Prosper operates an online peer-to-peer lending marketplace that links borrowers seeking personal or small business loans with individual and institutional investors.
The platform manages loan listings, origination, servicing, and risk assessment, helping investors diversify portfolios while offering borrowers fast, transparent credit solutions.
What Is Prosper and What Does It Do?
Prosper, founded in 2005 by Chris Larsen and John Witchel, is a San Francisco–based alternative lending marketplace facilitating peer-to-peer loans for consumers and small businesses. Prosper employs 360 people.
The company manages loan origination, servicing, underwriting, investor relations, and credit operations, enabling diversified investment opportunities while expanding digital access to consumer credit.
How Much Funding Has Prosper Raised?
1. Conventional Debt (Nov 2022)
• Amount Raised: $75M
• Date: November 17, 2022
• Lead Investors: Neuberger Berman
• Motivation: Strengthening liquidity, supporting loan volume, and maintaining lending operations.
2. Earlier VC Rounds
• Amount Raised: Part of total $414M
• Date: 2005–2016
• Lead Investors: Sequoia Capital, QED Investors, Meritech
• Motivation: Platform development, scaling, underwriting technology, and regulatory readiness.
Total Funding Raised: $414 Million
Current Valuation: $550 Million (as of September 26, 2017)
Latest Funding Date: November 2022
Key Investors
1. Sequoia Capital
• Details: Premier venture capital firm backing category-leading technology and fintech companies.
• Investment Focus Areas: Consumer finance, fintech, enterprise tech.
2. QED Investors
• Details: Specialist fintech investment firm focused on lending and financial services innovation.
• Investment Focus Areas: Consumer finance, lending infrastructure, fintech.
3. Meritech
• Details: Growth-stage investor backing enterprise, SaaS, and fintech companies.
• Investment Focus Areas: Growth equity, enterprise tech, fintech.
• Notable Investments: Prosper.
Where Is Prosper’s Headquarters?
Prosper is headquartered in San Francisco, United States, offering proximity to top fintech investors, credit partners, and engineering talent within the Bay Area ecosystem.
What’s Next for Prosper?
Prosper is expected to strengthen its credit models, expand investor distribution channels, improve portfolio management tools, and enhance liquidity through capital markets partnerships and debt facilities. The company will likely focus on disciplined underwriting, improved borrower experience, and scaling loan origination volume through technology-led efficiency.
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