Btcpop was funded in December 2014 by Lee Bartholomew with the slogan “P2P Bitcoin Lending Done Right”. The website was very simple at first and aimed to do Bitcoin lending better than industry leaders at the time Btcjam.com and BitcoinlendingClub.com.

While the website was nothing special, the idea of a free market, and the ability for users to completely customize their loan offerings brought over some high quality Bitcoin lenders from the other platforms. These original high quality users and their loans brought more people to the platform, along with the popular insurance feature for defaulted loans.