# Prosper Marketplace

> Prosper Marketplace connects U.S. personal-loan borrowers with individual and institutional investors and offers an unsecured credit card. Founded in 2005, it facilitated $32.1 billion in cumulative personal-loan originations through June 2026. Whole-loan buyers funded 95% of Q2 2026 originations.

- **Founded:** 2005
- **Headquarters:** San Francisco, United States
- **Founders:** Chris Larsen (Co-founder and original CEO), John Witchel (Co-founder and former CTO)
- **Products:** Personal loan marketplace, Retail investing and IRAs, Prosper Card, Home-equity products (discontinued), Investor API
- **Notable:** Pioneered U.S. peer-to-peer consumer lending; founded in 2005 and opened publicly in 2006., $32.1 billion cumulative personal-loan originations through June 30, 2026., $809.8 million Q2 2026 personal-loan originations, up 15% year over year.

## Products & services

- **Personal loan marketplace** — Unsecured fixed-rate loans made by WebBank; advertised $2,000-$50,000, two- to six-year terms, 8.99%-35.99% APR, and 1%-9.99% origination fees as reviewed October 2026. Eligibility and funding conditions apply.
- **Retail investing and IRAs** — Payment-dependent Notes tied to personal loans; $25 minimum for general investment accounts. Manual selection and Auto Invest are available. Principal is at risk.
- **Prosper Card** — Unsecured Mastercard issued by Coastal Community Bank. $59 annual fee, conditionally waived for the first year with AutoPay; no security deposit.
- **Home-equity products (discontinued)** — HELOCs introduced in 2018; home-equity loans added in 2022. Prosper discontinued offering home-equity products in December 2025.
- **Investor API** — Developer access to the marketplace; historical iOS and Android borrower-application SDKs also published.

## Achievements

- Pioneered U.S. peer-to-peer consumer lending; founded in 2005 and opened publicly in 2006.
- $32.1 billion cumulative personal-loan originations through June 30, 2026.
- $809.8 million Q2 2026 personal-loan originations, up 15% year over year.
- Received the FICO Decisions Financial Inclusion Award in 2023, according to its company history.

## Latest updates

- **2026-08** — Q2 Form 10-Q filed August 13: $809.8 million quarterly personal-loan originations, 95% funded through the whole-loan channel.
- **2026-03** — FY2025 Form 10-K reported $212.549 million total net revenues and $2.7 billion personal-loan originations.
- **2025-12** — Discontinued offering home-equity products, according to its annual report.
- **2025-12** — Breach notice described the incident discovered September 1, information obtained June-August, notification letters and additional security controls.
- **2025-07** — Announced its first brand refresh in nearly a decade for its twentieth-anniversary year.

## Links

- Website: https://www.prosper.com/
- LinkedIn: https://www.linkedin.com/company/prosper-marketplace/
- Twitter/X: https://twitter.com/prosperloans
- GitHub: https://github.com/prosperllc
- Facebook: https://www.facebook.com/prosperloans

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Profile page: https://yespress.io/prosper-marketplace
Published by YesPress — https://yespress.io
Last updated: 2026-10-22