Zopa, a social finance company, has launched peer-to-peer lending service in US and Italy.
The company has earlier introduced its first peer-to-peer lending service in the UK. The US version of Zopa offers a version of ‘social finance’ designed to fit the local market, with a much greater emphasis on safety than existing competitors in the country.
As in the UK, Zopa’s emphasis on safety is delivered through careful assessment of individual borrowers’ credit risk and the affordability of the loan they are seeking, along with all lenders’ money being spread across at least 50 borrowers.
Douglas Dolton, CEO of Zopa, said: A revolution is underway in financial services. In countries around the world, there is tremendous excitement over a new class of peer-to-peer financial products that connect people together in mutually beneficial financial relationships. With today’s launch in the US and Italy, we’re bringing borrowers in these countries a less expensive unsecured personal loan, and investors in these countries a safe way to make returns and help others in the process.