Sadly, over the last few years, customer trust in P2P investing was damaged by a small number of businesses whose approach led to material losses for customers investing in those platforms. Linked to this, the changing regulation in the sector made it challenging to grow our P2P business while remaining commercially viable. We therefore decided to fully focus on Zopa Bank.

We deliberated over a number of options for how to close the P2P side of our business and we believe the sale of your portfolio in full to Zopa was the best outcome for our customers. This locked in the returns you’d already earned and ensured all your funds were available to withdraw from your holding account on 14 January 2022.

We want to say a massive thank you to all of you joined us on this journey and we hope you’ll continue as a Zopa customer into the future.