RIP Zopa & P2P lending?

[d000hg]

I'd missed the advance warning of this but was reminded today:

After 16 years of peer-to-peer (P2P) investments at Zopa, we have taken the decision to close our retail investing business.

This has been a tough decision, and not one we have taken lightly.

We deliberated several options for how to close the P2P side of our business in a way that delivers the best outcome for our customers. After careful consideration, we have decided that the best way forward is the sale of all retail investor portfolios at full value. This will lock in the interest earned by Investors so far and ensure the timely return of their money.

https://www.zopa.com/blog/article/an...on-p2p-at-zopa

Must admit this caught me rather off-guard, unless I've drastically mis-read they are basically closing the core of their business. I haven't seen if their competitors are doing likewise?
It strikes me as rather a shame, I've always been pretty pro-Zopa and have achieved reasonable returns from my investment (about £20k).

Others here must be customers - is this a KUATB moment?

[ladymuck]

This was being discussed on the radio a week or so ago. Essentially the disruptors to the lending market realised it wasn't a viable business.

[AtW]

I knew it won't end well since they used word for company name that means ass in Russian...

[xoggoth]

I knew it won't end well since they used word for company name that means ass in Russian...

I that the donkey, the idiot or the rude version?

[AtW]

I that the donkey, the idiot or the rude version?

[xoggoth]

Ah, my favourite version.

[GregRickshaw]

I'd missed the advance warning of this but was reminded today:


https://www.zopa.com/blog/article/an...on-p2p-at-zopa

Must admit this caught me rather off-guard, unless I've drastically mis-read they are basically closing the core of their business. I haven't seen if their competitors are doing likewise?
It strikes me as rather a shame, I've always been pretty pro-Zopa and have achieved reasonable returns from my investment (about £20k).

Others here must be customers - is this a KUATB moment?

Sad times, I used RateSetter for about 7 years and got a very good return, was gutted when they gave up.

Any recommendations on alternatives?

[MarillionFan]

Yes bloody annoying them doing that. I've now got £250000 sitting in Zopa and got to find somewhere to bloody put it. Where the hell am I going to find an ISA which isn't less than inflation?!?!?!

[AtW]

Yes bloody annoying them doing that. I've now got £250000 sitting in Zopa and got to find somewhere to bloody put it. Where the hell am I going to find an ISA which isn't less than inflation?!?!?!

Have you considered investing in a Musk's expidition to Uranus?

[TwoWolves]

The massive disconnect between interest rates and inflation for over ten years, now going to eleven on the dial. All inflation-busting investment schemes are now imploding - here it comes.