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Zopa reaches £1 billion lent out

Zopa reached a milestone today as we have now made £1 billion of loans – another industry first to add to the list for Zopa – and I’d like to say a huge thank you to all our lenders and borrowers for making it happen.

When we started Zopa, our aim was to build a service for everyday consumers that provides better value to both lenders and borrowers by making the process more efficient, simpler, fairer and more transparent than the banks.

So I think it’s even more significant that we have helped over 200,000 people with their finances, either by getting a low cost loan or helping them grow their money. So far we have returned over £57m in interest to our lenders and made over 157,000 personal loans. And we’ve done so while delivering award-winning customer service, winning Moneywise Best Loan Provider for the last 6 years in a row and Moneyfacts best customer service overall for the last 2 years, beating great businesses like First Direct and M&S Bank.

But we have only just got started!

As a business we are aiming for the moon but are just about to break through the atmosphere, meaning we still have a long way to go in our mission to become a market leader in financial services.

We led the charge for the regulation of the sector we created and now I’m proud that have a dedicated regulatory framework, uniquely in the world. We will also soon see Zopa lending gain ISA status after many years of campaigning for a level playing field with other investment products.

And our trajectory is accelerating.

It has taken us 10 years to reach our first billion but with your support, we hope to reach the next as soon as 2016.

As always we love hearing your stories about how Zopa has helped you so please continue to let us know via stories@zopa.com

With the thanks again of the whole Zopa team.

Giles