Prosper Loaned $585M in Q1, Losses Continued
Prosper had a net loss of $23.9 million in Q1 on only $30.8 million in revenue, according to the 10-Q they filed Monday. They originated $585.6 million in loans, 90% of which were funded through their Whole Loan Channel, the segment made up of accredited and institutional investors who buy entire loans.
Prosper had 371 full-time employees at the end of Q1 compared to 667 full-time employees at the end of Q1 2017.
The full report can viewed here.
Note: The net loss figure was originally published with an incorrect digit. It has since been corrected