Tagged: aaron vermut

Prosper President Ron Suber: “Change is the Only Constant. Victory Goes to the Ones Who Change”

Ron Suber 2

In the world of alternative finance, one US industry was probably happy to see 2016 end. Online lending, both marketplace lenders (née P2P lending) and balance sheet platforms, hit the proverbial brick wall during last year. Rumblings of a more challenging environment picked up in… Read More

Prosper Names David Kimball New Chief Executive Officer

David Kimball

On Monday, online lender Prosper Marketplace announced its board of directors has named former CFO David Kimball as the new CEO after Aaron Vermut stepped down from the position. Vermut notably served as the CEO of Prosper since March 2014, and the platform reported that he would… Read More

Prosper Puts Limitations on New Borrowers, Blogs about Transparency’s Importance

Aaron Vermut

Online lender Prosper Marketplace has put its relationships with the loan referral websites LendingTree and Credit Karma on hold, according to The Wall Street Journal, signifying the platform’s own lending slowdown as it tries to shore up new deals with investors to buy loans. Earlier this week, LendingClub raised… Read More

Orchard: There are Two Sides to the Marketplace Lending Slowdown

David Snitkof Deep Dive Consumer Lending

    The first quarter of 2016 saw the US economy slip into a bit of a funk. Lingering questions regarding the sustainability of the economic recovery were buffeted by geopolitical tensions. The marketplace lending industry was in no way immune to the shifting winds… Read More

Finally, Marketplace Lending Leaders Form Industry Association to Support Sector Growth

Marketplace Lending 2

As had been rumored for quite some time, marketplace lending leaders Lending Club (NYSE:LC), Prosper and Funding Circle, have announced the creation of an industry association to represent their interests and advocate on behalf of sector growth.  Formed as a not for profit membership organization,… Read More

Prosper Penetrates Further into Home Improvement with HomeAdvisor Partnership

Door Construction Home Improvement

Prosper Marketplace and HomeAdvisor have signed a multi-year agreement for Prosper to be the exclusive partner to provide home improvement finance via the HomeAdvisor website. HomeAdvisor, based in Golden, Colorado, is an operating business of IAC (NASDAQ: IAC) and is said to have connected more than 35… Read More

Prosper Releases Mobile App Prosper Daily as it Migrates Bill Guard Users to New Platform

Prosper Daily App

Marketplace lending platform Prosper has moved quickly to leverage their recent acquisition of Israel-based BillGuard. Prosper has unveiled the “Prosper Daily” mobile App designed to give consumers a suite of tools to make better financial decisions, including viewing all their financial accounts in one place,… Read More

David Kimball is Prosper’s New CFO

David Kimball

Prosper Marketplace has appointed David Kimball as its Chief Financial Officer. Kimball was previously Senior Financial Officer of USAA’s Chief Operating Office in San Antonio, Texas. Before his tour at USAA, Kimball spent many years at the Ford Motor Company working in Finance. Most recently… Read More

Aaron Vermut Looks to Bring Israeli DNA from BillGuard into Prosper’s Culture

BillGuard

Leading marketplace lending platform Prosper acquired an Israeli startup towards the end of 2015 called BillGuard.  BillGuard’s service allows consumers to track their spending across many accounts, budget effectively, and protect their money from wrongful charges while monitoring a user’s credit score. It may also… Read More

Lendix Takes the Lead in France’s SME Crowdlending

Olivier Goy and Patrick Nonneville1

Lendix, one of the 60 companies who joined the fray of crowdlending platforms in 2015 has quickly taken the leadership position by designing a marketplace that meets the needs of institutional investors. Marketplace lending to small and medium size enterprise (SMEs) is taking off in… Read More

Will Marketplace Lenders Feel the Squeeze as Interest Rates Rise?

Janet Yellen

As most Fed followers expected, the FOMC decided to increase interest rates nudging up rates by 25 basis points. The last time the Fed raised rates was almost 10 years ago. The back and forth chatter regarding when the Fed would act has been a… Read More

Seen and Heard at #LenditEurope

Samir Desai

A random collection of people met and statements heard at the LendIt Europe conference, day 1, October 20th, 2015. Samir Desai, Cofounder and Director, Funding Circle: “We’re a marketplace, we don’t hold inventory, we don’t take any balance sheet risk, yet our interest is truly… Read More

Prosper Expands Reach with Acquisition of BillGuard, a Personal Finance Management Startup

BillGuard

Direct lending platform Prosper Marketplace is broadening the services of its platform by entering the personal financial sector. The San Francisco-based marketplace lending platform has signed a definitive agreement to acquire Israeli startup Billguard.  The acquisition is being called “transformative’ for the company that, to date,… Read More

Dick Bove is Right About Dodd-Frank but Wrong About Marketplace Lending

Dodd Frank

Dick Bove, an equity research analyst and frequent commentator on CNBC, has published an Op-Ed on CNBC about the legislative disaster called Dodd-Frank.  Bove does not mince words when he states,  “I thought it would be impossible to find a worse piece of legislation in… Read More

Individuals in Indiana May Now Invest on Prosper

Indiana State Seal

Direct lender Prosper is now open to investors in the state of Indiana. This makes 32 states and the District of Columbia where individuals may lend money directly on the platform.  Aaron Vermut, CEO of Prosper said;   “We are very pleased to bring the… Read More

Prosper Has Record Quarter. Tops $4 Billion in Loans

Prosper Loan Executive Mangement

In 2014 Prosper, a leading direct lender, originated over $1.6 billion in loans – a 350% increase from year prior. This week the marketplace lending platform said it had topped $4 billion in total loans as it registered another “record quarter” as it delivered $912… Read More

Peer to Peer Lending: Taking The Fear Out Of “Shadow Banking”

The Truth About Shadow Banking

For years now, big bank lenders have warned the public about the dangers of dealing with “shadow” (i.e. non-bank) lending institutions. The term itself conjures up images of shady back-room deals where you’re handed money in a paper bag and told to pay it back… Read More

Here Comes the Sun: Sunlight (Not Shadow) Banking Heralds the Future

Marketplace Lending Brings Sunlight to Banking

  Sunlight is said to be the best of disinfectants…” Former US Supreme Court Judge Louis Brandeis The old guard is trying to define marketplace lending as part of a murky “shadow banking” industry.  Banking analyst Richard Bove concluded in a recent Rafferty Capital Markets… Read More

Prosper Raises $165 Million. Sets $1.9 Billion Valuation

Prosper Loans

Prosper Marketplace has closed a $165 million funding round led by Credit Suisse Group’s Next Investors.  The valuation was set at approximately $1.9 billion – a significant increase to previous valuations. Additional investors included JP Morgan Chase & Co’s Asset Management unit, SunTrust Banks, USAA,… Read More

Prosper Partners with Over 160 Banks. Signs Exclusive Agreement with Western Independent Banks

Aaron Vermut

Prosper Marketplace, a leading peer to peer or marketplace lender, has signed an exclusive agreement with Western Independent Bankers (WIB) representing a new outlet for loans via their 1260 plus member banks. These community banks represent a significant extension of Prosper into the 13 western… Read More

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