Prosper Marketplace, Inc., a San Francisco, CA-based peer-to-peer lending company, raised $25m in funding.
Led by Stephan Vermut, CEO, Prosper Marketplace is the parent company of Prosper Funding LLC, which owns a peer-to-peer financing platform to invest and borrow money. On Prosper.com, borrowers list loan requests between $2k and $35k for a variety of purposes including paying down high interest rate debt and helping with small business funding, while retail and institutional lenders invest as little as $25 in each loan listing they select. Institutional investors can also elect to participate in the Whole Loan Program.
Over the past six years, more than $600 million in personal loans have originated through the platform.