29 Aug 2015
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
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
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
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
Watch Zopa's New TV AdvertGo to Article
03 Jun 2015
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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.Go to Article
20 May 2015
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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.Go to Article
19 May 2015
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
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
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
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 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, 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
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
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
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