SAN FRANCISCO--(BUSINESS WIRE)--Prosper Marketplace, the first peer-to-peer lending platform in the United States, announced the closing of a new $75 million financing from a fund managed by Neuberger Berman. This capital enables Prosper to meet strong consumer demand for its personal loan, credit card, home equity, and investment products, and accelerates 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.
“This is one of the most exciting times in Prosper’s history,” said David Kimball, CEO of Prosper Marketplace. “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.”
“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," said Zhengyuan Lu, Managing Director at Neuberger Berman.
To learn more about Prosper Marketplace, visit Prosper.com.
About Prosper Marketplace
Prosper offers affordable and personalized financial solutions that empower customers as they move across the credit spectrum. A purpose-driven pioneer of peer-to-peer lending, Prosper has helped 1.5 million people, and counting, achieve financial well-being.
With the right strategy, passionate employees, and broad product mix, Prosper is poised to scale – and to be there for its customers and investors for decades to come.
We can Prosper together.
This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release, including statements as to future results of operations, plans and events, and future growth opportunities are forward-looking statements. Forward-looking statements inherently involve many risks and uncertainties that could cause actual results to differ materially from those projected, expressed or implied in these statements. Many, but not all, of these statements can be identified by terms such as “expect,” “plan,” “anticipate,” “project,” “may,” “believe,” or “estimate” and similar expressions or the negative versions of these words or comparable words, as well as future or conditional verbs such as “will,” “should,” “would,” “likely” and “could.” Prosper has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. These risks and uncertainties include those risks described in Prosper's filings with the Securities and Exchange Commission, including Prosper’s most recent annual report on Form 10-K and most recent quarterly report on Form 10-Q. Forward-looking statements inherently involve many risks and uncertainties that could cause actual results to differ materially from those projected in these statements.