The investment comes in form of a convertible promissory note for the amount of 1 million US$, which is due in one year and carries an interest rate of 15%. QED Investors may elect to convert the note into shares of Prosper’s preferred stock.
VC funding for Prosper now totals 41 million US$. Nigel Morris joins Prosper’s board of directors.
(via TechCrunch.com, sources press release & other)