Prosper

  • 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

  • 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… Read More

  • 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… Read More

  • 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… Read More

  • 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… Read More

  • 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… Read More

  • $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… Read More

  • Prosper.com To Announce Milestones Tuesday

    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… Read More

  • Prosper Launches – Social Lending

    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… Read More

  • CircleOne Rumored to Launch Soon

    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, 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… Read More