What does Prosper do?
Prosper, is a peer-to peer lending marketplace, which allows people to invest in each other in social and financially beneficial method. It is America’s first lending marketplace with more than 2.2 M members and over $2,000,000,000 funded loans.
This startup allows people to invest in each other in a socially and financially rewarding way. On this lending marketplace, borrowers list loan requests between $2k to $35K and the individual lenders invest as little as $25 in each loan listing selected. Apart from histories, credit scores and ratings, investors can consider the personal loan descriptions of the borrowers, endorsements from friends and community affiliations. Prosper handles loan servicing on behalf of the matched investors and borrowers.
How much Prosper was funded?
Prosper, raised $165 M in Series D funding on April 8th, 2015 by Credit Suisse, SunTrust Bank, BBVA Ventures, Neuberger Berman Group, Passport Capital and Breyer Capital
- $1M in Venture round on November 1st, 2009 from QED Investors
- $2M in Venture round on February 3, 2010 from QED Investors, Meritech Capital Partners, Omidyar Network, Benchmark, DAG Ventures and Accel Partners
- $14.7M in Series D on April 16th, 2010 from Eric Schmidt and TomorrowVentures
- $17.2M in Series E on June 7, 2011 from Crosslink Capital and Draper Fisher Jurvetson (DFJ)
- $20M in Venture round on January 22nd, 2013 from Crosslink Capital, CompuCredit, Draper Fisher Jurvetson (DFJ), Accel Partners, TomorrowVentures and Omidyar Network
- $25M in Private Equity on September 24, 2013 from BlackRock and Sequoia Capital
- $70M in Private Equity on May 4, 2014 from Institutional Venture Partners (IVP), Phenomen Ventures and Francisco Partners
What is next for Prosper?
Prosper will use the fund to support the company’s continuous growth, development and expansion of a national brand which will build new services and products for Prosper’s investors and borrowers.
More about Prosper
Prosper was founded in February 1st, 2006 by Chris Larsen and John Witchel and has its headquarters in San Francisco, CA. The startup offers people a superior way to borrow money at fair rates.