Prosper Member Base Tops One Million

SAN FRANCISCO--(BUSINESS WIRE)--Prosper.com, the world’s largest peer-to-peer lending marketplace with over $205 million in loans, today announced that it has surpassed the one million member milestone.

“It’s pretty incredible that one million people – a population greater than our headquarter City of San Francisco – have engaged with Prosper”

“It’s pretty incredible that one million people – a population greater than our headquarter City of San Francisco – have engaged with Prosper,” said Chris Larsen, CEO and Co-founder of Prosper. “In 2006, when we first introduced peer-to-peer lending in the U.S., the concept was completely foreign to most Americans. Some had been exposed to the idea of microfinance in developing countries, but the notion of an Amazon or eBay for money was entirely brand new. Today, peer-to-peer lending has grown into more than an ‘alternative way to get a loan’ or an ‘alternative investment class.’ Peer-to-peer lending represents the future of consumer lending; and the tipping point into the mainstream is within reach.”

To learn more about peer-to-peer lending and investing online at Prosper, click here. To learn more about obtaining a personal loan through Prosper, click here. To stay on top of Prosper news and events and to interact with other peer-to-peer lending users, follow Prosper on Twitter; “Like” Prosper on Facebook; and visit the Prosper Blog.

About Prosper

Prosper Marketplace Inc. is the world's largest peer-to-peer lending marketplace with over 1,000,000 members and $205,000,000 in funded loans.

Prosper allows people to invest in each other in a way that is financially and socially rewarding. On Prosper, people list and bid on loans using an online auction platform. Borrowers list loan requests between $1,000 and $25,000 and set the maximum rate they are willing to pay. Individual and institutional investors bid in minimum increments of $25 on loan listings they select. In addition to credit scores, ratings and histories, investors can consider borrowers' personal loan descriptions, endorsements from friends, and community affiliations. Once the auction ends, Prosper handles the funding and servicing of the loan on behalf of the matched borrowers and investors.

Prosper was co-founded by Chris Larsen, co-founder of E-LOAN. Prosper has raised $57.7 million in venture capital and is backed by financial and technology luminaries including, Jim Breyer of Accel Partners; Bob Kagle of Benchmark Capital; CompuCredit; Omidyar Network; Capital One Co-founder Nigel Morris of QED Investors; Court Coursey of TomorrowVentures; and Larry Cheng of Volition Capital.

Notes offered by Prospectus.