Prosper Marketplace Grows Substantially in 2022

Remember Prosper Marketplace from back in the old peer-to-peer lending days? Well, they’re still around. In fact, the company originated $3.3B in loans in 2022, up from $1.9B in 2021. AND they were profitable, generating a net income of $70.5M, up from a net loss of $138.3M in 2021. Not bad! But this was foreseeable given that the company announced a surprise growth capital raise of $75M from a fund managed by Neuberger Berman in November of last year. At the time, Prosper CEO David Kimball said, “This is one of the most exciting times in Prosper’s history.”

The company has long since moved away from a pure peer-to-peer lending model. Ninety-two percent of its loans in 2022 were funded through their Whole Loan Channel, for example.