Prosper Marketplace, a San Francisco, CA-based online marketplace for credit, raised $165m in Series D financing.
The round was led by Credit Suisse NEXT Investors, part of Credit Suisse Asset Management, with participation from J.P. Morgan Asset Management, SunTrust Banks, a subsidiary of USAA, BBVA Ventures, Neuberger Berman Private Equity Funds, Passport Capital, Breyer Capital, and others.
The company intends to use the funds for expansion and development of a national brand as it builds new products and services for the marketplace’s borrowers and investors.
Led by Aaron Vermut, chief executive officer, Prosper Marketplace owns an online marketplace for consumer credit connecting people who want to borrow money with people who want to invest money.
Over the past six years, more than $3 billion in personal loans have originated through its platform.