The peer-to-peer lender reported this total while also claiming that it now lends around £80m per month, more than it did in its first five years.

Despite the major growth since its launch 12 years ago, Zopa has remained true to its principles .

With its track record and area of expertise in consumer lending in the UK, the peer-to-peer lender believes that this gives it an advantage in making better decisions on who to lend to and under what conditions.

Zopa spreads all its customers’ investments across multiple loans, starting in £10 chunks, meaning that no one borrower has more than 1% of a lender’s overall investment.

The maximum amount that Zopa lends to any individual is £25,000 (not including fees).

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In June 2017, Zopa reported that it lent £83.4m which was spread across 11,964 borrowers.

“We recognise how important trust is,” said Andrew Lawson, chief product officer at Zopa (pictured above).

“Key to building trust with our investors is being transparent about where their money is being lent.

“That’s why we’ve always shown individual investors which loans they own, and how they are performing, in their individual loan books.

“We also share the whole platform performance by publishing our entire loan book, and share up to date lending and performance data with the P2PFA on a quarterly basis.

“These principles remain core to lending at Zopa, and we remain committed to them.”