Prosper

Another Silicon Valley company is settling with the SEC: the online lending company Prosper, which the SEC had accused of “miscalculating and materially overstating annualized net returns to retail and…

Prosper is the latest Silicon Valley company to get dinged by, and settle charges with, the SEC

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Understanding Renaud Laplanche’s next Upgraded act

Renaud Laplanche spent ten years building LendingClub. In the process, he created an industry from scratch. Circumventing conventional banking channels for consumer credit began in 1996 when Chris Larsen started E-LOAN, which ultimately led to Prosper Marketplace. But LendingClub, which Laplanche founded in 2007, was and remains the poster child for the business of marketplace…

9:45 am PDT • September 22, 2018
Understanding Renaud Laplanche’s next Upgraded act

Earnest, a well-funded fintech startup with bold ambitions to create a modern financial institution, is selling to the student-loan company Navient for $155 million in cash. The WSJ was first…

Online lender Earnest sells to Navient, in a disappointing deal for investors

Instacart CMO Cheryl Law is no longer at the company, TechCrunch has learned. Instacart confirmed the departure. We were tipped off about her departure a bit before the whole Amazon…

Instacart CMO Cheryl Law is no longer at the company

Marketplace lending may not be prospering now but a resurgence could be on deck.

CrunchBase Spotlight: Data hints at down rounds, but not wipeout, for marketplace lending

In defense of online lending

3:30 am PDT • June 2, 2016

The marketplace industry will be just fine. It is uncertainty – rather than a fundamental flaw in the business model – that is the root cause of the sector’s present…

In defense of online lending

The meteoric rise of e-lending platforms attracted a lot of interest among investors and entrepreneurs. Lending Club and OnDeck have already become public companies, and their competitors, such as Funding…

The mercurial nature of P2P lending

A year ago, privately held online lenders like Prosper, SoFi and Avant looked all but certain to go public at the same unicorn valuations their venture investors had assigned them — if not…

For online lenders, it’s suddenly touch-and-go

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…

Why your wallet is becoming the next platform

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…

Making sense of the lending industry’s rapid changes

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 Marketplace relaunches its BillGuard app under the Prosper brand

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…

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

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…

Peer To Peer Lending Marketplace Prosper Raises $70M

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…

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

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,…

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

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…

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…

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;…

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 received a $1 million infusion from Nigel Morris, co-founder of Capital One, via his venture capital firm QED Investors. This…

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…

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 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…

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…

Lending Club Gets A $12 Million Credibility Boost

7:08 am PDT • March 19, 2009

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…

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…

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…

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…

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…

Zopa To Launch In U.S.

10:53 am PST • November 30, 2007

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…

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…