Prosper Marketplace Revenue, Valuation, Funding & Investors

Prosper Marketplace is valued at $550M as of September 2017, a 3.2x multiple on its last reported $173M revenue.

Last Prosper Marketplace valuation

$550M

Series G · Sep 2017

Last Prosper Marketplace funding round

$50M

Series G · Sep 2017

Prosper Marketplace revenue

$173M

Series G · Sep 2017

Key investors in Prosper Marketplace

  • Sequoia Capital
  • EG Capital Advisors
  • BlackRock
  • IVP
  • Target Global
  • Breyer Capital

Prosper Marketplace Overview

About Prosper Marketplace

Prosper Marketplace is a San Francisco-headquartered online lending platform founded in 2005. It matches borrowers with individual and institutional investors for personal loans ranging from $2,000 to $50,000 at fixed rates without prepayment penalties. The data-driven underwriting model assesses credit risk using alternative data, facilitating over $20 billion in funded loans across the U.S.


Founded

2005

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Revenue

$173M (Sep 2017)

Valuation

$550M (Sep 2017)

Prosper Marketplace Valuation

Prosper Marketplace is currently valued at $550M, based on its Series G in September 2017.

The $50M round was led by Assured Asset Management, with participation from LPG Capital.

Prosper Marketplace's valuation has grown 4.4x from $125M at its Series B in September 2013 to $550M in September 2017, across 5 priced rounds.

Prosper Marketplace valuation by funding round

Revenue multiple
Prosper Marketplace valuation by funding round
DateStageValuationRevenue Multiple
Sep 2017Series G$550M3.2x
Mar 2016Secondary$550M3.2x
Apr 2015Series D$1.9B-
May 2014Series C$650M-
Sep 2013Series B$125M-

Prosper Marketplace Revenue

Prosper Marketplace's latest recorded revenue is $173M, as of its Series G in September 2017. At a $550M valuation, that implies a 3.2x revenue multiple.

Revenue moved from $173M in March 2016 to $173M in September 2017, while the revenue multiple moved from 3.2x to 3.2x.

Prosper Marketplace revenue by funding round

Prosper Marketplace revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Sep 2017$173M$550M3.2xSeries G
Mar 2016$173M$550M3.2xSecondary

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Prosper Marketplace Funding History

Prosper Marketplace has raised a total of $330M across 5 funding rounds, plus 2 secondary share sales.

Prosper Marketplace's first fundraising round was a $20M Series A in January 2013. The most recent completed round was a $50M Series G in September 2017.

Prosper Marketplace funding rounds

Prosper Marketplace funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2017Series GAssured Asset Management (lead); LPG Capital$50M$550MProsper Marketplace operates as a peer-to-peer lending platform facilitating consumer loans, having originated over $10 billion in loans since 2006. In 2017, it raised approximately $50 million in a down round led by Assured Asset Management and others including LPG Capital, at a post-money valuation of $550 million, marking a 70-71% decline from its prior estimated $1.87-1.9 billion valuation in 2015. The funding was intended for strategic investments in the company's platform and products amid a sector downturn affecting marketplace lending. The round reflected broader challenges in the online lending space, with Prosper reporting strong Q2 2017 loan originations of $775 million, up 32% quarter-over-quarter and 74% year-over-year, though Q1 2017 net revenue fell 45% year-over-year to lower levels due to reduced originations. Cumulative originations reached $8.9 billion through March 31, 2017, with 86% funded via the Whole Loan Channel. Earlier, institutional investors committed to purchase up to $5 billion in loans over 24 months announced in Q1 2017. Prosper had faced setbacks like shuttering its Prosper Daily app in July 2017 after acquiring BillGuard for $30 million in 2015, and leadership changes including new CEO David Kimball in late 2016 and CFO Usama Ashraf earlier in 2017. The valuation drop aligned with competitor Lending Club's 68% share price decline since April 2015. No specific revenue, ARR, or EBITDA figures near the September 2017 round were detailed using standard terms in sources; loan originations and performance metrics were highlighted instead.
Mar 2016SecondarySharesPost Investment Management (lead)$2M$550M-
Jun 2015SecondaryTarget Global (lead); Akkadian Ventures; EG Capital Advisors$13M--
Apr 2015Series DCredit Suisse (lead); Breyer Capital; JPMorgan Asset Management; Propel Holdings; Boardman Bay Capital Management; Neuberger Berman; USAA; EG Capital Advisors; BBVA Ventures; Rancilio Cube Sicaf; Passport Capital$165M$1.9B-
May 2014Series CFrancisco Partners (lead); IVP; Phenomen$70M$650MProsper Marketplace, a peer-to-peer lending platform focused on consumer credit, raised $70 million in a growth funding round on May 5, 2014, led by Francisco Partners with participation from IVP and Phenomen Ventures. The investment brought Prosper's total funding to $145 million, following prior backers like Sequoia Capital and others. The capital was earmarked to fuel platform expansion, technology advancements, and talent acquisition after a record April with over $100 million in monthly loan originations. This round valued Prosper at $650 million post-money, as reported by Bloomberg. Under CEO Aaron Vermut and his father Stephan, both ex-Wells Fargo executives, the company had accelerated growth, scaling monthly originations from $9 million in January 2013 to over $100 million by April 2014—a more than 400% increase year-over-year. Cumulative loans originated surpassed $1 billion in April, with plans to reach $2 billion that year, capturing 35% market share in online consumer peer-to-peer lending. Prosper differentiated by emphasizing consumer credit, avoiding business loans unlike competitor Lending Club, and investing in product efficiencies to attract more borrowers and lenders. The funding came amid rapid sector growth, positioning Prosper as the fastest-growing U.S. P2P lender at the time.
Sep 2013Series BSequoia Capital (lead); Cal King Thomas; BlackRock$25M$125MProsper Marketplace is a peer-to-peer lending platform founded in 2006 by Chris Larsen and John Witchel that allows individuals to originate and invest in unsecured personal loans. The platform relaunched in 2009 after obtaining SEC approval to operate as a licensed marketplace lender. In September 2013, Prosper announced a $25 million Series F funding round led by Sequoia Capital with participation from BlackRock. This round followed a $20 million Series E investment in January 2013, also led by Sequoia, which brought in new CEO Stephan Vermut from Wells Fargo. Prior to the September 2013 round, the company had raised $94.9 million in total funding. The September 2013 round brought cumulative equity funding to $119.9 million. At the time of the announcement, Prosper reported strong momentum with loans executed on its platform totaling $32 million in August 2013, representing nearly a quadrupling from $9 million in January 2013, and translating to a 12-month run-rate of over $360 million in loan originations. The company had facilitated a cumulative $630 million in loans since its 2006 launch.
Jan 2013Series ASequoia Capital (lead); Ron Suber; Atlanticus; TomorrowVentures; Omidyar Network; Accel; Crosslink Capital$20M-Prosper Marketplace is a U.S.-based peer-to-peer lending platform launched in 2006 that facilitates loans between individual borrowers and investors. It relaunched in 2009 after receiving SEC approval. In January 2013, Prosper raised $20 million in a funding round led by Sequoia Capital, with participation from existing investors including Accel Partners, Crosslink Capital, Omidyar Network, Draper Fisher Jurvetson, CompuCredit, Eric Schmidt’s TomorrowVentures, and Volition Capital. This brought the company's total funding to $95 million. Sequoia Capital Partner Pat Grady joined the board, and Stephan Vermut, founder of Merlin Securities, was appointed as the new CEO, succeeding interim CEO Dawn Lepore. The funds were intended to attract new lenders to the platform and support sales and marketing efforts. Sequoia viewed the investment as timely given changes in the lending market, with banks tightening credit and businesses seeking alternative financing options. Prosper competed with Lending Club in the peer-to-peer lending space, but investors saw room for multiple marketplaces. A follow-on $25 million round occurred in September 2013, again led by Sequoia with BlackRock participating, bringing total funding to nearly $120 million. By then, loans executed grew from $9 million in January 2013 to $32 million in August 2013, with a 12-month run-rate exceeding $360 million and cumulative loans reaching $630 million.

Who has invested in Prosper Marketplace?

28 investors have backed Prosper Marketplace across its funding rounds, including Sequoia Capital, EG Capital Advisors, BlackRock, IVP, Target Global and Breyer Capital.

Lead investors include Assured Asset Management, SharesPost Investment Management, Target Global, Credit Suisse, Francisco Partners and 1 other investor.


Prosper Marketplace Investors

Investors in Prosper Marketplace by funding rounds participated
InvestorHQRoundsRoleFirst check
Sequoia CapitalUnited StatesSan Francisco, CA2LeadJan 2013
EG Capital AdvisorsUnited KingdomLondon2ParticipantApr 2015
Breyer CapitalUnited StatesSan Francisco, CA1ParticipantApr 2015
Ron SuberUnited StatesDenver, CO1ParticipantJan 2013
AtlanticusUnited StatesAtlanta, GA1ParticipantJan 2013
IVPUnited StatesSan Francisco, CA1ParticipantMay 2014
JPMorgan Asset ManagementUnited StatesNew York1ParticipantApr 2015
TomorrowVenturesUnited StatesSan Francisco, CA1ParticipantJan 2013
Propel HoldingsCanadaCharlottetown1ParticipantApr 2015
Boardman Bay Capital ManagementUnited StatesNew York City, NY1ParticipantApr 2015
Cal King ThomasUnited StatesSan Francisco, CA1ParticipantSep 2013
Neuberger BermanUnited StatesNew York City, NY1ParticipantApr 2015
PhenomenUnited KingdomLondon1ParticipantMay 2014

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Acquisitions by Prosper Marketplace

Prosper Marketplace has acquired 2 companies to date.

Last acquisition by Prosper Marketplace was on September 23rd 2015. Prosper Marketplace acquired BillGuard for $25M.


Latest Acquisitions by Prosper Marketplace

BillGuard
American HealthCare Lending
Description
BillGuard is a personal finance application available on iOS and Android that monitors transactions for security and insights. Users review spend analytics, credit scores, charge disputes, and data breach notifications powered by crowdsourced data, Consumer Financial Protection Bureau records, online complaints, and proprietary algorithms. Alerts arrive via email and push notifications. Originally launched in April 2010 with offices in New York and Tel Aviv, the company integrated into Prosper Marketplace following its October 2015 acquisition.
American HealthCare Lending is a nationwide patient financing platform founded in 2014 that connects healthcare providers with lending partners for elective procedures. Headquartered in Irvine, California, it offers point-of-sale loans for dental, cosmetic, vision, veterinary, and wellness services with approvals up to $75,000. The company integrates seamlessly with practice management software from vendors like Dentrix and provides fixed-rate terms from 12 to 84 months, processing over 100,000 applications annually.
HQ CountryUnited StatesUnited States
HQ City
New York City, NY
Salt Lake City, UT
Deal Date23 Sep 201527 Jan 2015
Valuation$25M$21M
EV/Revenue
EV/EBITDA

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Prosper Marketplace Competitors

Prosper Marketplace competitors include listed companies like Pepper Money, United International Holding, eGuarantee and OppFi, and private ones like Monedo and LendUp.

Public and private companies comparable to Prosper Marketplace
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Pepper MoneyAustraliaAustraliaPublicly listed$360M-$552M39.9x
United International HoldingSaudi ArabiaSaudi ArabiaPublicly listed$205M$84M$553M2.6x
MonedoGermanyHamburgPrivate--$545M-
LendUpUnited StatesSan Francisco, CAPrivate--$540M-
eGuaranteeJapanJapanPublicly listed$71M$34M$515M6.1x
OppFiUnited StatesUnited StatesPublicly listed$597M$161M$600M1.4x

Prosper Marketplace Public Comps

Prosper Marketplace is still privately-owned, but its public comps include Pepper Money, United International Holding, eGuarantee, OppFi, goeasy, Funding Circle, loanDepot, Propel Holdings, Oportun and LendingTree.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Pepper Money$360M-33.4x39.9x--
United International Holding$205M$84M2.5x2.6x6.1x-
eGuarantee$71M$34M6.2x6.1x13.2x12.4x
OppFi$597M$161M1.4x1.4x5.1x3.9x
goeasy$1.2B($76M)2.9x3.1x(47.1x)-
Funding Circle$299M$42M2.6x2.3x18.5x10.6x
loanDepot$897M-5.7x4.0x--
Propel Holdings$556M$130M1.9x1.5x8.3x6.8x

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Common questions about Prosper Marketplace

When was Prosper Marketplace founded?Prosper Marketplace was founded in 2005.
Where is Prosper Marketplace headquartered?Prosper Marketplace is headquartered in San Francisco, CA, United States.
Is Prosper Marketplace publicly listed?No, Prosper Marketplace is a private, VC-backed company.
What is Prosper Marketplace's valuation?Prosper Marketplace was last valued at $550M in its Series G in September 2017.
How much funding has Prosper Marketplace raised?Prosper Marketplace has raised $330M across 5 funding rounds.
What was Prosper Marketplace's last funding round?Prosper Marketplace's last funding round was a $50M Series G in September 2017, led by Assured Asset Management.
Who are Prosper Marketplace's investors?Prosper Marketplace's investors include Sequoia Capital, EG Capital Advisors, Breyer Capital, Ron Suber, Atlanticus, IVP, JPMorgan Asset Management, TomorrowVentures, Propel Holdings, Boardman Bay Capital Management and 18 others.
What is Prosper Marketplace's revenue?Prosper Marketplace's latest recorded revenue is $173M (September 2017).
What is Prosper Marketplace's revenue multiple?Prosper Marketplace's latest valuation implies a 3.2x revenue multiple ($550M valuation on $173M of revenue).
Which companies are comparable to Prosper Marketplace?Companies comparable to Prosper Marketplace include Pepper Money, United International Holding, Monedo, LendUp, eGuarantee and OppFi.
How many companies has Prosper Marketplace acquired?Prosper Marketplace has acquired 2 companies, including BillGuard and American HealthCare Lending.
What was the largest acquisition by Prosper Marketplace?The $25M acquisition of BillGuard in September 2015 is the largest acquisition Prosper Marketplace has made to date.

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