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Company Specialist
Gregory Dietrick West Shore Advisors, Inc.
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Prosper
Prosper is a person-to-person lending marketplace. Prosper generates revenue by collecting a one-time 2% to 3% fee on funded loans from borrowers, and assessing a 1% per annum loan servicing fee to lenders. People who register as Prosper lenders set the minimum interest rate they are willing to earn and bid in increments of $50 to $25,000 on loan listings they select. In addition to criteria commonly used by institutional lenders, such as credit scores and histories, Prosper lenders can consider borrowers’ personal stories, endorsements… more
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Company Overview
Prosper is a person-to-person lending marketplace. Prosper generates revenue by collecting a one-time 2% to 3% fee on funded loans from borrowers, and assessing a 1% per annum loan servicing fee to lenders.
People who register as Prosper lenders set the minimum interest rate they are willing to earn and bid in increments of $50 to $25,000 on loan listings they select. In addition to criteria commonly used by institutional lenders, such as credit scores and histories, Prosper lenders can consider borrowers’ personal stories, endorsements from friends, and group affiliations.
Borrowers create loan listings for up to $25,000 and set the maximum rate they are willing to pay a lender. Then the auction begins as Prosper lenders can bid down the interest rate. Once the auction ends, Prosper takes the bids with the lowest rates and combines them into one simple loan to the borrower. Prosper handles all on-going loan administration tasks including loan repayment and collections on behalf of the matched borrower and lenders.
Prosper has reportedly received $39.5 million in funding from Accel Partners, Fidelity Ventures, Benchmark Capital, and Omidyar Network.
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CEO:
Chris Larsen
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HQ:
San Francisco, CA
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Capital Raised:
$39.54M
Financings
- Series: C
- Type: Later Stage - 3rd
- Date: June-2007
- Total Investment: $20,000,000.00
- Investors:
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- Accel Partners
- Benchmark Capital
- Duff Ackerman & Goodrich
- Fidelity Ventures
- Meritech Capital Partners
- Omidyar Network
- Funds:
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- Fidelity Ventures IV LP
- Series: B
- Type: Second Round
- Date: February-2006
- Stock: Preferred
- Total Investment: $12,000,000.00
- Investors:
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- Accel Partners
- Benchmark Capital
- Fidelity Ventures
- Omidyar Network
- Funds:
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- Fidelity Ventures IV LP
- Omidyar Network
- Series: A
- Type: First Round
- Date: April-2005
- Stock: Preferred
- Total Investment: $7,540,000.00
- Investors:
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- Accel Partners
- Benchmark Capital
Round 9
Round 8
Round 7
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News
Documents
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