Zopa, a London, UK-based peer-to-peer lending company, closed a £15m (approximately $25m) funding round.
European focused alternative asset manager Arrowgrass Capital Partners made the investment. In conjunction with the funding, Henry Kenner, CEO of Arrowgrass, has joined Zopa’s board as a non-executive director.
The company intends to use the funds to increase its marketing efforts.
Founded in 2005 by Giles Andrews, CEO, Zopa is a peer-to-peer finance company that enables savers to receive better rates by lending money to people looking for low-cost loans.
Customers have lent over £455m through the platform.
The company has also been backed by Augmentum Capital and Bessemer Venture Partners.