Prosper.com, a peer-to-peer lending marketplace in the U.S., has raised $20 million in new funding led by Sequoia, with the company’s existing investors, including Draper Fisher Jurvetson and Crosslink Capital, Accel Partners, CompuCredit, Omidyar Network, Eric Schmidt’s TomorrowVentures and Volition Capital, all participating. This brings the company’s total funding to $95 million. Sequoia… → Read More
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. → Read More
Peer-to-peer lending network Lending Club this morning announced it passed $10 million in monthly loan fundings for May 2010. The company claims that the milestone marks the first time any U.S. peer lending company has funded that amount of loans in a single calendar month.
Main rival Prosper is closing in on $200 million in personal loans funded in total – last time it has broken out the monthly… → Read More
Prosper.com, a popular peer-to-peer lending marketplace in the U.S., has raised $14.7 million in Series D funding round from new investors TomorrowVentures and CompuCredit Holdings with existing investors Accel Partners; Benchmark Capital; DAG Ventures; Meritech Capital Partners; Omidyar Network; QED Investors; and Volition Capital participating in the round. This round of funding brings Prosper’s… → Read More
Prosper.com, a popular peer-to-peer lending marketplace in the U.S., has received a $1 million infusion from Nigel Morris, co-founder of Capital One, via his venture capital firm QED Investors. This brings the company’s total funding to over $41 million from Accel Partners, DAG Ventures, Fidelity Ventures and Benchmark Capital, among other investors.
Prosper pioneered the idea of concept of… → Read More
TechCrunch 50 startup Sprowtt has a radical, yet potentially compelling idea launching today—the startup lets ordinary startups and small businesses conduct a “Sprowtt IPO,” which is basically similar to the traditional IPO process.
Via Sprowtt, anyone can participate in the funding of companies. Potential investors log on to the site, set up a profile with detailed financial and bank account… → Read More
Good news for P2P lending and trading platform Prosper as it concludes its 9-month hiatus during which it was not allowed to continue its loan operations in the United States.
The Securities and Exchange Commission is now greenlighting Prosper to facilitate peer-to-peer lending in 14 states with more on the way, borrowing nearly nationwide. Prosper is now the first and thus only Internet… → Read More
The financial crisis has made a lasting impact on small businesses around the world and here at home in the United States. With the credit crunch creating a virtual standstill of lending, small businesses in the U.S. are facing an uphill battle to find funds, especially if their financial history isn’t stellar. Kiva.org, one of the web’s most interesting innovators in the micro-lending space, is… → Read More
Prosper, the people-to-people lending service that launched way back in May 2006, has found itself on a rocky road so far. Last October, Prosper suspended new lending in order to register with the Securities and Exchange Commission to create a secondary marketplace for the loans on its site (the SEC wanted to evaluate whether the company should register as a securities broker, as evidenced later… → Read More
P2P money lending service Lending Club has closed a $12 million Series B round with Morgenthaler Ventures as the lead and joined by existing investors Norwest Venture Partners and Canaan Partners. The total capital invested in the company is now $30 million. (It raised $12 million in angel and Series A funding in 2007, and then another $6 million in a Series A extension in September, 2008).
The… → Read More
Last month, peer-to-peer lender Prosper stopped all new lending on its site because of scrutiny by the SEC. Prosper agreed to register under the Securities Act, a process which can take months.
Yesterday, the SEC issued its formal cease-and-desist letter (embedded below or download PDF), outlining its reasoning for characterizing Prosper as a seller of investment, something prosper had… → Read More
Prosper and other peer-to-peer lenders like Zopa and Lending Club may turn out to be collateral damage from the credit crisis. Yesterday, Prosper suspended new lending in order to register with the S.E.C to create a secondary marketplace for the loans on its site. As recently as Monday, Prosper didn’t think it would have to register as a seller of securities. But the new climate of heightened… → Read More
If you are having trouble paying for college, maybe you can hit up your social network for a loan. That’s the idea behind GreenNote, another peer-to-peer lending startup that is launching this week. (The site is still going through load testing, but should be up fully by Wednesday). Prosper, Zopa, and Lending Club (which is under regulatory scrutiny) already offer general P2P loans, but… → Read More
Despite sub-prime loan worries rocking the economy, peer-to-peer loans are gaining some traction. You’d think loans between individuals would be much riskier than loans from a bank, but it turns out that individuals can be more risk averse than banks when it comes to lending out money. If you look at Prosper, the leader in P2P lending with more than $100 million in loans out so far, only 7… → Read More
U.K.-based peer to peer lending startup Zopa is gearing up for their U.S. launch. Reports of the launch have been circulating for some time (WSJ), but now it seems only days away. The service will be available at us.zopa.com, but is currently under password protection. Zopa’s peer to peer lending service differs from U.S. rivals by working with credit unions to offer person-to-person loans… → Read More
One of the most disruptive startups in the financial industry is Prosper, a peer-to-peer lending marketplace. Since its launch in February, 2006, Prosper has attracted more than 450,000 members who have loaned $96.4 million to each other. There is so much liquidity on Prosper now that the startup wants to create a secondary market for loans on the site. Right now, if you loan money to someone on… → Read More
Peer to peer lending service Lending Club will close a $10.26 million series A round of financing from Norwest Venture Partners and Canaan Partners tomorrow. This comes a few months after the company’s $2 million angel round. Coinciding with the investment, Jeff Crowe and Dan Ciporin (former ceo of shopping.com) are joining Lending Club’s board of directors. Similar to other P2P… → Read More
Peer to peer lending startup, Prosper, is expanding operations to Japan and other Asian countries as a shared partnership with Tokyo-based SBI Holdings, Inc. SBI will be helping prosper navigate Asia’s regulatory environment. SBI Group has a market capitalization in excess of $8 billion and consists of 65 consolidated subsidiaries and 12 affiliated companies, including 9 public companies. → Read More
P2P lending site Prosper is doing well enough to swallow another $20 million in venture capital, the company is announcing today. The company has now raised $40 million in capital. The round was led by DAG Ventures and Meritech Capital Partners. Existing investors Accel Partners, Benchmark Capital, Fidelity Ventures and Omidyar Network also participated. Prosper allows members to request loans of… → Read More
On Tuesday Prosper.com, a person-to-person lending site that launched in February, will announce a couple of fairly significant milestones: 100,000 members and $20 million in funded loans. They reached both milestones faster than UK-based competitor Zopa, which was recently named a Busines 2.0 “Disruptor.” Prosper allows members to request loans of up to $25,000 (the average funded… → Read More
San Francisco-based Prosper launched today (Prosper was called Circleone during its stealth stage). Like London-based (and Benchmark funded) Zopa, Prosper is a marketplace for borrowers and lenders. Individual borrowers say how much they need to borrow (up to $25,000) and the maximum interest rate they will pay. Interested lenders say how much they want to lend, and at what rate. Prosper takes the… → Read More
Update: February 5, 2006: CircleOne is now called Prosper. Rumors are flying that a super-stealth BenchMark backed company called CircleOne (also known as p2pcredit) will be launching as soon as this weekend. The domain name, http://www.circleone.com, is not yet live. If the rumors are correct, the company will be similar to Zopa, a London based company that we profiled in August. Zopa syndicates small… → Read More
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