Prosper secures $50m Series G from FinEX Asia

Marketplace lending platform Prosper has secured a $50m Series G investment from a fund co-managed by FinEX Asia.

San Francisco-based Prosper is a lending platform which helps connect lenders with borrowers by allowing anyone to invest into a loan. The platform lets borrowers list loan requests between $2,000 and $35,000, and an individual to invest as little as $25 to each loan listing.

Borrowers are able to access an affordable fixed-rate, fixed-term personal loan, will lenders can earn returns on investments. The company recently announced it had hit $775m in loan originations in one quarter, with total loans facilitated now reaching over $10bn.

This new line of equity will help the company make strategic investments into the platform and products.

Prosper Marketplace CEO David Kimball said, ?Over the past year, weve shown that we can build a sustainable business that continues to redefine the online lending experience for our borrowers and investors. We believe this partnership will open up additional opportunities for our business as we continue to grow.p>

This round brings total capital raised by the company to $410m, with the company picking up $165m round led by Credit Suisse Next Investors, in 2015.

Earlier this year Prosper secured a deal with a consortium of investors for up to $5bn worth of loans. The consortium will use its funds to back loans on the platform across the next 24 months.

Copyright ? 2017 FinTech Global

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