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Prosper’s mission is to help individuals manage their finances and to facilitate online peer-to-peer personal loans for both borrowers and investors.


Prosper Marketplace, Inc. has two subsidiaries, Prosper Funding, LLC, and BillGuard, Inc., corresponding to its two principal business segments, which are, respectively:

  • lending platform, an online peer-to-peer lending platform that matches borrowers with investors who are acting as lenders. Borrowers are screened according to income and credit score before they are allowed to make a loan request. Personal loans, which are unsecured and fixed-rate, can be requested in amounts between $2,000 and $25,000. Repayment is monthly, over a pre-specified period of time, and there is no fee for prepayment. Prosper calculates estimated loss and risk rates that are designed to help investors determine which loan listings to select. The company, which charges a fee in exchange for use of the platform, handles all exchanges and payments between the parties.
  • Prosper Daily App (formerly BillGuard), a money-tracking app that also helps protect users from credit card fraud and allows them to monitor their credit scores for free. This app was created by personal-finance startup BillGuard, Inc., which was founded in 2010 and acquired by Prosper Marketplace in 2015. BillGuard’s signature mobile app was renamed Prosper Daily following the acquisition and is now a Prosper product. The acquisition of BillGuard signaled a new push by Prosper to branch out into other areas of personal finance. The BillGuard team is based in Prosper’s Tel Aviv office.


Prosper Marketplace, Inc. was founded in 2006 by John Witchel and Chris Larsen. The company, which is headquartered in San Francisco, was the first online peer-to-peer lending marketplace in the United States.

Originally, it employed an auction-style format to match lenders and investors, a system it has since discontinued using. With over two million members, the platform has handled over $7 billion in loans. Today, it operates at offices throughout the United States, as well as in Tel Aviv.

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