Prosper Targets Retail Investors Anew After Big Buyers Pull Back
- Firm aims to have a third of loans funded by small investors
- Company has overhauled an online platform used by those buyers
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Prosper Marketplace Inc. plans to lean harder on small investors to fund consumer debts it arranges online, reemphasizing the company’s roots as a “peer-to-peer” lender so it’s not too reliant on Wall Street money.
Prosper hopes retail investors will fund about a third of loans by the end of this year, Ron Suber, the San Francisco-based firm’s president, said in a phone interview late Tuesday. That’s up from just under 10 percent at the end of 2015 and 20 percent in recent months, he said.