Prosper is a peer-to-peer lending marketplace that connects people who want to borrow money with individuals and institutions that want to invest in consumer credit. Their goal is to enable borrowers to access credit at affordable rates and provide investors with attractive risk-adjusted rates of return
On Prosper, borrowers list loan requests between $2,000 and $35,000 and individual lenders invest as little as $25 in each loan listing they select. Prosper handles the servicing of the loan on behalf of the matched borrowers and investors. Prosper Marketplace, Inc. was founded in 2005 and is headquartered in San Francisco. The lending platform is owned by Prosper Funding LLC, a subsidiary of Prosper Marketplace, Inc. Loans originated through the Prosper marketplace are made by WebBank, member of the FDIC.
Prosper Funding LLC is a wholly-owned subsidiary of Prosper Marketplace, Inc.
*Based on Preferred Stock Price, Prosper does not have a stock symbol since it is currently private and is yet to have an IPO.
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