Prosper Originates $631.9M in Q1
Prosper Marketplace originated $631.9M in loans in the first quarter of 2023, up 13% YoY. Ninety percent of Prosper’s Q1 2023 loans were funded through their Whole Loan channel, down slightly from the 92% in Q4 2022. The company generated a loss of $9M on about $38M in revenue.
Prosper is one of the few fintech lenders from the ancient era to somewhat stick with its original business model. Although it moved away from peer-to-peer to Whole Loan sales, it did not become a bank like its competitors LendingClub and SoFi did. Prosper also seems to have stabilized after some tumultuous growth years in the pre-covid era.Last modified: May 24, 2023