When the Federal Reserve next meets on March 21, many are speculating that there will be a rate hike. In addition, many indicators are pointing to the US finally entering a rising rate environment after years of record low rates. In light of this, it’s timely to provide Prosper’s investors with an update on our approach for portfolio pricing in a rising rate environment.
Today we are sharing performance data from the Prosper portfolio for January 2018. Credit tightening continues in the riskier grades, shifting the portfolio to an increased concentration of lower risk assets: 54.3% of assets were rated AA-B in January vs. 49.5% in 2017 Q4 and 41.8% in 2017.
Three years ago, we introduced the #MyProsperStory as a way to get to know our community, and better understand how Prosper can positively impact financial wellness. This year the response from the Prosper community was overwhelming!
Today Prosper reported growth in both transaction revenue and loan originations for the third quarter of 2017. Continued demand for Prosper’s personal loan product resulted in $822 million in loan originations through its platform, up 6% quarter-over-quarter and 164% year-over-year. The company also grew transaction fee revenue 5% quarter-over-quarter and 164% year-over-year.
The #MyProsperStory Photo Contest is back! Once again, we’re inviting you to show us what it looks like to be “on top of your finances” for a chance to win a full loan payoff, up to $35,000.
Today Prosper announced a $50 million investment from an investment fund co-managed by FinEX Asia. The Series G investment, which brings Prosper’s total equity raised to $410 million to date, will be used to make strategic investments in the company’s platform and products. “This investment is a strong signal of confidence in our business fundamentals […]