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Zopa: From a Barn to £670 Million
Giles Andrews, CEO and co-founder of Zopa, a consumer loans P2P lending company, was at the recent LendIt conference. His presentation, called “Born in a Barn“, showed just how far the world's first P2P lending company has come.
In ist ninth year, it has lent £250 million.
Zopa's bad-debt provision fund has easily covered all losses since it was first created. The reserve pot has now climbed to £6 million.
The website now has nearly 60,000 active lenders, who have earned £42 million in interest between them. £14 million of that was earned in the past year.
The average Zopa lender lends £6,400, which is around £1,000 more than the average for individual lenders who lend to consumers.
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