Zopa exits peer-to-peer lending

The pioneer of peer-to-peer lending Zopa is to shut its P2P platform after 16 years in a bid to focus on its growing bank and credit card business, AltFi can exclusively reveal.

Zopa Bank, the company’s 18 month old neo bank business, will be buying the retail P2P loan portfolio at face value from the firm’s c.60,000 investors who will receive their investment balances back by the end of January 2022. 

Read more: AltFi