Total amount raised
$503.5 Millions
Latest funding date
Location
Prosper Marketplace has successfully raised significant funding through multiple rounds, attracting a diverse group of 36 investors, including Neuberger Berman and Eight Roads Ventures. The platform connects borrowers with individual and institutional investors, offering personal loans, home equity products, and investment opportunities.
Keep reading to explore the intricacies of Prosper Marketplace's fundraising journey and the investors backing this innovative platform.
What Is Prosper Marketplace?
Prosper Marketplace, founded in 2005 by Chris Larsen and John Witchel, is headquartered in San Francisco, California. The company operates as an online lending platform, connecting borrowers with individual and institutional investors. Prosper offers a range of financial products, including personal loans, home equity lines of credit, and investment opportunities.
With a workforce of 251-500 employees, Prosper has facilitated over $28 billion in loans to more than 2 million people. The platform is designed to provide low, fixed-rate loans with no hidden fees or prepayment penalties, making it a popular choice for those seeking financial solutions.
Prosper's mission is to help people achieve their financial goals through a transparent and efficient lending process. The company also offers educational resources to help users make informed financial decisions, further solidifying its role as a leader in the online lending industry.
How Much Funding Has Prosper Marketplace Raised?
- Round Name: Series A
- Amount Raised: $20M
- Date: January 2013
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the platform's reach.
- Round Name: Series B
- Amount Raised: $25M
- Date: September 2013
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and support growth initiatives.
- Round Name: Series C
- Amount Raised: $70M
- Date: May 2014
- Lead Investors: Francisco Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market presence.
- Round Name: Series D
- Amount Raised: $165M
- Date: April 2015
- Lead Investors: Credit Suisse
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and product development.
- Round Name: Secondary Market
- Amount Raised: $13M
- Date: June 2015
- Lead Investors: Target Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Round Name: Secondary Market
- Amount Raised: $1.6M
- Date: March 2016
- Lead Investors: SharesPost Investment Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To offer liquidity options for stakeholders.
- Round Name: Series G
- Amount Raised: $50M
- Date: September 2017
- Lead Investors: Assured Asset Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product lines and enhance technology infrastructure.
- Round Name: Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2018
- Lead Investors: Eight Roads Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives.
- Round Name: Debt Financing
- Amount Raised: $75M
- Date: November 2022
- Lead Investors: Neuberger Berman
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate investments across all products and expand reach.
Total Amount Raised: $419.6M
Current Valuation: Not publicly disclosed
Key Investors
- Neuberger Berman
- Details: Neuberger Berman is a private, independent, employee-owned investment management firm. It manages a range of investment strategies, including equity, fixed income, private equity, and hedge funds.
- Investment Focus Areas: Equities, fixed income, private equity, hedge funds.
- Notable Investments: Not publicly disclosed.
- Eight Roads Ventures
- Details: Eight Roads Ventures is a global venture capital firm that backs entrepreneurs with aspirations for greatness. The firm has a strong presence in technology, healthcare, and consumer sectors.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Not publicly disclosed.
- Assured Asset Management
- Details: Assured Asset Management is an investment firm that focuses on providing capital to high-growth companies. The firm is known for its strategic investments in various sectors.
- Investment Focus Areas: High-growth companies, strategic investments.
- Notable Investments: Not publicly disclosed.
- SharesPost Investment Management
- Details: SharesPost Investment Management specializes in providing liquidity solutions for private company shareholders. The firm focuses on secondary market transactions.
- Investment Focus Areas: Liquidity solutions, secondary market transactions.
- Notable Investments: Not publicly disclosed.
- Target Global
- Details: Target Global is an international investment firm headquartered in Berlin, with over €1 billion in assets under management. The firm invests in fast-growing tech companies across various stages.
- Investment Focus Areas: Technology, fast-growing companies, various stages.
- Notable Investments: Not publicly disclosed.
What's Next for Prosper Marketplace?
Prosper Marketplace stands at the cusp of significant growth opportunities. With $75 million in new funding, the company is poised to accelerate investments across its diverse product lines, including personal loans, credit cards, and home equity loans. The platform's recent performance, such as over $1 billion in personal loan originations in the third quarter, underscores the vast potential for expansion.
Future fundraising opportunities appear promising, given the strong consumer demand and the company's robust growth trajectory. Prosper may continue to attract investment to support its ambitious plans, potentially exploring strategic acquisitions to enhance its market reach. However, the company must navigate challenges such as market competition, regulatory changes, and economic fluctuations that could impact consumer borrowing behaviors.
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