Assetz Capital has encouraged ex-Zopa investors to move to its platform, which is now “by far the largest active retail peer-to-peer lender in the UK.”
Chief executive Stuart Law said it is “sad” to see Zopa leave the P2P market, but pointed out that its departure means that Assetz is now the largest retail P2P lender in the country.
Law added that the platform expects to continue to deliver attractive returns and plans to scale up its operations “significantly” over the coming year.
“While it is sad to see another of our peers exit the market, and the original P2P lender at that, we are confident that we can fill this gap and meet investor demand for attractive returns while making a tangible difference to the UK’s housing market and small- and medium-sized enterprise (SME) business funding needs,” said Law.
“Assetz Capital has continued to attract new investors and deliver strong returns throughout the pandemic, demonstrating the strength and reliability of our approach which we believe we will remain an important part of the retail investor toolkit throughout the post-pandemic recovery and beyond.”
Last week, Zopa announced its intention to close its P2P lending business in January 2022, 16 years after introducing P2P lending to the world. It will instead focus on its banking business and initial public offering, which is expected to take place some time next year.