In light of the coronavirus crisis the consumer lender has opted to stop originating C, D and E grade loans;...
Zopa has made updates to its loan pricing valuations after recently reporting technical issues; affected investors will be receiving refunds based on the updated calculations; the firm says that it has resolved any issues and is reporting monthly loan volumes of GBP80 million ($104 million). Source
Zopa was granted a preliminary banking license late last year but they are yet to launch their new bank; speaking...
Giles Andrews launched Zopa, the industry's first peer-to-peer lending platform, in 2005; he has now taken on a new role as the chairman of MarketInvoice; MarketInvoice provides P2P financing for small business invoices giving them an alternative source for working capital; Giles Andrews will help the firm scale its business and reach its 2017 goal of 2 billion British pounds ($2.48 billion) in lending. Source
Crowdfund Insider talked with Zopa about 2016 and 2017; the firm had a successful year in 2016 despite the industry's challenges; highlights from the year included lending over 680 million British pounds ($855.02 million) to nearly 100,000 customers, becoming profitable, securitizing its first loan portfolio and announcing plans to launch a bank; in 2017 the firm plans to build on its success while also beginning plans for launching a bank with deposit accounts and overdraft alternatives by 2018; in its core business products, Zopa CEO Jaidev Janardana says the firm will be looking for new partnerships that support its auto finance, point of sale and personal loan businesses. Source
The latest securitization of Zopa loans priced tighter than last year’s; it was led by P2PGI and arranged by Deutsche Bank; the senior tranche was rated AA by Moody’s; Jaidev Janardana, Zopa’s CEO stated, “This is a further demonstration of investor and market confidence in our origination and underwriting capabilities. Our ability to originate high quality loans continues to make the Zopa investment asset a distinctive and attractive one to retail and institutional investors alike.” Source
Crowdlending platform Lend raised CHF3.5 million ($3.47 million) from Polytech Ecosystem Ventures and other angel investors; the round will help the platform to continue building out their brand, upgrading their automation and increasing their marketing spend for Switzerland; Lend launched in January of 2016 and has thus far funded 300 loans; in addition to the funding Lend was also able to secure two new team members, Dr. Stefan Jaecklin, former head of Oliver Wyman Switzerland, and Dr. Luzius Anderegg, senior software developer at software company Ergon Informatik. Source
Yokoy, the all-in-one global spend management platform, has announced that it raised $26M (approx €22.4M) funding in a Series A round.
Žltý Melón's new offering for investors will allow them to lend money to homebuyers to help finance mortgage deposits; launched in 2012 the platform has facilitated EUR7 million (USD $8.2 million) to borrowers in the Czech Republic and Slovakia; the new loan offering, called the CashFree Hypo loan, will be available to anyone who has been approved for a standard mortgage by a bank in Slovakia. Source
Alex Bychkov, Embily's CEO explains the growing demand for crypto processing products.