Prosper Marketplace Posts $18.5M Profit for 2020

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Prosper MarketplaceProsper Marketplace reported a $18.5M profit for 2020, up from a net loss of $13.7M in 2019, marking yet another online lender that successfully weathered Covid.

In 2020, Prosper originated $1.5B in loans, $1.4B of which were originated through their Whole Loan Channel.

Like Lending Club, the company has long retreated from its peer-to-peer lending roots, but still operates a platform where individual retail investors can buy notes, whereas Lending Club terminated theirs completely.

Prosper generated $100 million in revenue in 2020 and had 353 full-time employees at year-end.

Prosper is not publicly traded but is required to file regular financial statements with the SEC because it sells notes to retail investors.

Last modified: March 15, 2021

Category: Fintech, Loans

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