'Social' borrowing and lending site expands to US

Online lending and borrowing exchange Zopa today announced it had raised US $12.9 (€9.7m) to fund a US launch and to expand its UK operations.

The group, which launched two years ago as an online “social” marketplace where individuals can lend and borrow money on an unsecured basis, is set to open for business in America by the end of the year.