Mon. Mar 27th, 2023

Prosper Raises $75M in Growth Capital

Prosper Marketplace, a San Francisco, CA-based provider of a lending platform, raised $75M in Growth capital.

A fund managed by Neuberger Berman provided the financial resources.

The company intends to use the funds to accelerate investments across all its products and expand its reach across the credit spectrum.

Led by CEO David Kimball, Prosper Marketplace offers peer-to-peer lending solutions including personal loans, credit cards, home equity products, and investment products.

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




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