Prosper Funding

Prosper Funding

Offers personal loans and credit cards

About Prosper Funding

Simplify's Rating
Why Prosper Funding is rated
B+
Rated B on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Fintech

Financial Services

Company Size

201-500

Company Stage

Debt Financing

Total Funding

$160.4M

Headquarters

San Francisco, California

Founded

2005

Overview

Prosper Funding offers a variety of financial products aimed at improving financial wellbeing for individuals. Their main offerings include personal loans, credit cards, and home equity lines of credit, which are available to people with different credit backgrounds. Personal loans are provided through WebBank, while the Prosper® Card is issued by Coastal Community Bank and operates under a Mastercard license. Prosper distinguishes itself from competitors by being an equal housing lender, which promotes fair access to financial services for all. The company's goal is to provide affordable financial solutions that help customers manage their finances effectively.

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Significant Headcount Growth
Simplify Jobs

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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Funding

Total Funding

$160.4M

Below

Industry Average

Funded Over

11 Rounds

Notable Investors:
Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Debt Funding Comparison
Coming Soon

Benefits

Health Insurance

Unlimited Paid Time Off

Parental Leave

Mental Health Support

Wellness Program

Childcare Support

Pet Insurance

Growth & Insights and Company News

Headcount

6 month growth

5%

1 year growth

5%

2 year growth

5%
PR Newswire
Jul 23rd, 2024
Prosper Marketplace Wins 2024 Cso Award

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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May 13th, 2024
Smalls Sliders(R) Signs 9-Can Agreement in South Texas with Existing Franchisees

ProsperBites brings a dynamic array of experiences to their latest venture with Smalls Sliders.

TechCrunch
Feb 7th, 2024
How Crowdfunding Actually Works In 2024, And Whether You Should Use It To Raise Money

Crowdfunding is to financing what Uber is to taxis or what Airbnb is to hotels: Using the wisdom and resources of the crowd to raise money.Usually, crowdfunding brings many smaller investors or donors together to fund a business, startup or personal initiative. The concept is based on the collective effort of a large number of individuals investing small amounts and leveraging the internet as a platform to present their campaigns and reach potential investors worldwide.To put it in simple terms, crowdfunding is the modern-day equivalent of tossing coins in a hat to help create funds for a cause or idea. Essentially, it is when an individual, startup or organization pitches their idea to a large pool of potential investors with the hopes of raising a specific amount of money.Types of crowdfundingBroadly, there are four types of crowdfunding:Reward-based crowdfunding: Backers give money to a project and receive a tangible item or service in return. Kickstarter and Indiegogo are popular platforms for this type. Equity crowdfunding: Investors receive a stake in the company, typically in the form of equity shares. This type of crowdfunding is regulated by financial authorities to protect investors

Distractify
Dec 15th, 2023
Live Long and Prosper With Any of These 19 'Star Trek' Gifts

Live Long and Prosper with any of these 19 'Star Trek' gifts.

Angel News
Dec 15th, 2023
Prosper smashes Crowdfunding target raising over £1m

Prosper smashes crowdfunding target raising over £1m.

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