Zopa has been granted full authorisation by the Financial Conduct Authority (FCA) for peer-to-peer lending.

Giles Andrews, co-founder and Chairman of Zopa said “Zopa, both individually and as a founder member of the Peer-to-Peer Finance Association (P2PFA), has campaigned for peer-to-peer lending to be a regulated activity for a number of years. We are delighted to receive our full FCA authorisation.”

Jaidev Janardana, Zopa’s CEO, said: “The authorisation process has been rigorous and in-depth and involved extensive scrutiny of our business. We will continue to focus on serving UK borrowers and investors through our market-leading products and best-in-class customer experience. In addition, we are also working towards applying for a banking license which will allow us to offer great customer choice whether you are spending, borrowing, saving or investing”.