P2P lending platform Prosper nets $75m


Prosper Marketplace, a peer-to-peer lending platform in the US, has closed a new $75m financing round from Neuberger Berman.

According to Prosper, the new capital will enable the firm to meet strong consumer demand for its personal loan, credit card, home equity and investment products, as well as accelerating growth opportunities for the company over the coming years.

The new financing comes at a time of strong year-over-year growth for Prosper. In the third quarter, Prosper facilitated over $1 billion of personal loan originations (over 2x year-over-year growth) through its platform.

The company now has over 150,000 customers for its credit card product that launched last December and recently launched a new fixed-rate home equity loan product that complements its existing home equity line of credit product.

Prosper Marketplace CEO David Kimball said, “This is one of the most exciting times in Prosper’s history. This additional capital will enable us to accelerate investments across all our products and expand our reach as a financial technology platform that transforms the lives of people across the credit spectrum.”

Neuberger Berman managing director Zhengyuan Lu added, ‘We have been thoroughly impressed by Prosper’s approach to managing its business and are thrilled to partner with the company in its mission to advance financial wellbeing.”

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