Prosper Marketplace Appoints Usama Ashraf Chief Financial Officer
SAN FRANCISCO–(BUSINESS WIRE)–Prosper Marketplace announced today it has appointed Usama Ashraf as Chief Financial Officer. As CFO, Ashraf will oversee the company’s capital markets function, as well as all of the company’s finance activities. As head of the Capital Markets team, he will be responsible for expanding the company’s funding sources by bringing new investors onto the Prosper lending platform.
Ashraf brings more than 18 years of experience spanning corporate finance and global capital markets, including funding, securitization, financial reporting, planning, investor relations, balance sheet management, strategy, and mergers and acquisitions. He has held senior leadership positions at prominent financial services companies, most recently as Deputy Chief Financial Officer and Treasurer at Annaly Capital Management and Corporate Treasurer at USAA. Ashraf will start his new position at Prosper Marketplace on February 27.
“We’re thrilled to have someone with Usama’s experience and track record in finance and global capital markets join our team,” said David Kimball, CEO, Prosper Marketplace. “Usama will be instrumental in bringing new institutional investors onto the Prosper platform, including banks, as we continue to grow the platform in 2017.”
“I’ve watched the online lending industry with keen interest over the past year, and I have been impressed with Prosper’s resiliency and commitment to innovation,” said Ashraf. “I am a strong believer in Prosper’s mission to advance financial well-being, and I look forward to working closely with David and the Prosper team to take the business to the next level.”
Prior to joining USAA, Ashraf spent 13 years in the Treasury and Corporate M&A departments of CIT Group, most recently serving as Deputy Treasurer with responsibility for the firm’s Treasury activities in the U.S. Previously, he worked in the Investment Banking Division of Salomon Smith Barney/Citigroup focused on M&A. Ashraf received a BS in Economics with concentrations in Finance and Accounting from The Wharton School of the University of Pennsylvania.
Prosper’s mission is to advance financial well-being. The company’s online lending platform connects people who want to borrow money with individuals and institutions that want to invest in consumer credit. Borrowers get access to affordable fixed-rate, fixed-term personal loans, and investors have the opportunity to earn attractive returns via the platform’s data-driven underwriting model. To date, Prosper has originated over $8 billion in personal loans for debt consolidation and large purchases such as home improvement projects, medical expenses and special occasions. The award-winning Prosper Daily app offers essential tools to help people manage their financial wellness every day.
Prosper launched in 2006 and is headquartered in San Francisco. The lending platform is owned by Prosper Funding LLC, and Prosper Daily is owned by BillGuard Inc., both subsidiaries of Prosper Marketplace. Visit www.prosper.com and follow @Prosperloans on Twitter to learn more.
Sarah Cain, 415-593-5474