Prosper Marketplace,
The funding comes on the heels of a record quarter, with nearly 600 million US$ in loans originated through the Prosper platform, up 200% from the year ago quarter. The significant growth is a true indication of the increasing mainstream acceptance of marketplace lending.
“This investment is a testament to the efforts of our entire team in changing how people experience access to credit,†said Aaron Vermut, chief executive officer at Prosper Marketplace. “The explosion of interest in P2P lending demonstrates that a shift is in progress in the way that consumers borrow and lend. This new funding will help us scale the business to meet this growing awareness and demand.â€
Vic Pascucci III, head of corporate development at USAA said, “USAA invests in companies and start-ups to combine the best of external innovation with the best of internal innovation to serve USAA’s members and mission. As the nation’s first peer-to-peer lending service, Prosper has pioneered a new model that makes it simpler to get an unsecured loan. Prosper’s digital capabilities and peer-to-peer lending services are just the kind of innovation we look for in an investment.â€
Jim Breyer, returning investor, Founder/CEO of Breyer Capital and Partner at Accel Partners said, “The accelerating growth of peer-to-peer lending demonstrates that there is a compelling opportunity to disrupt traditional models by improving the experience and enhancing value for people all around the world on both sides of the borrowing and lending equation. The talented team at Prosper has done a tremendous job of creating a trusted and recognized brand, and we are excited to continue supporting the company as it enters its next phase of growth.â€