A profitable September for Zopa
The month’s most exciting news was that Zopa was profitable in September 2016. We were profitable in 2012 and 2013, but for the last few years we’ve made a loss as we’ve invested for growth. However, earlier this year we made the decision to shift the business to profitability, and we were EBITDA positive by August and had a profitable September.
Airbnb partnership launch
LendIt Europe - the reaction to Adair Turner’s comments
Back to LendIt. Among the many discussions about regulation, transparency and data, there was one talk that really made headlines: Adair Turner’s apparent U-turn on February’s comments. AltFi ran a piece entitled Alternative credit growth could make the economy safer, says Lord Turner and it was covered in the the FT (subscription required) and Bloomberg. Among others, the Personal Finance editor of The Telegraph welcomed the comments, writing an opinion piece entitled ‘Unlike banks, peer-to-peer lets us examine the risks.
Q3 industry figures announced
The P2P Finance Association, released industry lending figures for Q3 of 2016. Over £700 Million in New P2P Lending During Q3 wrote Crowdfund Insider and City AM reported that Peer-to-peer lending grows yet another quarter. This comes on the back of record Septembers for the UK’s major platforms.
Why use P2P anyway?
Our Chief Product Officer, Andrew Lawson, talked about P2P’s risk and return profile in a Moneywise piece entitled Five reasons to consider peer-to-peer lending.
Want to read more Zopa and P2P news? Check out previous months’ news round-ups.