Prosper Marketplace Closes $50 Million

Fintech startup Prosper Marketplace closed $50 million in financing from FinEX Asia.

Prosper is a people-to-people lending marketplace with more than $10 billion in funded loans. The platform allows people to invest in each other in a way that aims to be financially and socially rewarding. On Prosper, borrowers list loan requests of between $2,000 and $35,000, and individual investors can provide as little as $25 to each loan listing they select. Once the process is complete, borrowers make fixed monthly payments and investors receive portions of those payments directly to their Prosper accounts. Prosper handles the servicing of the loan on behalf of the matched borrowers and investors.

In its announcement, the company said the funds will be used to make strategic investments in Prosper’s platform and products.