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
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, 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
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
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
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
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
Pagaya Investments, a Fintech company in the asset management space, has received $75 million in debt financing from Citi. Simultaneously, Pagaya announced the creation of the “Opportunity Fund” to meet growing institutional interest in consumer credit as an asset class. Launched in2016, Pagaya has raied… Read More
There are several people in the online lending industry, inclusive of marketplace and balance sheet lending, that truly know just about everything going on in this evolving sector of finance. Ram Ahluwalia, CEO and co-founder of PeerIQ is one of these persons. His company… Read More
Last year, I boldly predicted 10 Fintech movements that will take place as Earth makes another perfect rotation around our Sun. It’s always fun to look back and see how wrong I was, so let’s stump the chump! Here are my original predictions. Let’s score… Read More
Ron Suber is one of the best known names in the marketplace lending world and a staunch champion of the future of online lending. For many years, Suber was President of Prosper – a leading platform that targets the consumer lending sector – mainly… Read More
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
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
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
Fitch has moved to upgrade ratings that impact assets originated on the Prosper marketplace lending platform. According to the rating agency, Fitch taken the following rating actions on two Citi Held for Asset Issuance trusts, which are backed by marketplace loans: CIiti Held for Asset Issuance… Read More
Ron Suber has become one of the most recognizable voices in the global Fintech arena. Since officially departing the Fintech he helped to create, the former President of Prosper Marketplace has become an elder statesman for online lending and financial innovation in general. An… Read More
Prosper announced on Thursday it has secured a $50 million Series G investment from an investment fund co-managed by FinEX Asia. The online lender revealed that the investment brings its total equity raised to $410 million to date and it will be used to make strategic investments in… Read More
RiverNorth is out with an encouraging note on its fund that invests in marketplace lending platform loans. As of the end of July 2017, RiverNorth’s portfolio consisted of 10,173 loans, with an average loan size of $10,176. The RiverNorth Marketplace Lending (NASDAQ:RMPLX) is designed to provide… Read More
Prosper Marketplace, a leading marketplace lending platform, has reported improved numbers for the second quarter. Prosper has shared that it generated positive operating cash flow for the quarter and originations rocketed up 74% year over year. Prosper said they experienced strong demand for its personal… Read More
Prosper Marketplace, one of the largest marketplace lending platforms in the US, is reportedly raising capital again at a significant decline to previous valuations. According to a report in the Information, Prosper is raising equity capital at a valuation of $550 million. This represents a… Read More
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