About Us  > Blog

Prosper Marketplace Closes $14.7 Million Series D Round

by Prosper on 04/16/10

Fund raise includes new investors TomorrowVentures and CompuCredit along with all existing Prosper investors

Prosper.com, the world’s largest peer-to-peer lending marketplace with nearly one million members and over 32,000 funded loans totaling over $194 million, today announced that it has raised $14.7 million in a Series D round from new investors TomorrowVentures, LLC and CompuCredit Holdings Corporation and all of Prosper’s existing investors: Accel Partners, Benchmark Capital, DAG Ventures, Meritech Capital Partners, Omidyar Network, QED Investors, and Volition Capital (formerly Fidelity Ventures). Including this latest round of financing, Prosper has raised a total of $57.7 million to date.

Prosper also announced that Court Coursey, Managing Partner at TomorrowVentures, will join the company’s Board of Directors. Prosper’s other Board members include, Jim Breyer of Accel Partners; Larry Cheng of Volition Capital; Bob Kagle of Benchmark Capital; and Capital One Co-founder Nigel Morris of QED Investors.

“We were attracted to Prosper because it offers a game-changing solution and is poised to capitalize on the consumer lending market in a substantial manner,” said Court Coursey, Managing Partner at TomorrowVentures. “Prosper is the leader in the space and positioned to be at the forefront of revolutionizing fundamental aspects of the financial services industry for many years to come.”

Prosper, America’s first peer-to-peer lending marketplace, maintains approximately two-thirds of the U.S. peer-to-peer lending market and, according to Deutsche Bank Research, Prosper is the largest peer-to-peer lending marketplace worldwide. Gartner Research has forecasted that the peer-to-peer lending industry will “soar at least 66 percent to $5 billion of outstanding loans by 2013.” Prosper crossed the $1 billion milestone in consumer loan demand in March 2008 and has now surpassed $1.8 billion in demand.

“We are greatly appreciative of the tremendous support and commitment shown by our early backers, and honored by the caliber and strategic depth of our new investors,” said Chris Larsen, Chief Executive Officer and Co-founder of Prosper. “This latest round of financing strengthens our leadership position and our charge toward continuing to pave the way for bringing the benefits of a third way of banking – peer-to-peer lending – into the mainstream.”

Larsen continued, “The reset button has been hit for consumers who are frustrated with credit companies and a dearth of financing options, and for investors who want to play an active role in reshaping the financial services industry as we’ve known it. Prosper is committed to giving people more power and freedom over the status quo and we’re motivated by what this change-up means for the future of financial services in America and around the globe.”


Leave a Comment

Prosper moderates all comments and will approve those that are directly relevant to the post. We do not publish comments that are spam, are offensive or appear to pass you off as another person.

(required)
(required) Email will not be published.
 

Comment Policy

 

*
To prove you're a person (not a spam script), type the security word shown in the picture. Click on the picture to hear an audio file of the word.
Click to hear an audio file of the anti-spam word

3 Responses


Mike Massey | April 20th, 2010 at 11:36 am

Wonderful! Now prove to me you are going to improve collection efforts and I am back.

Trackbacks


posted in Borrowers,Featured,Lenders,Prosper News 3 comments »

Connect with us

Search

Lenders

Improving the Investor Experience at Prosper

By Prosper on 04/3/15   [ 0 ]

By Eric Thaller, VP, Investor Services One of Prosper’s key priorities for 2015 is improving the experience for our retail investors. This group of investors has always been an important part of Prosper’s DNA, and we are committed to making changes this year that improve the products they use. This includes increasing the number of fractional [...]

Read More

Prosper Platform Surpasses $3 Billion in Loans, Closing Out Record First Quarter

By Prosper on 03/31/15   [ 0 ]

By: Aaron Vermut Today we are very excited to announce we have officially surpassed $3 billion in personal loans issued through the Prosper platform since inception. In April 2014, we announced that we crossed the $1 billion mark. It took us eight years to reach that milestone and it was huge achievement for our company. [...]

Read More

Karate Academy Improves Student Training with New Equipment

By Prosper on 03/4/15   [ 0 ]

Posted by Bill Walker Note: This post is based on a video submitted to our $2 Billion Strong Contest. To see more videos, visit our Facebook page. Kevin Johannes, a seventh degree black belt and owner of TASK Karate Academy, borrows through Prosper Loans because it offers him the best interest rates. But, that’s not [...]

Read More

« Older Entries

Monthly Archive


Notice: Blogs and other materials posted on or linked from this page that use the name "Prosper" generally use that name to refer to Prosper Marketplace, Inc. if published before January 31, 2013 and to refer to Prosper Funding LLC if published on or after February 1, 2013.