Zopa connects people who want to lend with people who want to borrow, and since there is no bank in the middle of the transaction, consumers typically get a better financial deal. Since its UK launch in March 2005, Zopa has gained more than 55,000 members and continues to grow rapidly.
Zopa has already made a difference in thousands of consumers’ lives in the UK by giving them a smarter, fairer and more transparent way to lend and borrow money. As well as getting a better financial deal, Zopa’s lenders and borrowers are enjoying the experience of dealing directly with other people, in a controlled and risk-managed environment, said Richard Duvall, Zopa’s CEO.
Following this round of funding, Rob Stavis, of Bessemer Venture Partners (who led the financing of Skype) will join the Zopa board of directors in strategic counsel as Zopa prepares to enter the California market.
Like Skype, Zopa has enormous potential globally to give consumers a better deal by cutting out the incumbents – in this case the banks, said Mr Stavis. We’re delighted to be part of the Zopa team and are very excited about bringing such an innovative financial services solution to California.
