Prosper Funding

Prosper Funding

Offers personal loans and credit cards

About

Prosper Funding offers a variety of financial solutions aimed at improving financial wellbeing for individuals. The company provides personal loans, credit cards, and home equity lines of credit, making its services accessible to a wide range of customers, regardless of their credit history. Personal loans are issued by WebBank, while the Prosper® Card is an unsecured credit card issued by Coastal Community Bank under a Mastercard license. Prosper distinguishes itself from competitors by focusing on affordability and ensuring fair access to financial services as an equal housing lender. The goal of Prosper Funding is to empower individuals with the financial tools they need to achieve their financial goals.

Company Stage

Debt Financing

Employees

501-1,000

Industries

Fintech, Financial Services

Total Funding

$160.4M

Headquarters

San Francisco, California

Founded

2005


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Simplify's Take

What believers are saying

  • Prosper won the 2024 CSO Award for excellence in security and risk management.
  • The company exceeded its crowdfunding target by 130%, raising significant capital.
  • Acquisition by Waverly Advisors may enhance Prosper's resources and capabilities.

What critics are saying

  • Increased competition from new fintech startups could challenge Prosper's market share.
  • The acquisition by Waverly Advisors may lead to strategic shifts disrupting operations.
  • Reliance on crowdfunding may expose Prosper to financial instability if interest wanes.

What makes Prosper Funding unique

  • Prosper is the first peer-to-peer lending platform in the United States.
  • The company offers a data-driven underwriting model for personal loans.
  • Prosper provides a range of financial products, including personal loans and credit cards.

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Growth & Insights
Headcount

6 month growth

6%

1 year growth

6%

2 year growth

6%

Benefits

Health Insurance

Unlimited Paid Time Off

Parental Leave

Mental Health Support

Wellness Program

Childcare Support

Pet Insurance

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