AltFi: How Zopa transformed itself from P2P lender to award-winning bank in three years

“While Zopa is hardly the new kid on the block — it was founded in 2005 — the pivot from successful peer-to-peer lender to ‘Zopa Bank’ in its current form happened just three years ago.

Now, the bank has reached one million customers using its products, an annualised revenue of £250m and is operating profitably. 

Customers saved on average 4.5 times more interest with Zopa than they would have at a high street bank last year, while the bank introduced a number of products to help users through the cost-of-living crisis.”

Read more here.