Prosper Marketplace operates a peer-to-peer lending platform and offers a broad product mix including personal loans, a credit card, home equity products, and investment offerings. The company reported strong recent growth, facilitating over $1 billion of personal loan originations in the third quarter (more than 2x year‑over‑year growth). Prosper now has over 150,000 customers for its credit card product, which launched last December, and recently introduced a fixed‑rate home equity loan that complements its existing home equity line of credit. The business says it has helped 1.5 million people to date. Management intends to use new capital to accelerate investments across its products and expand its reach as a financial technology platform. The company frames itself as purpose‑driven and positioned to scale over the coming years. Prosper Marketplace operates an online consumer lending platform that connects borrowers seeking fixed-rate, fixed-term personal loans with individual and institutional investors. Borrowers use the platform for debt consolidation and large purchases, while investors access consumer credit investment opportunities under Prosper’s data-driven underwriting model. Prosper reported monthly loan originations have grown steadily since July 2016 and an estimated net return on January 2017 production of 7.86%. The company has originated over $8 billion in personal loans to date and is focused on diversifying its investor base by bringing new banks and institutional investors onto the platform. Management said the recent deal provides funding stability and capital markets expertise as Prosper aims to grow the marketplace and achieve profitability in 2017. Prosper is a leading US peer-to-peer lending marketplace connecting individual investors with borrowers. The company received a $13 million investment from Russian fund Target Ventures, as reported by Rusbase. The financing was Target Ventures' first U.S. investment and coincided with the fund opening a San Francisco office to manage its U.S. activities. To run those U.S. activities Target Ventures appointed Andrey Kazakov, a former general partner at Foresight Ventures. The article does not provide operating metrics or detailed use of proceeds for Prosper. The report frames the deal within Target Ventures' broader strategy of investing in digital consumer companies abroad. Prosper Marketplace operates an online marketplace for consumer credit that connects people who want to borrow money with people who want to invest. The platform offers a digital application experience intended to simplify unsecured personal loans and reduce wait times compared with traditional channels. Over the past six years more than $3 billion in personal loans have originated through the Prosper platform. The company reported a record quarter with nearly $600 million in loans originated, up 200% year-over-year. The new funding is intended to support continued growth, expansion and the development of a national brand as Prosper builds new products and services for borrowers and investors. Prosper is headquartered in San Francisco and is the parent company of Prosper Funding LLC. Prosper.com operates a U.S. peer-to-peer marketplace connecting individual borrowers and lenders for consumer credit. Launched in 2006, the company was halted by the SEC in 2008 and relaunched in 2009 after resolving registration issues. Under CEO Aaron Vermut and his team, Prosper has focused on product improvements and attracting new lenders and borrowers. Monthly platform originations grew from $9 million in January 2013 to over $100 million in April 2013, and Prosper crossed $1 billion in cumulative loans with plans to hit $2 billion this year. Loan originations grew over 400% year-over-year and were up 30% month-over-month; at the end of April Prosper had a 35% share of the online consumer peer-to-peer lending marketplace. The company says it will remain focused on the consumer credit market and has no plans for an IPO at this time.

Total raised

$2.4B

Funding rounds

11

Latest round

Equity

Latest activity

Nov 2022