Prosper is America's first peer-to-peer lending marketplace, with more than 1,570,000 members and over $430,000,000 in funded loans.
Prosper allows people to invest in each other in a way that is financially and socially rewarding. On Prosper, borrowers list loan requests between $2,000 and $25,000 and individual lenders invest as little as $25 in each loan listing they select. In addition to credit scores, ratings, and histories, investors can consider borrowers’ personal loan descriptions, endorsements from friends, and community affiliations. Prosper handles the servicing of the loan on behalf of the matched borrowers and investors.
Prosper is run by President and CEO Dawn Lepore, former CEO and chairman of drugstore.com and vice chairman of The Charles Schwab Corporation, and was cofounded by Chris Larsen, cofounder of E-LOAN. Prosper has raised $80.9 million in venture capital and is backed by financial and technology luminaries including Accel Partners; Larry Cheng of Volition Capital; David Silverman of Crosslink Capital; Court Coursey of TommorrowVentures; Timothy Draper of Draper Fisher Jurvetson; Capital One Co-founder Nigel Morris of QED Investors; Eric Schwartz; CompuCredit; DAG Ventures; Meritech Capital; and Omidyar Network.
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