August 14, 2017 @ 1:49 pm By JD Alois  |  

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

August 7, 2017 @ 11:58 am By JD Alois  |  

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

August 1, 2017 @ 12:17 pm By JD Alois  |  

Ron Suber, President Emeritus of Prosper and high-profile Fintech ambassador and investor, has signed up as the Executive Vice Chairman of Credible. Suber will also become a member of Credible’s Board of Directors. Credible is a multi-lender marketplace that allows borrowers to receive competitive loan… Read More

July 31, 2017 @ 10:07 am By Samantha Hurst  |  

On Friday, marketplace lending platform Prosper announced it was officially discontinuing its Prosper Finance Daily app on Monday (August 31st). The online lender revealed to help its users through the transition, it has teamed up with personal finance app Clarity Money to offer some of… Read More

July 21, 2017 @ 10:15 am By JD Alois  |  

Ron Suber, perhaps the most prominent global Fintech Ambassador and President Emeritus of Prosper Marketplace, is on an extended swing across Asia visiting various platforms and presenting at events. Visiting with CNBC Asia this week, Suber explained how important transparency is for online lending and… Read More

June 29, 2017 @ 7:40 pm By JD Alois  |  

Ron Suber, an iconic voice in the emerging Fintech sector and the most prominent leader in the marketplace lending industry, has announced his departure from Prosper Marketplace. First reported in a note published on LendAcademy, after five years of leadership at Prosper,  Suber has determined… Read More

June 16, 2017 @ 10:27 am By JD Alois  |  

A report from Bloomberg this week takes certain online lending platforms to task regarding the fact that some online lenders are not verifying income status.  The report also says that even if there are errors in loan applications the loan may still be approved. More… Read More

May 17, 2017 @ 3:47 pm By JD Alois  |  

Kroll Bond Rating Agency (KRBA) has assigned preliminary ratings to three classes of notes issued by Prosper for $450.5 million that is expected to close on May 24, 2017. This will be the sixth securitization which is collateralized by unsecured consumer loans which have been… Read More

May 5, 2017 @ 7:48 am By JD Alois  |  

Prosper Marketplace, one of the largest online lending platforms in the US, has apparently been overstating annual investment returns on loans due to an error in their systems. Bloomberg reported yesterday that investors were being notified of the error and that the issue has been… Read More

April 3, 2017 @ 8:45 am By JD Alois  |  

Global Debt Registry (GDR), a loan validation platform for institutional investors, has added leading online lending platform, Prosper Marketplace to its verification network. GDR says the partnership will enable Prosper investors access to their due diligence tools to ensure loan data integrity. Prosper successfully piloted… Read More

March 30, 2017 @ 2:00 pm By Therese Torris  |  

Ron Suber, the President of the US marketplace lender Prosper, was interviewed today by Cédric Teissier, the CEO of the French factoring platform Finexkap, at the annual conference of the  France Fintech association, titled “Fintech Revolution 2017 – Here to Stay”. Cédric Teissier asked Ron… Read More

March 22, 2017 @ 2:29 pm By JD Alois  |  

Acts of fraud have been around since the dawning of time. How fraud occurs is a never-ending, shape-shifting challenge for individuals, companies and public authorities. There will always be a new scam. There will always be another Ponzi or Madoff looking to separate hard-earned money… Read More

March 20, 2017 @ 4:17 pm By JD Alois  |  

Fitch Ratings has taken the following rating actions on Citi Held for Asset Issuance 2016-PM1 (CHAI 2016-PM1), which is backed by marketplace loans originated via the Prosper platform: Class A upgraded to ‘Asf’ from ‘A-sf’; Outlook Stable; Class B upgraded to ‘BBBsf’ from ‘BBB-sf’; Outlook… Read More

March 10, 2017 @ 12:17 pm By JD Alois  |  

LendItUSA, the annual event that jumps between New York City and San Francisco everu 12 months, opened up to larger audiences and an industry sector that endured a challenging year. The online lending sector received a two-punch assault in 2016; a battle that left the… Read More

March 6, 2017 @ 4:54 pm By JD Alois  |  

Ron Suber, the President of Prosper and a perennial keynote speaker at the annual LendIt conference, delivered a rousing update on the status of marketplace lending.  Directly addressing the challenges that impacted all online lenders in the past year, Suber stated; “Success this past year required… Read More

February 27, 2017 @ 2:41 pm By JD Alois  |  

Prosper Marketplace, one of the leading online lenders in the US, has signed an agreement with a group of institutional investors to purchase up to $5 billion in loans over the next 24 months. The agreement alleviates a challenging situation that has been endured by… Read More

February 1, 2017 @ 12:09 pm By JD Alois  |  

Formerly with USAA and CIT Group, Ashraf Will Manage Capital Markets and Finance Functions at Prosper Marketplace Prosper Marketplace has appointed Usama Ashraf as its new Chief Financial Officer. Ashraf will be overseeing the online lenders capital markets function, as well as all of the… Read More

January 26, 2017 @ 12:21 pm By JD Alois  |  

LendingRobot has officially launched their next big vertical: a Robo-Hedge Fund for alternative lending. Crowdfund Insider initially wrote about the forthcoming Robo-fund when we uncovered an SEC filing for a pooled investment vehicle last November. While the filing became public at that moment, the “LendingRobot… Read More

January 18, 2017 @ 8:21 am By Samantha Hurst  |  

Solar loan provider Mosaic announced on Wednesday it has appointed Amir Friedman as Vice President of Bank Partnerships. The lender revealed that in this newly created role, Friedman is set to oversee its whole loan sale program with banks, insurance companies, credit unions, and other financial institutions. Friedman… Read More

January 4, 2017 @ 7:01 pm By JD Alois  |  

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