lender Zopa Sales Leap As Industry Eyes Challenge To Banks

The UK’s biggest peer-to-peer lender has almost doubled revenues amid a boom in loans, as the nascent sector seeks to challenge the major banks.

Zopa, which links up thousands of borrowers and savers over the internet, grew revenues by 81pc in 2013, according to accounts filed at Companies House. 

Go to Article