Prosper Marketplace

Name

Prosper Marketplace

Legal name

Prosper Marketplace, Inc.

Website

https://prosper.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Peer-to-Peer Consumer Lending

NAICS

Mortgage and Nonmortgage Loan Brokers (522310), Consumer Lending (522291)

SIC

Loan Brokers (6163)

akta.pro primary industry

Marketplace & Loan Aggregation Platforms (Borrower-Lender Matching) (FSAGAHAL)

akta.pro secondary industries

Consumer P2P Personal Loans (Unsecured) (FSAKAHAA), P2P Loan Servicing & Collections (Marketplace-Specific) (FSAKAHAN)

Keywords

• Personal loans
• Peer-to-peer lending
• Online lending
• Credit cards
• Debt consolidation

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Loan Origination Fees: Origination fees charged to borrowers at loan origination, ranging from 1% to 9.99% of loan amount, deducted from loan proceeds upfront
2. Borrower Interest Spread: WebBank issues loans and Prosper facilitates marketplace; spread may be captured through origination fees and servicing arrangements
3. Institutional Loan Purchases: Whole loan sales and forward flow agreements with institutional investors like Fortress Investment Group ($500M agreement April 2025)
4. Investor Servicing Fees: Servicing fees deducted from investor returns on loan payments; collection fees and fees on late payments (5% of payment or $15 minimum)
5. Credit Card Annual Fee: Prosper Card charges $59 annual fee, waived first year for AutoPay enrollees

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels9 records

Core offering

Prosper Marketplace operates an online peer-to-peer lending platform that connects individual borrowers seeking unsecured personal loans ($2,000–$50,000, 2–6 year terms, 8.99%–35.99% APR) with retail and institutional investors who fund those loans. The platform also offers the Prosper Card (an unsecured Mastercard credit card) and an Investing platform with Auto Invest, while partnering with WebBank for loan issuance and Coastal Community Bank for the credit card.

Product overview

Prosper Marketplace operates as a peer-to-peer lending marketplace with a diversified product portfolio centered on personal loans. The core offerings include Personal Loans ($2,000-$50,000, 8.99%-35.99% APR, 2-6 year terms) issued through partner WebBank, and the Prosper® Card credit card issued by Coastal Community Bank with Mastercard. Supporting products encompass Home Equity Loans and HELOCs (up to $500,000) through lending partners, while Business Loans and Student Loans are offered via referral partnerships with BusinessLoans.com and Sparrow respectively. The Investing platform enables retail and institutional investors to fund loan portions, featuring automated portfolio management through Auto Invest with risk-rated loan selections (AA through HR). The platform has facilitated over $31 billion in personal loans since 2005 and continues operating under its legacy peer-to-peer model.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Loans Unsecured fixed-rate personal loans ranging from $2,000 to $50,000 with 2–6 year terms and APRs from 8.99% to 35.99%, offered through partner WebBank to U.S. consumers (excl. Iowa and West Virginia) for debt consolidation, home improvement, medical, dental, auto, special occasion, and similar personal financing needs.
• Debt Consolidation Loans Personal loans used to consolidate multiple high-interest debts (primarily credit cards) into a single lower-interest fixed-rate loan with one monthly payment, marketed to U.S. consumers looking to simplify repayment and reduce interest.
• Home Improvement Loans Unsecured personal loans ranging from $2,000 to $50,000 marketed specifically for home renovations, repairs, upgrades, and solar/energy efficiency projects, with no requirement to use the home as collateral.
• Medical Loans Personal loans for healthcare financing covering medical procedures, dental work, fertility treatments, bariatric surgery, and other healthcare expenses with flexible 2–6 year terms, for individuals whose costs are not fully covered by insurance.
• Dental Loans Personal loans for dental care financing including surgical procedures, cosmetic dentistry, implants, crowns, and other dental treatments not covered by insurance.
• Auto / Vehicle Loans Vehicle financing through personal loans covering cars, motorcycles, scooters, boats, golf carts, ATVs, and refinancing of existing auto loans for consumers whose needs are not met by traditional auto lenders.
• Special Occasion Loans Personal loans for weddings, graduation parties, retirement celebrations, birthdays, anniversaries, and family vacations ranging from $2,000 to $50,000.
• Prosper® Card (Credit Card) Unsecured credit card issued by Coastal Community Bank with Mastercard, offering initial credit limits of $500–$3,000 with automatic reviews for credit line increases, cash back rewards, and fraud protection. No security deposit required; $59 annual fee (waived first year with AutoPay).
• Home Equity Loans and HELOCs Home equity loan (HELoan) and home equity line of credit (HELOC) products offered through Prosper's lending partners, with funded amounts up to $500,000 for U.S. homeowners.
• Prosper Investing Platform Peer-to-peer lending investment platform allowing retail and institutional investors to fund portions of personal loans and earn returns, with historical returns of 2.9%–8.0% depending on risk rating (AA to HR) and a 5.2% weighted average historical return (Mar 31, 2026). Supports IRA and tax-deferred investment options.
• Auto Invest Automated investment tool that selects personal loans based on risk rating preferences (AA-B Weighted Mix, Marketplace Mix, or D-HR Weighted Mix) and automatically reinvests returns, available to retail and tax-deferred (IRA) investors on the Prosper platform.
• Student Loans (via Sparrow referral) Student loans and student loan refinancing offered through referral partner Sparrow, covering tuition, room and board, and educational expenses for undergraduate, graduate, and professional students; Prosper earns referral-based revenue.
• Business Loans (via BusinessLoans.com referral) Small business financing up to $3 million offered through cobranded partner BusinessLoans.com, covering equipment purchases, inventory, debt consolidation, and business expansion; funding timeline of 24 hours to 1 week after approval.

Quantifiable outcome

• $2,309 potential interest savings on 3-year $20K debt consolidation loan at 16.7% APR
• +3 more outcomes

Named customers4 records

Segments8 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• WebBankcoreStrategic or Co-development PartnerWebBank is the issuing bank partner for all personal loans through Prosper. All personal loans made by WebBank, an FDIC-insured state-chartered industrial bank.
• Coastal Community BankcoreStrategic or Co-development PartnerCoastal Community Bank issues the Prosper Credit Card as an unsecured credit card, Member FDIC, pursuant to license by Mastercard International.
• RampminorOthersRamp is a spend management platform that Prosper switched to for consolidating procurement, travel, expense, and accounts payable workflows. Prosper reduced manual reconciliation from 10-15 hours per month to under one hour and reclaimed 360 hours annually.
• BusinessLoans.comcoreChannel Partner/ Reseller/ DistributorBusinessLoans.com is a platform connecting businesses with potential lenders, providing various financing options tailored to their needs. Prosper refers small business loan customers to this partner for loans up to $3 million.
• SparrowminorChannel Partner/ Reseller/ DistributorSparrow offers student loans and student loan refinancing as Prosper's referral partner for education financing solutions. Student loans are not available through Prosper directly.
• Insure.comminorChannel Partner/ Reseller/ DistributorInsure.com is a website for comparing free quotes for life, auto, and home insurance. Prosper refers customers seeking insurance products to Insure.com.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• LendingClub: LendingClub is the most direct competitor — originally a peer-to-peer personal loan marketplace, now public (NYSE: LC), offering unsecured personal loans via WebBank partnership with comparable APR ranges and a similar retail-to-institutional funding evolution.
• Upstart: Upstart operates an AI-driven personal loan marketplace partnering with banks and credit unions, directly competing for the same unsecured personal loan borrower segment with similar next-day funding and alternative credit underwriting.
• SoFi: SoFi is a direct competitor in personal loans with similar APR ranges and self-serve digital platform, though larger and more diversified across mortgages, credit cards, and deposit products — now a chartered bank.
• Upgrade: Upgrade offers unsecured personal loans with similar $1K-$50K loan sizes and rate-check-without-hard-pull features, targeting the same debt consolidation and credit card refinancing use cases as Prosper.
• Best Egg: Best Egg is a direct online personal loan lender offering $2K-$50K unsecured loans with similar APR ranges, focused on debt consolidation and home improvement — competing head-to-head for the same borrower profile.
• Rocket Loans: Rocket Loans (part of Rocket Companies) is a direct online personal loan provider offering similar $2K-$45K unsecured loans, leveraging Rocket's mortgage brand for cross-selling — closely comparable on product and digital experience.
• LightStream: LightStream (a SunTrust/Truist division) offers online unsecured personal loans from $5K-$100K with rate-based discounts for Autopay/existing customers — directly competitive on product range and digital experience.
• Avant: Avant specializes in online personal loans for near-prime and subprime borrowers (typically FICO 580-700), directly overlapping with Prosper's lower-end borrower cohort on debt consolidation and credit building use cases.

Broad incumbents

• Marcus by Goldman Sachs: Marcus is Goldman Sachs' consumer lending arm offering unsecured personal loans up to $40K with no fees — a broad incumbent competing in the same segment but benefiting from Goldman's balance sheet and lower funding costs.
• OneMain Financial: OneMain is a large established consumer lender offering secured and unsecured personal loans to non-prime borrowers with a hybrid online/branch model — broader incumbent serving a similar credit profile with extensive physical distribution.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/ProsperLoans
• Facebookfacebook.com/prosperloans
• LinkedInlinkedin.com/company/prosper-marketplace
• Instagraminstagram.com/letsgoprosper

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds17 records

Investors33 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Prosper Marketplace