Voting Closed
Find out tonight if we have been voted THE SMARTEST business at the Smarta 100 awards - 19th May, London
- Founder name(s):
- Giles Andrews
- Company:
- Zopa
- Website:
- http://www.zopa.com
- Proposition:
- Internet lending and borrowing marketplace enabling people to lend and borrow money between themselves, get a better deal and cut out the banks.
Zopa
Launched in 2005 by a group that included several members of the
founding team of internet bank Egg, Zopa describes itself as the
world's first 'peer-to-peer lending and borrowing marketplace',
connecting those who wish to lend with those who need to borrow
money for a short-term loan. With investment from the likes of
Balderton Capital, the business got off to a flying start but
suffered a setback when its visionary leader, Richard Duvall, was
diagnosed with cancer and died just weeks later. Having taken
leadership of the company, Andrews says the financial crisis was
enormously helpful to the business: in 2009, it lent more money
than it had in the previous three years.
- New, highly innovative business model
- Gained regulation from the FSA
- Credit crisis was actually an advantage, encouraging borrowers
to turn to means other than banks