ON - Omidyar Network

Prosper's online platform makes consumer lending more financially and socially rewarding for borrowers and lenders.

Why We Invested

Prosper is America's largest peer-to-peer lending platform, providing people access to personal loans at lower rates through a group of community lenders. Prosper's unique marketplace allows borrowers direct access to capital and benefits lenders by managing the investment process.

Prosper's online auction platform allows people who register as lenders to set the minimum interest rate they are willing to earn and bid in increments of $25 to $25,000 on loan listings they select. In addition to criteria commonly used by institutional lenders, such as credit scores and histories, Prosper lenders can also consider borrowers' personal stories, endorsements from friends, and group affiliations.

Impact

• More than 920,000 registered members
• More than $189 million loans funded on Prosper