Prosper Marketplace Surpasses $2 Billion in Personal Loans on its Platform

SAN FRANCISCO–(BUSINESS WIRE)–Prosper Marketplace (www.prosper.com), a leading online marketplace for consumer credit, today announced more than $2 billion in personal loans have been originated through its platform, just six months after reaching the $1 billion milestone in April 2014. Year to date, Prosper has originated more than $1.2 billion in loans through its platform.

“As Prosper continues on this path of rapid growth, we are focused on investing in our people, products, and in building out a world-class customer service team to ensure the best possible experience on our platform.”

“It took us eight years to reach the first billion in loans on our platform, and just six months to reach the second billion,” said Aaron Vermut, CEO, Prosper Marketplace. “As Prosper continues on this path of rapid growth, we are focused on investing in our people, products, and in building out a world-class customer service team to ensure the best possible experience on our platform.”

To celebrate its $2 billion milestone and show appreciation for its thriving community, Prosper Marketplace is kicking off two contests: the “$2 Billion Strong Video Contest” and the “$2 Billion Strong Photo Contest.” Beginning October 27 through November 13, borrowers are invited to submit a video about their Prosper experience for a chance to win the grand prize – a loan payoff of one active loan balance up to $35,000. Beginning October 27 through November 13, borrowers are also invited to submit a photo about their Prosper experience for a chance to win first prize – a $5,000 credit to the winner’s active loan balance. The Prosper team will choose five finalists for each Contest on November 16. The Prosper community will ultimately choose the winners for each Contest with voting open from November 16 – 24, and winners for each Contest will be announced in early December.

 

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To support its growth, Prosper has recently added key members to its executive management team, including a new CFO, CMO and head of business development and HR. The team has grown to over 200 people, up from 83 a year ago. The company has also opened offices in Phoenix, Arizona and will move its San Francisco headquarters to larger office space south of Market to accommodate its expanding team. Prosper Marketplace was recently named #13 on the list of the 100 Fastest Growing Private Companies in the Bay Area by the San Francisco Business Times.

About Prosper

Prosper Funding LLC (“Prosper”), headquartered in San Francisco, is a leading online marketplace for consumer credit. Prosper connects people who want to borrow money with people who want to invest money. With a commitment to providing world-class customer service, the convenience of applying online day or night, and none of the lengthy applications or wait times associated with traditional avenues, Prosper offers people a superior way to borrow money at fair rates. Over the past six years, more than $1 billion in personal loans has originated through the Prosper platform, helping people around the U.S. consolidate credit card debt and finance major purchases. Learn more about borrowing and investing through Prosper at www.prosper.com. Prosper Marketplace, Inc., founded in 2006, is the parent company of Prosper Funding LLC.

All personal loans are made by WebBank, a Utah-chartered Industrial Bank, Member FDIC. All Prosper personal loans are unsecured, fully amortized personal loans.

Notes offered by Prospectus.

About the $2 Billion Strong Contest:

NO PURCHASE NECESSARY. Must be a legal resident of the 50 United States including DC, age 18 or older and an active borrower of Prosper as of October 24, 2014 at 11:59:59 PM ET. Void outside the US and wherever else prohibited by law. Contest Entry Period begins on 10/27/14 and ends on 11/13/14. Public Voting Period begins on 11/17/14 and ends at 11:59:59 PM PT on November 24, 2014. For Official Rules, visitwww.facebook.com/prosperloans. Sponsor: Prosper Marketplace, Inc., 101 Second Street, 15th Floor, San Francisco, CA 94105.

Contacts

Prosper
Sarah Cain, 415-378-0775
scain@prosper.com

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