15th March 2017
P2P, Peer to Peer Lending
TOP peer-to-peer lending (P2P) platform Zopa has announced that no new money transfers will be accepted after a record month of lending in February.
The platform, which lent more than £81m last month, having approved nearly 12,000 borrowers has now created a waiting list to help deal with such large demand.
Zopa has now said that it will not be accepting new money transfers in order to prioritise existing customers and stop lending queue times from increasing. 
The news comes just after the lender received the award for the Top Consumer Lending Platform at the LendIt awards on March 7.
Chief product officer, Andrew Lawson, said: “As we continue to grow, it is extremely important for us to prioritise our existing customers. Too often, financial services providers offer new customers their best deals, at Zopa, we don’t think that’s right.”