Prosper Marketplace

Overview

Prosper Marketplace is a San Francisco-based financial services company operating one of the first peer-to-peer lending platforms in the United States. Founded in 2005, Prosper enables individuals to apply for personal loans, open credit cards, or invest in consumer credit through a marketplace model. The platform connects borrowers and investors directly, with loan amounts ranging from $2,000 to $50,000. Since its launch, Prosper has facilitated over $23 billion in personal loans. The company is structured around Prosper Funding LLC, which services loans and manages borrower and investor relationships. In addition to its core lending business, Prosper offers tools for financial planning and credit monitoring. In April 2025, Prosper entered into a $500 million forward flow agreement with Fortress Investment Group and Edge Focus to expand loan originations. Prosper has provided an increasing amount of information about prospective borrowers over time, while also making various changes to its credit policy. Prior to its 2008 'quiet period' and 2009 SEC registration, the company provided 'Credit Grades' and other credit information about its prospective lenders. Following the SEC registration, the company created a new model that determined 'Prosper Ratings' instead. Additionally, new prospective borrowers were required to have a FICO 8 credit score of at least 640, while returning borrowers only need a score of 600 to request a loan.

Investment Focus

• Prosper requires borrowers to have a minimum FICO 8 credit score of 640 for new applicants and 600 for returning borrowers.