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PROSPER HITS ANOTHER RECORD: $100 MILLION IN APRIL ORIGINATIONS

by Prosper on 05/1/14

Just one month after announcing that we crossed $1 billion dollars in loans, I’m happy to report that we’ve hit another significant milestone. In April, a record $100 million in loans was originated through the platform. This is up 400% from one year ago and 30% month-over-month. More importantly, it is indicative of the incredible momentum we’re seeing for peer-to-peer lending as more people turn to Prosper to fund large purchases, start a small business or refinance high-interest debt.

Along with this rapid growth, Prosper has continued to invest in customer service. It is our intention to offer borrowers and lenders the absolute best customer service. To accomplish that goal, we have been hiring the right team members, streamlining operations and improving our technology infrastructure to continually deliver a faster and more transparent borrowing and investing experience. I look forward to sharing a number of enhancements to member communications, mobile functionality and member benefits along with profiles of several new members of the Prosper team in the coming months.

In April, Prosper also welcomed Macy Lee to the Executive team as the Chief Financial Officer. Macy has a proven track record of helping businesses grow from early stage to established industry leaders. Most recently, she was CFO of eBay Australia, the country’s largest eCommerce site. In that role, she was responsible for Controllership, FP&A, Strategy, Business Analytics, and Facilities, and was instrumental in defining and executing its business strategy. Prior to her position as CFO, Macy spent nearly 11 years in various finance and business roles at PayPal and eBay, as well as Oracle, Target, and Sichuan Provincial Economic & Trade Commission in China.

As we head towards early May, we are busy gearing up for the second annual LendIt 2014 conference, being held May 4-6th in San Francisco. Once again, Prosper is a leading sponsor and President Ron Suber will deliver the first day’s closing remarks, with a presentation titled: From Disruption to Revolution: The Tipping Point of Online Direct Consumer Lending. We will post a video of his speech following the conference. For more info on the conference you can visit www.lendit.co.

As always, thanks to everyone for their involvement on our platform – the amazing growth we have seen in the last 15 months would not have been possible without you. Please keep the feedback coming, and check back for more good news in the near future.

Aaron Vermut
CEO

 


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3 Responses


Pbchi | June 3rd, 2014 at 12:47 pm

I wonder where all the loans for smaller investors are then? today june3, there were only 5 new loans visible on listings. Can we have enough transparency to know whether or not we have equal access to comparable quality notes as institutions and larger investors? Thanks


ProsperLoans | June 4th, 2014 at 10:51 am

Hello,

We have been posting a ton of great loan inventory to the platform. We currently have over 300 listings for you to choose from on the website. Equal Quality of the Notes across the platforms is assured by randomization. Our randomization methods have been audited by third-party firms to ensure equitable access. View our current listings here: pspr.co/iO


Barnaby Dorfman | June 6th, 2014 at 9:58 am

Congrats on the growth! I’ve been investing for many years and am wondering if you plan to revamp or eliminate the borrower profile pages and other more personal elements of the system, which no longer seem to get used? I enjoyed reading people’s backstory/context, but there never seemed to be a correlation between that and repayment. Still, I’ve always wondered if some sort of social context could create more accountability & lower losses. Thoughts?


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

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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.