Prosper.com, a social lending marketplace that conncets creditworthy borrowers with individual and institutional investors, has raised over $17m in funding.
Investors include new backers Draper Fisher Jurvetson and Crosslink Capital, which join existing shareholders Accel Partners, CompuCredit, Omidyar Network, TomorrowVentures, and Volition Capital.
This round brings the total amount rasied by the company to date to $74.85m.
In conjunction with the funding, Tim Draper, founder and managing director of Draper Fisher Jurvetson, and Jerome Contro, general partner and COO of Crosslink Capital, will join Prosper’s Board of Directors.
Led by CEO and co-founder Chris Larsen, the company operates a peer-to-peer lending marketplace with over one million members and more than $236m in funded loans. Prosper.com allows borrowers to list loan requests between $2,000 and $25,000 with duration terms of 1, 3, or 5 years. Individual and institutional investors can invest in minimum increments of $25 on loan listings they select considering credit scores, ratings and histories, borrowers’ personal loan descriptions, endorsements from friends, and community affiliations.
Leading loan categories on the marketplace Prosper.com are debt consolidation, home improvement and small business-related loans.
Victory Park Securities acted as financial advisor to Prosper in conjunction with the transaction.
Related news: 16/04/2010: Prosper.com Raises $14.7M in Series D Financing