Prosper

  • Why your wallet is becoming the next platform Crunch Network

    Why your wallet is becoming the next platform

    As digital wallets increasingly become the origination point for consumer spending, they will become THE platform for downstream financial services — creating an opportunity for startups and a problem for established players. Read More

  • Making sense of the lending industry’s rapid changes Crunch Network

    Making sense of the lending industry’s rapid changes

    Lending, one of the biggest industries, is currently undergoing a transformation. As it was with the automobile industry transformation, a number of modern innovators will probably face serious difficulties, some will merge with competitors and some will just disappear. Read More

  • Prosper Marketplace relaunches its BillGuard app under the Prosper brand

    Prosper Marketplace relaunches its BillGuard app under the Prosper brand

    Prosper Marketplace, the marketplace lender focused on refinancing and credit rehabilitation, has re-launched its BillGuard app (acquired last September) under its own brand as Prosper Daily. With the rebranding, the former BillGuard becomes Prosper’s first mobile app and is the company’s first beachhead into what chief executive Aaron Vermut hopes will be a broader suite of… Read More

  • What Lending Club’s falling share price means for the P2P lending sector Crunch Network

    What Lending Club’s falling share price means for the P2P lending sector

    Lending Club, the largest P2P lending platform in the U.S., has seen its share price drop by more than 50 percent since December 10; the price per share on the NASDAQ Stock Market dropped from $14 to less than $7 (current price per share will vary). So what is the reason for such a precipitous decline in the share price of the world’s leading P2P lender, and what does it tell us about… Read More

  • Our 2016 Predictions For The IPO Market

    2015 was not a good year for IPOs — it was actually the worst year for tech IPOs since the financial crisis in 2009. More and more startups are opting to remain private for longer periods of time. And while we still haven’t seen any IPOs in 2016, the slowest start since 2009, eventually venture-backed companies need to go public — if only to raise additional financing to… Read More

  • Peer To Peer Lending Marketplace Prosper Raises $70M

    Peer To Peer Lending Marketplace Prosper Raises $70M

    Prosper.com, a peer-to-peer lending marketplace in the U.S., has raised $70 million led by Francisco Partners, a private equity firm with Institutional Venture Partners (IVP) and Phenomen Ventures participating. This brings the companies funding to $145 million. Previous backers include Sequoia Capital, Draper Fisher Jurvetson and Crosslink Capital, Accel Partners, CompuCredit, Omidyar… Read More

  • Lending Marketplace Prosper Locks Down $25M From Sequoia, BlackRock

    Lending Marketplace Prosper Locks Down $25M From Sequoia, BlackRock

    Prosper, a peer-to-peer lending platform, announced today that it has raised an additional $25 million. The round was led by Sequoia, a longtime investor in the company, with participation from BlackRock. The $25 million raise might feel oddly timed, as Prosper raised $20 million this January, a month that also saw it shake up its leadership team, including the installation of a new chief… Read More

  • Peer-To-Peer Lending Marketplace Prosper Raises $20M From Sequoia, Eric Schmidt And Others; Brings On New CEO

    Peer-To-Peer Lending Marketplace Prosper Raises $20M From Sequoia, Eric Schmidt And Others; Brings On New CEO

    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… Read More

  • Social Lending Marketplace Prosper Raises $17.2M From Eric Schmidt, DFJ, Others

    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

  • Lending Club Surpasses $10M In Monthly Loan Fundings, Makes Key Hire

    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… Read More

  • Prosper Raises $14.7 Million For Peer To Peer Lending Market; Eric Schmidt Invests

    Prosper Raises $14.7 Million For Peer To Peer Lending Market; Eric Schmidt Invests

    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… Read More

  • Old Line Banker Puts $1 Million Into P2P Lender Prosper

    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… Read More

  • TC50: Everyday Investors Can Help Startups "IPO" On The Sprowtt Marketplace

    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… Read More

  • SEC Greenlights Prosper; P2P Lending Resumes In 14 States, More Coming

    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

  • Kiva Brings Microlending Home To U.S. Entrepreneurs In Need

    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… Read More

  • P2P Lending Marketplace Prosper Gets Off The Bench, Debuts Open Market Initiative

    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… Read More

  • 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… Read More

  • 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 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… Read More

  • 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… Read More