Online exchange Zopa puts Bite on lifestyle account

Zopa, the site that enables people to lend and borrow money without using a bank, has appointed Bite Communications to a £160,000 UK PR brief.

Founded a year ago by staff who set up online bank Egg, Zopa has been described in reports as ‘the eBay for money' and says it is the first such online exchange. Its digital community allows customers to make transactions at a lower rate than banks.

Bite replaces Financial Dynamics. James Alexander, co-founder and COO of Zopa, and formerly strategy director at Egg, said: ‘With FD, we needed to gain acceptance with financial press, making us a credible place to lend and to buy. Now we are creating a new category and need a different type of PR.'

Bite's campaign will cover media relations with lifestyle, personal finance journalists and key influencers in a bid to attract new lenders and borrowers to Zopa's 72,000-strong customer base.

Bite is Zopa's third PR agency since the company was founded in March 2005: Sputnik handled comms around the start-up's launch.

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