Thursday, October 21, 2010

Prosper hits 1 million members

San Francisco Business Times - by Mark Calvey
Date: Monday, October 4, 2010, 2:49pm PDT, the San Francisco-based person-to-person lending marketplace, said Monday that it surpassed the 1 million-member milestone.
The service, which some dub the eBay for money, has facilitated $205 million loans among members who bid on pieces of a member’s loan at various interest rates.
“It’s pretty incredible that 1 million people -- a population greater than our headquarters city of San Francisco -- have engaged with Prosper,” said Chris Larsen, CEO and co-founder of Prosper, which began facilitating loans in 2006. “Peer-to-peer lending represents the future of consumer lending, and the tipping point into the mainstream is within reach.”
Prosper has raised $57.7 million in venture capital. Investors include Jim Breyer of Accel Partners; Bob Kagle of Benchmark Capital; CompuCredit; Omidyar Network; Capital One Co-founder Nigel Morris of QED Investors; Court Coursey of TomorrowVentures; and Larry Cheng of Volition Capital.
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