Peer-to-peer lender Zopa has teamed up with challenger bank Metro Bank to lend funds through the latter’s marketplace.

The deal marks the first of its kind in the UK as Metro Bank, already lending funds to Zopa’s consumer borrowers, recognises peer-to-peer (P2P) lending as a new asset class.

Zopa’s chief executive Giles Andrews described it as a “clear sign that Zopa is trusted platform not only for consumers but also institutions to deploy their funds”.

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