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About Prosper Funding
Industries
Fintech
Financial Services
Company Size
201-500
Company Stage
Debt Financing
Total Funding
$503.4M
Headquarters
San Francisco, California
Founded
2005
Overview
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 being an equal housing lender, which promotes fair access to financial services. The main goal of Prosper Funding is to help individuals achieve better financial health through affordable lending options.
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Simplify's Take
What believers are saying
- Integration of AI-driven credit scoring can reduce loan defaults and improve approvals.
- Prosper's 2024 CSO Award highlights its excellence in security and risk management.
- The rise of embedded finance offers new revenue streams and customer engagement opportunities.
What critics are saying
- Increased competition from new fintech startups could threaten Prosper's market share.
- Brand confusion with another fintech named Prosper in the UK may impact identity.
- The rise of DeFi platforms challenges traditional lending models like Prosper's.
What makes Prosper Funding unique
- Prosper offers a comprehensive financial platform with personal loans, credit cards, and home equity.
- The company has a 20-year history, pioneering peer-to-peer lending in the U.S.
- Prosper's data-driven underwriting model provides low, fixed-rate loans with no hidden fees.
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Funding
Total Funding
$503.4M
Above
Industry Average
Funded Over
11 Rounds
Benchmark
AccelBenefits
Health Insurance
Unlimited Paid Time Off
Parental Leave
Mental Health Support
Wellness Program
Childcare Support
Pet Insurance
Growth & Insights and Company News
6 month growth
↑ 4%1 year growth
↑ 5%2 year growth
↑ 5%SAN FRANCISCO, April 23, 2025 /PRNewswire/ -- Prosper Marketplace, a fintech pioneer providing affordable financial solutions to consumers across the credit spectrum, proudly celebrates its 20th anniversary. In 2005, the Prosper platform revolutionized how Americans could advance their financial well-being through online lending opportunities and by investing in each other's goals. Since its founding, Prosper has helped more than 2 million customers access nearly $30 billion in total funding, while expanding its suite of products. "Prosper was established 20 years ago by Chris Larsen and John Witchel as part of their quest to democratize consumer lending and create opportunities previously unavailable through traditional banking channels," said David Kimball, CEO of Prosper. "As consumers' needs have grown, we have grown alongside them. Today, we've evolved into a comprehensive financial platform, offering simple, trusted, and affordable solutions that help people transform their lives."
London-based AI fintech startup Prosper has raised £4 million in a round led by Fuel Ventures, with participation from Capital One, World First, Tandem, Azimo, Embark and Comply Advantage, the founders of Monzo, and Ukrainian fund Roosh Ventures.
Combinder, a decentralized energy data network, has closed a $500k Pre-Seed funding round at a $10 million valuation. The network uses blockchain to decentralize energy infrastructure, allowing users to earn $BIND tokens by connecting devices like solar units and EV chargers. With 3,000 beta participants and nine B2B partnerships, Combinder aims to expand its network and enhance its API for more device manufacturers and energy asset types.
Prosper Honored for Excellence in Security and Risk ManagementSAN FRANCISCO, July 23, 2024 /PRNewswire/ -- Prosper Marketplace, the first peer-to-peer lending platform in the United States, is thrilled to announce its selection as a winner in the prestigious 2024 CSO Awards.The 2024 CSO Awards, organized by Foundry (an IDG, Inc. company), celebrate the top security organizations and individuals who have demonstrated exceptional efforts in tackling the challenges posed by an ever-expanding landscape of threats. This year's awards recognize those at the forefront of security innovation, including new threat-detection methods, advanced cyber analytics, and initiatives addressing AI dangers, zero trust, and data protection."We are honored to receive the 2024 CSO Award," said David Kimball, CEO of Prosper. "This recognition is a testament to our team's dedication to implementing cutting-edge security measures that protect our borrowers and investors, ensuring a secure and trustworthy marketplace for all."Prosper's selection as a 2024 CSO Award winner underscores its commitment to pioneering security strategies and delivering robust protection for its clients and stakeholders. This accolade also reflects the company's commitment to staying ahead of emerging threats."Our teams work together across our organization to make information security a core focus for our customers," said Varsha Agarwal, Head of Information Security at Prosper. "Since inception nearly 20 years ago, the security of our marketplace has played a key role in our business operations, culture, and goals
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Prosper Funding is Hiring for 7 Jobs on Simplify!
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About Prosper Funding
Industries
Fintech
Financial Services
Company Size
201-500
Company Stage
Debt Financing
Total Funding
$503.4M
Headquarters
San Francisco, California
Founded
2005
Prosper Funding is Hiring for 7 Jobs on Simplify!
Find jobs on Simplify and start your career today