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The Money Log

Zopa - a Borrower and a Lender Be

Zopa

If you’re looking for an alternative to the usual lenders out there, or would like to lend yourself, Zopa may be for you.

Zopa is UK-based and is said to be the financial equivalent of eBay. It puts borrowers and lenders directly in touch with one another.

Zopa has a very good management pedigree, it was created by the team that setup Egg, an online bank associated with the Abbey.

Pamela Atherton of the Telegraph writes: “Zopa was launched in March 2005, and has approximately 90,000 members. Sixty-three per cent are borrowers and 37 per cent lenders, with about 50 per cent of active lenders having already added to their original lending outlay. Zopa is coy about providing specific lending figures but insists that millions of pounds have been transacted since the launch, involving thousands of lenders and borrowers, and that more than 5,000 new members are being signed up each month.”

Another string to yet another financial bow.

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