It was a busy year! Here’s what the press said about us in 2017:
Gearing up to launch a next generation bank
Progress on our bank build attracted lots of attention, particularly after Jaidev, our CEO, gave a keynote speech at LendIt Europe, which was covered by Business Insider. Jaidev also discussed the bank when he sat down for an exclusive interview with Alt Fi, an alternative finance magazine. The interview covered the bank launch, and the products that will be on offer, as well as topics like Open Banking and Zopa’s customer-centricity.
In June, we raised £32m in funding to help build our bank, which was featured throughout the press: in The Times, The Telegraph and CNBC, to name a few. June was also the month that we opened our development centre in Barcelona, which was picked up by The Telegraph.
Zopa’s growth and profitability
2017 was another year of lending records for Zopa. As we entered the year, Business Insider reported that we passed £2 billion in disbursals – the first UK peer-to-peer lender to do so. At the other end of the year, in November, we had our biggest month ever, when we lent £100 million – a UK consumer peer-to-peer lending first, reported on by City AM.
Business Insider discussed our profitability when we published our annual accounts. The piece looked at our rise in revenues, noting our profitable status, as well as the increase in loan originations from 2016 to 2017.
Full FCA authorisation
In May Zopa became the first major peer-to-peer lender to be granted full authorization. The good news saw wide coverage, including in the FT, The Times, The Telegraph, and City AM. This meant we could apply to become an ISA Manager and we were the first major peer-to-peer lender to offer an IFISA.
New products, new partnerships, and another securitisation
The announcement of plans to launch the IFISA, as well as introduce Core, and retire Access, Classic and the Safeguard fund was a hot topic for the press. Both the FT and The Telegraph wrote pieces detailing the changes.
In October, we made our loans available on the high street for the first time through our partnership with Saffron Building Society. City AM covered the news, which enables customers to take out a Zopa loan in Saffron’s branches, as well as via their website.
And finally, a securitisation of £208.9 million of Zopa loans was completed in October. This was discussed in a piece by Global Capital, as well as featured in an article by the FT. The FT looked back at the performance of Zopa’s first securitisation, and commented on the improvement in price in 2017 thanks to strong market demand.