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Zopa exits peer-to-peer lending to focus on banking
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It once hoped to make banks a thing of the past by cutting them out of the equation, but now Zopa is shutting down its “peer-to-peer” (P2P) lending arm after 16 years – so it can concentrate on being a bank.
The company has contacted its 60,000 existing P2P investors to let them know that it will be handing them back their money – leaving them to find a new home for their cash at a time of ultra-low savings rates.
P2P platforms bypass the banks by linking savers looking for a better return with
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