The average time taken for ZOPA LIMITED to pay invoices has increased from 23 days in the first period to 28 days in the most recent period. This suggests that the company is taking longer to pay invoices to suppliers.
The percentage of invoices paid within 30 days has fluctuated between 70-78% over the three periods, with the lowest being in the most recent period. This suggests that the company's ability to pay invoices within 30 days is inconsistent.
Overall, ZOPA LIMITED has shown a trend of taking longer to pay invoices to suppliers, with the average time increasing by 5 days over the three periods. The company's ability to pay invoices within 30 days has also decreased from 78% to 70%, indicating a potential strain on cash flow.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 28 | 70% | 22% | 8% | 42% |
| 01 Jul 2019 - 31 Dec 2019 | 31 Jan 2020 | 24 | 71% | 25% | 4% | 32% |
| 01 Jan 2019 - 30 Jun 2019 | 30 Jul 2019 | 23 | 78% | 19% | 3% | 32% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard payment terms is 30 days
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
60
Suppliers are encouraged to contact Zopa's Accounts Payable team by email or phone in the first instance
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Zopa Limited is a UK-based financial technology company that offers peer-to-peer lending and investment services. Founded in 2005, it is one of the first peer-to-peer lending companies in the world.
The company's sustainability program focuses on promoting responsible lending and investing practices, as well as reducing its environmental impact. Zopa has implemented measures such as paperless processes, energy-efficient offices, and carbon offsetting to achieve its sustainability goals.
Zopa's main product is its peer-to-peer lending platform, where individuals can lend money to other individuals or businesses. This allows borrowers to access loans at competitive rates while providing lenders with attractive returns. Zopa also offers investment products such as the Innovative Finance ISA, which allows individuals to earn tax-free returns on their investments.
The key people at Zopa Limited include Jaidev Janardana, CEO, and Giles Andrews, co-founder and chairman. They are supported by a team of experienced professionals in the finance and technology industries.
Zopa Limited can be contacted through their website, www.zopa.com, or by phone at 020 7580 6060. Their registered office address is at 1st Floor Cottons Centre, Tooley Street, London, SE1 2QG, United Kingdom.
In summary, Zopa Limited is a pioneering financial technology company that offers peer-to-peer lending and investment services. With a strong focus on sustainability, the company aims to provide responsible and environmentally-friendly financial solutions to its customers. Its experienced leadership team and innovative products make Zopa a leading player in the peer-to-peer lending industry.