FT Partners Advises BillGuard on its Sale to Prosper
Overview of Transaction
- On September 24, 2015 BillGuard (the "Company") announced its sale to Prosper Marketplace
- Headquartered in New York, BillGuard is a leading personal finance analytics company that offers award-winning mobile consumer apps to manage, protect and do more with money and credit; to date, BillGuard has flagged over $70 million in unauthorized charges for its mobile users
- Prosper Marketplace is a leading online marketplace for consumer credit that connects borrowers with investors
- The transaction is expected to close by the end of calendar year 2015 and is subject to applicable regulatory approvals and other conditions
Significance of Transaction
- Enables Prosper to combine its successful marketplace lending platform with BillGuard's personal financial management tools to offer consumers a comprehensive financial management package, which will help them make smarter financial decisions
- BillGuard's world-class technology team will accelerate Prosper's product development while providing ongoing access to the strong engineering and product talent pool in Israel
FT Partners' Role
- FT Partners served as exclusive strategic and financial advisor to BillGuard and its Board of Directors
- Developed extensive marketing materials and data analyses to highlight the unique aspects of the business, and led all aspects of transaction execution
- Transaction highlights FT Partners' continued success advising leading financial technology companies and generating highly successful outcomes across the sector