FT Partners Advises Prosper on its $50 million Series G Financing
Overview of Transaction
- On September 22, 2017, Prosper Marketplace announced that it has raised $50 million in a Series G financing round from an investment fund co-managed by FinEx Asia
- San Francisco, CA-based Prosper is a leading marketplace lending platform for consumer loans, connecting people who want to borrow money with individuals and institutions that want to invest in consumer credit
- To date, over $10 billion in personal loans have been originated through the Prosper platform for debt consolidation and large purchases such as home improvement projects, medical expenses and special occasions
- Based in Hong Kong, FinEx Asia is the first global FinTech marketplace connecting Asian investors with high quality, low volatility asset classes, including U.S. consumer lending
Significance of Transaction
- The Series G investment, which brings Prosper’s total equity raised to $410 million to date, will be used to make strategic investments in the Company’s platform and products
FT Partners' Role
- FT Partners served as exclusive strategic and financial advisor to Prosper and its Board of Directors
- FT Partners also advised on Prosper’s $5 billion loan purchase agreement from a consortium of institutional investors
- This transaction further solidifies FT Partners’ role as the advisor of choice in the Alternative Lending sector