Search Results for: Prosper

Marketplace Lender Prosper Releases Quarterly Investor Update, Borrower Rates on Platform Higher than Pre-Pandemic Levels

Prosper, a peer-to-peer lending company that connects borrowers and investors with over $17B in loans issued via its platform, recently shared their Quarterly Investor Update – Q1 2021. Ashish Gupta, the Chief Credit Officer at Prosper Marketplace, writes in a blog post that the company… Read More

Marketplace Lender Prosper Reports 81% Originations Rated AA-B, Avg Loan Size was $13k, Avg Borrower Income $103k for Feb 2021

Prosper, a peer-to-peer lending company that connects borrowers and investors with over $17B in loans issued via its platform, recently shared their performance data from the Prosper Portfolio for the month of February 2021. Key highlights from the report are as follows: In February 2021,… Read More

Marketplace Lender Prosper has Provided $18 Billion in Loans, Platform Issued 2,258 Loans this Past Week

Prosper, a peer-to-peer lending company that connects borrowers and investors with over $17B in loans issued via its platform, has shared their performance data from the Prosper Portfolio for November 2020. Last month, around 84% of originations were “rated AA-B compared to 86% in the… Read More

Prosper Quarterly Report Provides Insight into Operations in a Coronavirus Economy

Late last week, Prosper Marketplace filed its first-quarter report on operations and the document provides some insight into how the marketplace lender is faring during an economic landscape impacted by the Coronavirus. Overall, Prosper has originated $17.1 billion since platform inception through March 31, 2020…. Read More

Blockchain Platform Ontology Joins Celo Alliance for Prosperity

Ontology (ONT), a “high-performance” public blockchain network that aims to provide a “distributed trust” platform, announced on Tuesday it has joined the Celo Foundation Alliance for Prosperity, which is a mission-aligned network of organizations fostering social impact and financial inclusion through the use of blockchain… Read More

Prosper Adds Cautionary Note on COVID-19 in Latest 10K

Prosper, a marketplace lending platform providing consumer credit as well as HELOCs, filed its most recent 10K late last month. At the time, the COVID-19 pandemic in the US was picking up pace. As is typical of these filings for all companies, Prosper included a… Read More

Marketplace Lending: Fitch Upgrades Prosper Notes

Fitch Ratings has upgraded the rates on several notes that are backed by loans from marketplace lending platform Prosper. According to Fitch, the ratings on the Class B and Class C Series 2018-1 (PMIT 2018-1) notes have improved due to the “growth in hard credit… Read More

Prosper Partners with BBVA on New HELOC Product

Prosper Marketplace, a leading marketplace lending platform, has launched a Home Equity Line of Credit (HELOC) product in partnership with BBVA. According to a blog post, the HELOC is currently available in Texas, Florida, Arizona and Alabama. Prosper said the two companies are bringing together… Read More

Prosper Unveils Second Quarter 2019 Financial Results

Leading marketplace lending platform Prosper announced on Tuesday the release of its Second Quarter 2019 Financial Results. Prosper reported that during the quarter personal loan originations increased 27% compared to the first quarter of 2019, and the online lender has now generated positive adjusted EBITDA… Read More

Prosper Announces 2019 First Quarter Financial Results

Leading marketplace lending platform Prosper announced on Monday the release of the financial results for the first quarter of 2019. Prosper reported that during the quarter it closed its second warehouse facility with $300 million in commitments, providing the company with $500 million in total… Read More

Marketplace Lending Platform Prosper Settles Fraud Charges Brought by SEC, Pays $3 Million Penalty

Leading marketplace lending platform Prosper has settled fraud charges for misstating returns, according to a release from the Securities and Exchange Commission (SEC).  Without admitting or denying the allegations, Prosper has consented to an SEC order finding it violated an anti-fraud provision of the Securities… Read More

Prosper Releases Full Year 2018 Financial Results

Prosper, a leading peer-to-peer lending platform connecting borrowers and investors, has released the financial results for the full year ended December 31, 2018. Financial highlights include: Total Net Revenue, which includes the non-cash impact related to warrants to purchase preferred stock, decreased to $104.4 million… Read More

Prosper to Add HELOC Product to Lending Platform

Online lender Prosper will be adding a new digital Home Equity Line of Credit (HELOC) product in 2019, according to a note from the company. The introduction of the HELOC is described as a new milestone for the marketplace lending platform. Prosper is one of… Read More

Prosper Releases 2018 Second Quarter Results

Online lender Prosper announced earlier this week the release of its 2018 second quarter results. According to Prosper, year-over-year loan originations increased 12% to $867 million, Net Loss decreased 70% to ($12.6) million and Adjusted EBITDA has also increased 31% to $8.8 million. Highlights of the… Read More

Milestone: Marketplace Lender Prosper Tops One Million Loans

Online lender Prosper announced a new milestone yesterday. The marketplace lending platform topped one million loans this past week representing over $13 billion in originations. The news, shared via a blog post, stated; “Since we launched in 2006 as the first peer-to-peer lending company in… Read More

Renew Financial Appoints Prosper Vet Kirk Inglis As New CEO

Renew Financial, the inventor of Property Assessed Clean Energy (PACE) financing and a leading provider of financing for home improvements, announced last it has appointed Kirk Inglis, currently Renew Financial’s CFO, as its new CEO. According to Renew, Inglis has more than 20 years of experience… Read More

Prosper Announces First Quarter of 2018 Results: Loan Originations Up 27% Year-over-Year & More Than $2 Billion of Co-Sponsored Securitizations Closed

Prosper, a peer-to-peer lending platform connecting borrowers and investors, reported earlier this week its financial results for the first quarter of 2018. The online lender revealed that loan originations increased 27% year-over-year to $744 million, driven by strong demand for the company’s personal loan product… Read More

Prosper Appoints Former Bank of America Executive Justine Metz As New Head of Marketing

Prosper Marketplace, a leading peer-to-peer lending platform connecting borrowers and investors, announced on Wednesday it has appointed Justine Metz as Executive Vice President of Marketing. According to the online lender, Metz has over 25 years of marketing experience and joins Prosper from SRS Acquiom, a… Read More

Prosper Appoints Former J.P. Morgan Chase CMO Claire Huang to Board of Directors

Peer-to-peer lending platform Prosper announced on Tuesday it has appointed former Chief Marketing Officer of J.P. Morgan, Claire Huang to its board of directors. According to Prosper, Huang has held senior leadership positions at various well-known financial services companies, which includes Bank of America, Fidelity Investments, and American Express. While… Read More

Prosper Releases Third Quarter 2017 Results: Loan Originations Up 164% Year-Over-Year

On Monday, leading peer-to-peer lending platform for consumer loans, Prosper, reported growth in both transaction revenue and loan originations for the third quarter of 2017. The online lender claimed that the continued demand for personal loan product resulted in $822 million in loan originations through its… Read More

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