Zopa: The eBay of Person to Person Lending

One of my Junto friends sent me a link about Zopa, a new UK-based company backed by Benchmark Capital (a top tier VC fund--check out the Benchmark Portfolio). Zopa apparently allows individuals to lend money to other individuals with good credit ratings--from 2,000 pounds to 15,000 pounds. Zopa takes a 1% transaction fee. There are insurance provisions and a spreading of risk among 50 borrowers so the lenders money should be safe.