Prosper Secures an Additional $20 Million
Series C Financing led by DAG Ventures and Meritech Capital Partners
SAN FRANCISCO–(BUSINESS WIRE)–Prosper (www.prosper.com), America’s first people-to-people lending marketplace, today announced the closing of a $20 million Series C financing round led by DAG Ventures and Meritech Capital Partners with participation by existing investors: Accel Partners, Benchmark Capital, Fidelity Ventures and Omidyar Network. This financing brings the total amount of capital raised by Prosper to $40 million.
“Prosper is well positioned to capitalize on a tremendous market opportunity,” said Paul Madera, Managing Director of Meritech Capital Partners. “Prosper has the team, technology, and long-term drive to transform the multi-billion dollar consumer lending industry.”
“An enormous market opportunity combined with a terrific business model is a recipe for success,” said John Cadeddu of DAG Ventures. “We think Prosper has both of these ingredients. But more importantly, we believe Prosper has the team to build an enduring, leading company.”
“We are appreciative of our new and early investors for their support and commitment,” said Chris Larsen, Co-founder and Chief Executive Officer of Prosper. “This latest round of financing provides us with considerable resources toward maintaining our leadership position and continuing to rapidly grow the Prosper marketplace.”
Since launching in February 2006, Prosper’s membership has grown to over 330,000 individuals with $70 million in loans funded in the Prosper marketplace. To find out more about Prosper, visit www.prosper.com.
