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Tuesday 20th March 2007
Zopa readies for US invasion 6:29PM, Tuesday 20th March 2007
Zopa, the UK online social lending site, has secured additional funding, to the tune of $12.9 million, and appointed a new global CEO.

The two items are related because the UK site is preparing to launch in the US where it will look to draw on the experience of Douglas Dolton in the US savings and lending industries. As well funding as growth in the UK, the investment is intended to boost the US venture.

'We are very happy to lead on this third round of funding,' said
 
 
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a spokesperson for Bessemer Venture Partners. 'Zopa is an extremely innovative and exciting business with a spectacular future ahead of it - quite a rarity in the personal finance sector and much more akin to other consumer Internet businesses we have invested in like Skype. Zopa now has two excellent years under its belt in the UK and is growing momentum, demonstrating that the model works very well. We are delighted now to be helping Zopa move into the American market.'

According to Zopa, which was two years old on 7 March, it has recruited more than 135,000 members. We marked the anniversary with an interview with founder and UK CEO James Alexander.

Zopa (Zone of possible agreement) is a website that lets borrowers and lenders choose the rates they will accept and then matches the two together. A kind of eBay for money.

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