Prosper

 
  • Lending Club Gets A $12 Million Credibility Boost

    Lending Club Gets A $12 Million Credibility Boost

    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

  • SEC Outlines Its Reasoning For Shutting Down P2P Lender Prosper

    SEC Outlines Its Reasoning For Shutting Down P2P Lender Prosper

    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 P2P Lenders Get Squeezed By The Credit Crunch

    Prosper And Other P2P Lenders Get Squeezed By The Credit Crunch

    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

  • GreenNote Offers More Peer-to-Peer Loans To Tackle the College Funding Gap

    GreenNote Offers More Peer-to-Peer Loans To Tackle the College Funding Gap

    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

  • P2P Loans GainingTraction.  Lending Club Goes Nationwide

    P2P Loans GainingTraction. Lending Club Goes Nationwide

    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

  • Zopa To Launch In U.S.

    Zopa To Launch In U.S.

    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

  • Prosper Registers With SEC to Create a $500 Million Secondary Market in Peer-to-Peer Loans

    Prosper Registers With SEC to Create a $500 Million Secondary Market in Peer-to-Peer Loans

    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

  • LendingClub To Close $10.26 Million Series A

    LendingClub To Close $10.26 Million Series A

    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

  • Prosper's P2P Lending Spreads To Asia

    Prosper's P2P Lending Spreads To Asia

    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

  • $20 Million For Prosper: P2P Lending

    $20 Million For Prosper: P2P Lending

    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