Last Friday was one to celebrate here at Zopa Towers, not just because it was the start of the weekend but because we achieved a major milestone for the company by lending out over £52m in July. Our record-breaking month also set a new record for the UK and European peer-to-peer industry.
Our previous record stood at £45m for a single month, so it was great to have beaten that volume by over 10%. To put this into context, borrowing has more than doubled compared to July 2014 - it’s up 122%. We’ve now lent over £270m for the year to date. That’s more than the total amount lent in 2014 and we’ve still got 5 more months to reach our yearly target of £550m.
The team celebrated with cheesecake, fizz and beers making the most of our outside terrace and warm weather.
We wanted to say a huge thank you to all our lenders and borrowers who help us continue to grow and break these records.
The next big milestone on the horizon is £1 billion lent in total, which at current rates of lending is likely to happen over the next couple of weeks and will again see Zopa lead the way when it comes to P2P lending.