Prosper Marketplace Announces $25 Million Capital Raise, Led by Sequoia Capital and BlackRock

  Prosper Marketplace Announces $25 Million Capital Raise, Led by Sequoia
  Capital and BlackRock

 Leading Peer-to-Peer Lending Company Raises Additional Funding to Accelerate

Business Wire

SAN FRANCISCO -- September 24, 2013

Prosper Marketplace, Inc., a leading peer-to-peer lending company, today
announced it has raised $25 million in additional funding to accelerate the
company’s growth at a time when peer-to-peer lending is attracting a record
number of borrowers and lenders. The round, which was led by existing partner
Sequoia Capital, also includes a new investment by BlackRock, the world’s
largest asset manager, as well as a broad representation of existing

Since bringing on a new management team in January 2013, the Prosper platform
has more than tripled its monthly loan originations, rising from $9 million in
January to $32 million in August, and bringing total loans to more than $600
million since inception. The company has also been focused on its foundation,
improving efficiencies and introducing new products to the Prosper platform
that have benefited existing customers and helped to attract new borrowers and

“We’re very pleased to be partnering again with Sequoia Capital and now with
BlackRock, a worldwide leader in investment management, risk management and
advisory services. Their investment in Prosper underscores the huge potential
of this company and the peer-to-peer lending industry overall,” said Stephan
Vermut, CEO, Prosper Marketplace. “We’ve made great progress over the past
eight months as evidenced by the platform’s consistent growth in loan
originations. This round of financing will be instrumental as we continue to
invest in our infrastructure, products and customer acquisition in order to
further fuel our growth.”

“We’re thrilled with the rate at which Steve and his team have improved upon
Prosper’s business model, enabling more and more individuals to discover
better rates and have a more positive experience,” said Pat Grady, a partner
at Sequoia Capital. “We’re proud to support Prosper in their mission to
streamline and democratize the capital markets.”

“Prosper is a leader among an emerging group of lending companies that use
technology to more readily connect borrowers and lenders – providing
unprecedented choice and enabling both parties to better achieve their goals,”
said Brian Stern, Managing Director and a member of BlackRock Alternative
Investors. “We believe that Prosper exemplifies the type of thoughtful
innovation that will enable greater access to and growth in global capital

About Prosper Marketplace, Inc.

Prosper Marketplace, Inc. is the parent company of Prosper Funding LLC
(, which owns a leading peer-to-peer financing platform to
invest and borrow money (the "Prosper platform"). The Prosper platform
connects people who want to invest money with people who want to borrow money.
On, borrowers list loan requests between $2,000 and $35,000, and
retail and institutional lenders invest as little as $25 in each loan listing
they select. Institutional investors can also elect to participate in the
Whole Loan Program. Over the past six years, more than $600 million in
personal loans have originated through the Prosper platform. The unsecured
personal loans are used by Prosper borrowers for a variety of purposes
including paying down high interest rate debt and helping with small business
funding. Learn more at

About Sequoia Capital

Sequoia Capitalhelps founders turn imaginative ideas into enduring
companies.As the "Entrepreneurs Behind the Entrepreneurs," the Sequoia team
has worked closely with legendary founders such as Steve Jobs of Apple,Larry
Ellison of Oracle, Len Bosack and Sandy Lerner of Cisco, David Filo andJerry
Yang of Yahoo!,Max Levchin, Elon Musk and Peter Thiel of PayPal, Sergey Brin
andLarry Page of Google,Steve Chen andChad Hurley of YouTube,and Reid
Hoffman and Jeff Weiner of LinkedIn. Sequoia is now helping the next
generation of innovators build the lasting companies of tomorrow.

About BlackRock

BlackRockis a leader in investment management, risk management and advisory
services for institutional and retail clients worldwide. AtJune 30, 2013,
BlackRock’s AUM was$3.857 trillion.BlackRockhelps clients meet their goals
and overcome challenges with a range of products that include separate
accounts, mutual funds, iShares®(exchange-traded funds), and other pooled
investment vehicles.BlackRockalso offers risk management, advisory and
enterprise investment system services to a broad base of institutional
investors throughBlackRock Solutions®. Headquartered inNew York City, as
ofJune 30, 2013, the firm has approximately 10,700 employees in 30 countries
and a major presence in key global markets, includingNorth and South
America,Europe,Asia,Australiaand theMiddle EastandAfrica. For
additional information, please visit the Company's website


Sarah Cain, 415-378-0775
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