Prosper.com, a social lending marketplace that connects borrowers with individual and institutional investors, this morning announced that it has raised $17.2 million in funding from new investors Draper Fisher Jurvetson and Crosslink Capital.
Existing investors Accel Partners, CompuCredit, Omidyar Network, Eric Schmidt’s TomorrowVentures and Volition Capital also participated in the round.
Prosper also announced that Tim Draper, founder and managing director of DFJ, and Jerome Contro, general partner and COO of Crosslink Capital, will join the company’s board of directors.
According to its website, Prosper’s peer-to-peer lending marketplace currently boasts more than 1,080,000 members and over $236,000,000 in funded loans.
Prosper has raised close to $75 million to date. Its closest competitor, Lending Club, has secured $52.7 million in venture capital.
Prosper is a people-to-people lending marketplace that attempts to make consumer lending more financially and socially rewarding. Prosper allows people to invest in each other in a way that is financially and socially rewarding. On Prosper, borrowers list loan requests between $2,000 and $25,000 and individual lenders invest as little as $25 in each loan listing they select. In addition to criteria commonly used by institutional lenders, such as credit scores, people who lend can consider borrowers’ group affiliations. Groups...