Prosper, a U.S peer-to-peer lending marketplace, announced that venture capital firm QED Investors has invested in the company.
In conjunction with the investment, Nigel W. Morris, managing partner of QED Investors, has joined its Board of Directors.
Mr Morris, who co-founded Capital One in 1994, currently works in an advisory capacity with General Atlantic Partners, Columbia Capital, and Oliver Wyman. He also serves on the board of The Economist Group, London Business School, and Venture Philanthropy Partners.
Prosper, a peer-to-peer lending marketplace with over 870,000 and $184m in loans, allows people to invest in each other. Prosper’s auction model provides a way to get a personal loan or invest in loans.
Using Prosper’s online auction platform, people and institutions list and bid on between $1,000 and $25,000 loans.