Examine individual changes

'{{Other uses}} {{Infobox company | name = Zopa Limited | logo = Zopa_Corporate_Logo.svg | logo_size = 260px | type = [[Ltd.]] | founders = Giles Andrews <br />James Alexander<br />Richard Duvall<br />David Nicholson<br />Tim Parlett | hq_location = Cottons Centre | hq_location_city = [[Tooley Street]], [[London]] | hq_location_country = [[England]], [[UK]] | area_served = | key_people = Jaidev Janardana(CEO)<ref>{{cite |title=Zopa CEO Jaidev Janardana: Leading UK P2P Lending with Superior Service, Transparency and Cutting-Edge Fintech |url=https://www.mcgill.ca/channels/news/zopa-ceo-jaidev-janardana-leading-uk-p2p-lending-superior-service-transparency-and-cutting-edge-fint-261309|work= [[McGill University]]|}}</ref> | industry = [[Peer-to-peer lending]] | genre = | products = [[Peer-to-peer lending|P2P lending]]<ref name="NewYorkTimes2014June09ScottMark">{{cite news|last1=Scott|first1=Mark|title=A Lift for One of London’s Financial Tech Start-Ups|url=https://dealbook.nytimes.com/2014/06/09/boost-for-one-of-londons-bevy-of-financial-tech-start-ups/|accessdate=9 March 2017|agency=The New York Times Company|issue=DealBook|publisher=New York Times|date=9 June 2014|location=New York, N.Y., United States|page=B3|language=English}}</ref> | revenue = | operating_income = | net_income = | owner = | num_employees = | parent = | subsid = | footnotes = | vector_logo = | foundation = {{Start date and age|2005|03}}<ref name="NewYorkTimes2006February05AkstDaniel">{{cite news|last1=Akst|first1=Daniel|title=Where Lender Meets Borrower, Directly|url=https://www.nytimes.com/2006/02/05/business/yourmoney/where-lender-meets-borrower-directly.html|accessdate=9 March 2017|agency=The New York Times Company|issue=Business Day|publisher=New York Times|date=5 February 2006|location=New York, N.Y., United States|language=English}}</ref><ref name="NewYorkTimes2012December10WerdigierJulia" /> | origins = | slogan = | homepage = {{URL|http://www.zopa.com/}} | dissolved = }} '''Zopa''' is a UK online personal finance [[peer-to-peer lending]] company founded in 2004.<ref>{{Cite news|url=https://www.telegraph.co.uk/business/2016/03/05/zopa-aims-for-enough-growth-to-stop-explaining-its-name/|title=Zopa aims for enough growth to stop explaining its name|last=Cave|first=Andrew|date=2016-03-05|work=The Telegraph|access-date=2018-04-11|language=en-GB|issn=0307-1235}}</ref> It launched in the UK in March 2005.<ref>{{Cite web|url=https://www.theguardian.com/money/2014/feb/15/major-peer-to-peer-lenders-profiled|title=The major peer-to-peer lenders|last=Jones|first=Rupert|date=2014-02-15|website=the Guardian|language=en|access-date=2018-04-11}}</ref> Zopa was the first peer-to-peer lending company.<ref name="BBC2005March07">{{cite news|url=http://news.bbc.co.uk/1/hi/business/4325761.stm|title=Q&A: Online lending exchange|date=7 March 2005|accessdate=4 July 2016|publisher=BBC|agency=BBC|location=United Kingdom|language=English}}</ref> ==History== Zopa was launched in the UK in March 2005.<ref>{{Cite news|url=https://www.forbes.com/sites/davidprosser/2015/03/06/happy-birthday-zopa-the-inventor-of-p2p/#63936e743a76|title=Happy Birthday Zopa, The Inventor Of P2P|last=Prosser|first=David|work=Forbes|access-date=2018-04-11|language=en}}</ref> It was founded in [[Buckinghamshire]] in 2004 by a team from the internet banking company [[Egg Banking]].<ref name="FinancialTimes2015August14EvansJudith">{{cite news|last1=Evans|first1=Judith|title=My Money — Giles Andrews, Zopa chief|url=https://www.ft.com/content/a27d55f4-4037-11e5-b98b-87c7270955cf|accessdate=8 March 2017|agency=Nikkei|publisher=Financial Times|date=14 August 2015|language=English}}</ref><ref>{{Cite web|title = Zopa opera|url = http://www.computing.co.uk/ctg/analysis/1863087/zopa-opera|accessdate = 2015-10-03|website = computing.co.uk}}</ref> Zopa grew steadily<ref>{{Cite web|url=https://www.verdict.co.uk/p2p-lending-industry-grow-up/|title=P2P lending: where will the P2P industry go next? - Verdict|website=www.verdict.co.uk|language=en-GB|access-date=2018-04-11}}</ref> in the years prior to the [[financial crisis of 2007–2008]]. It navigated the period with no losses to investors' capital and only a small dip in returns during 2008.<ref>{{Cite news|url=https://www.telegraph.co.uk/finance/markets/questor/11759729/How-safe-is-peer-to-peer-lending.html|title=How safe is peer-to-peer lending?|last=Ficenec|first=John|date=2015-07-26|access-date=2018-04-11|language=en-GB|issn=0307-1235}}</ref> In September 2016, the first portfolio of Zopa loans was securitised on the European markets.<ref name="FinancialTimes2016September26HaleThomas">{{cite news|last1=Hale|first1=Thomas|title=Debut securitisation for Zopa loans|url=http://www.ft.com/fastft/2016/09/26/zopa-prices-debut-peer-to-peer-loan-securitsation/|accessdate=10 November 2016|agency=Nikkei|publisher=Financial Times|date=26 September 2016|location=United Kingdom|language=English}}</ref> In November 2016, Zopa announced that it would apply for a banking license <ref name="TheTimes2016November17HurleyJames">{{cite news|last1=Hurley|first1=James|title=Peer-to-peer lender Zopa to launch bank|url=http://www.thetimes.co.uk/article/peer-to-peer-lender-zopa-to-launch-bank-3sr7ht5nt|accessdate=8 March 2017|agency=Times Newspapers Limited|issue=Business|publisher=The Times|date=17 November 2016|location=United Kingdom|language=English}}</ref> in order to offer customers a broader set of personal finance products.<ref>{{Cite news|url=https://www.ft.com/content/53aa3dec-ac07-11e6-9cb3-bb8207902122|title=Peer-to-peer lending pioneer seeks banking licence|last=Dunkley|first=Emma|date=|work=Financial Times|access-date=|archive-url=|archive-date=|dead-url=}}</ref> In January 2017, Zopa became the first UK based peer-to-peer lending company to lend more than £2 billion worth of loans.<ref>{{Cite news|url=http://uk.businessinsider.com/peer-to-peer-zopa-passes-2-billion-lent-over-platform-2017-1|title=Peer-to-peer lender Zopa passes £2 billion loans milestone|work=Business Insider|access-date=2018-04-11}}</ref> Zopa became fully regulated by the [[Financial Conduct Authority]] in May 2017.<ref>{{cite news|last1=Williams|first1=Aime|title=Zopa gets FCA approval as peer-to-peer lender|url=https://www.ft.com/content/06db527a-363c-11e7-99bd-13beb0903fa3|accessdate=15 May 2017|publisher=Financial Times}}</ref><ref>{{Cite news|url=http://www.cityam.com/264542/zopa-just-got-full-approval-p2p-lender-financial-conduct|title=Zopa just got full approval as a P2P lender from the FCA|last=Barber|first=Lynsey|date=2017-05-11|access-date=2018-04-11|language=en}}</ref> Following FCA authorisation, and [[HM Revenue and Customs|HMRC]] approval as an [[Individual Savings Account]] (ISA) manager, Zopa started offering its Innovative Finance ISA products in June 2017.<ref>{{Cite news|url=https://www.telegraph.co.uk/investing/news/zopa-scraps-key-saver-protection-offers-isas-paying-61pc/|title=Zopa Isa offering up to 6.1pc finally available|last=Suter|first=Laura|date=2017-05-26|work=The Telegraph|access-date=2018-04-11|language=en-GB|issn=0307-1235}}</ref> ==Products and services== ===Business Model=== ;Peer-to-peer lending Zopa enables investors to lend to UK consumers directly through its peer-to-peer lending platform.<ref>{{Cite news|url=https://www.moneysavingexpert.com/savings/peer-to-peer-lending|title=Peer to peer lending: boost savings returns? - MSE|last=Lewis|first=Martin|date=|work=MoneySavingExpert.com|access-date=2018-04-11|archive-url=|archive-date=|dead-url=|language=en}}</ref> Borrowers can take out loans between £1,000 and £25,000.<ref>{{Cite web|url=https://www.comparethemarket.com/loans/information/zopa-loans/|title=comparethemarket.com - Zopa loans|website=www.comparethemarket.com|language=en-gb|access-date=2018-04-11}}</ref> Typically individuals use these to funds to help buy a car, consolidate debts, cover home improvements or weddings.<ref name="NewYorkTimes2012December10WerdigierJulia">{{cite news|url=https://dealbook.nytimes.com/2012/12/10/rit-capital-to-take-stake-in-british-financial-start-up/|title=RIT Capital to Take Stake in British Financial Start-Up|last1=Werdigier|first1=Julia|date=10 December 2012|accessdate=9 March 2017|publisher=New York Times|agency=The New York Times Company|issue=DealBook|location=New York, N.Y., United States|language=English}}</ref> Investors can choose from four investment products<ref>{{Cite news|url=https://www.ft.com/content/fe013298-0118-11e8-9650-9c0ad2d7c5b5|title=P2P platform Zopa re-opens to new customers|last=Beioley|first=Kate|date=|work=Financial Times|access-date=|archive-url=|archive-date=|dead-url=}}</ref> based on their risk and return appetite. Investors’ money is split across multiple borrowers.<ref>{{Cite web|url=https://www.which.co.uk/money/investing/types-of-investment/guides/peer-to-peer-investing/peer-to-peer-lending-explained|title=Peer-to-peer lending explained - Which?|website=Which?|language=en|access-date=2018-04-11}}</ref> Investors then receive monthly repayments of interest and capital, which they can relend to compound the interest. ===Bank launch=== In November 2016, Zopa announced its intention to apply for a banking license so it could expand the range of financial products it offers to UK consumers.<ref>{{Cite news|url=https://www.thetimes.co.uk/article/peer-to-peer-lender-zopa-to-launch-bank-3sr7ht5nt|title=Peer-to-peer lender Zopa to launch bank|last=Editor|first=James Hurley, Enterprise|date=2016-11-17|work=The Times|access-date=2018-04-11|language=en|issn=0140-0460}}</ref> Zopa’s bank is scheduled to launch in 2018 and will sit alongside its peer-to-peer lending business. Zopa plans to offer FSCS protected deposit accounts, credit cards,<ref>{{Cite news|url=http://uk.businessinsider.com/zopa-ceo-jaidev-janardana-on-building-a-new-bank-2017-10|title=Zopa is 'pretty close to finishing' building its new bank|work=Business Insider|access-date=2018-04-11|language=en}}</ref> and a money management app which makes use of data made available by the introduction of [[Open banking|Open Banking]].<ref>{{Cite news|url=http://www.altfi.com/article/3116_zopa_boss_janardana_sheds_light_on_customer_centric_bank|title=Zopa boss Janardana details plans for customer-centric bank - AltFi Opinion|work=AltFi|access-date=2018-04-11|language=en-GB}}</ref> As per August 2018, Zopa scooped £44 million in funding for the launch of its new digital challenger bank.<ref>{{Cite news|url=https://www.crowdfundinsider.com/2018/08/137323-digital-bank-zopa-raises-44-million-to-help-fuel-expansion-launching-our-bank-is-a-key-next-step/|title=Digital Bank: Zopa Raises £44 Million to Help Fuel Expansion, "Launching Our Bank is a Key Next Step" {{!}} Crowdfund Insider|date=2018-08-03|work=Crowdfund Insider|access-date=2018-08-07|language=en-US}}</ref> In December 2018 the company was finally awarded with licenses from UK financial regulators, such as FCA and PRA.<ref>{{Cite news|url=https://techcrunch.com/2018/12/04/zopa-bank/|title=Zopa, the UK P2P lending company, secures bank license|work=TechCrunch|access-date=2018-12-04|language=en-US}}</ref> ==Corporate identity== ===Headquarters=== The company's main office is currently based at London Bridge<ref name="CrowdfundInsider2016August04HurstSamantha">{{cite news|last1=Hurst|first1=Samantha|title=Zopa Relocates: Moves Into New London Bridge Digs|agency=Crowded Media Group|issue=|publisher=Crowdfund Insider|date=4 August 2016|language=English}}</ref> Zopa also has a Development Centre in Barcelona, Spain. The centre has been running since 2017.<ref>{{Cite news|url=https://www.crowdfundinsider.com/2017/06/101572-zopa-establishes-development-center-barcelona/|title=Zopa Establishes Development Center in Barcelona {{!}} Crowdfund Insider|date=2017-06-07|work=Crowdfund Insider|access-date=2018-05-15|language=en-US}}</ref> ===Brand=== ====Zopa etymology==== Its name stands for "[[Zone of possible agreement]]", a negotiating term identifying the bounds within which agreement can be reached between two parties. ==See also== * [[Comparison of crowd funding services]] * [[Peer-to-peer lending]] ==References== {{reflist}} {{Peer-to-peer lending companies}} [[Category:Peer-to-peer lending companies]]'