Zopa backs up the truck with $12.9M in Financing

Lending is the name of the game and Zopa is trying to lead the pack.

Zopa is a marketplace where members can meet up and lend or borrow money from eachother for a small fee. $12.9M has been infused into the company to help it expand and try to dominate the market. The competition is stiff, Prosper already has a strong hold on the “community lending” market.

The company said it appointed a new chief executive, Douglas H. Dolton, formerly CEO of Chela Education Financing.

The financing was led by Bessemer Venture Partners, an existing investor. Benchmark Capital and Wellington Partners also invested in the latest round. Benchmark has also backed competitor Prosper.

Zopa is well on their way, they have already raised about $34 million.

Originally posted on Wednesday, March 21st, 2007
Venture Capitalism, Valuation, Marketing, Social Media.