Zopa, the UK-headquartered online peer-to-peer (P2P) lender, has reported lending over £250m since it launched in 2005.
Zopa enjoyed a record month in October 2012 with monthly lending soaring by 90% compared to the same month last year.
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Giles Andrews, CEO and co-founder of Zopa said:
"Passing the quarter of a billion milestone with monthly volumes way up on just a year ago, proves that increasing numbers of people are looking beyond the banks to find the best savings and borrowing rates.
"At Zopa responsible borrowers with a good credit record can get rates lower than the banks are offering and with no early repayment penalties. And long suffering savers no longer need to watch inflation eat their savings while banks continue to pay derisory rates – lenders have enjoyed an average fixed rate return of 5.4% p.a. on loans they’ve made over the last 12 months, after charges and average defaults have been deducted."
Andrews added: "We bring responsible people together around an approach that is uniquely self-supporting and presents UK savers and borrowers with a better alternative to their bank."
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By GlobalDataUK-based Zopa, the world’s first online P2P lending marketplace launched in the UK in 2005.
Andrews told RBI last October that Zopa was, for the first time, set to make a profit.
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