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Peer-to-peer lending turns 10 today
Peer-to-peer lending turns 10 today, which can only mean that today is Zopa's 10th birthday. Many happy returns (excuse the pun)!
We should also remember that peer-to-peer lending originated here in the United Kingdon with the launch of Zopa - "The first lending and borrowing exchange" back in 2005.
Here are some interesting statistics for Zopa:
- Over £750m lent to date
- £266m lent in 2014 alone
- £334m in outstanding loans
- £46m in interest returned to lenders
- 58,000 lenders
- 107,000 borrowers
- 0.58% historic default rate 2005-2015
- Average lent £6,800 per lender
- Average loan size £7,250
- Largest lender – £2.3m lent