Prosper Said to Get $650 Million Valuation After Funding
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Prosper Marketplace Inc., the peer-to-peer lender that until last year was struggling to stay in business amid investor lawsuits and regulatory burdens, is now valued at $650 million, according to a person with knowledge of the company.
Prosper said today that it raised $70 million from Francisco Partners, Institutional Venture Partners and Phenomen Ventures. The funding includes $50 million to the company and $20 million for early investors, said the person, who asked not to be identified because the terms haven’t been disclosed.