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P2P Lender Prosper Nets $25 Million in Capital

Philip RyanbyPhilip Ryan
September 25, 2013
in Banking, Payments
Reading Time: 1 min read
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Prosper Marketplace Inc. announced yesterday that it has raised an additional $25 million in funding, bringing its total to about $120 million since it was founded in 2006.

This latest round of funding was led by Sequoia Capital, a longtime investor in Prosper, as well as BlackRock Inc, the world’s largest asset manager. A number of other investors made up the rest of the total.

Prosper loaned $32 million in August 2013 and has originated a total of $630 million of P2P loans over the company’s lifetime. The company was launched by E-loans founder Chris Larsen, who is no longer at Prosper.

Loans can run as small as $25 and go up to five figures. Investors that put up capital for the loans can expect a 9% return on their investment, according to Prosper.

Tags: Capital & FundingfundingP2PProsper
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