September 25, 2015
The acquisition combines one of the largest and fastest growing personal finance apps with Prosper’s expertise in crowd-powered lending. The duo will focus on an integration which stems from BillGuard’s founding mission, to empower consumers to control, protect, and now with Prosper, introduce new opportunities to do more with their money. Both companies share similar values including a commitment to connecting users on a social level and empowering them to be financially secure, smart and successful.
This will be a transformative acquisition for Prosper Marketplace and for the marketplace lending industry. Until now, nobody has brought together marketplace lending and personal finance management to deliver an offering that truly empowers, protects and educates consumers, said Aaron Vermut, chief executive officer at Prosper Marketplace. In addition to the strategic value of this acquisition, we’re also excited to welcome the BillGuard team to Prosper Marketplace. They represent truly world-class talent and bring a team and technology platform that will immediately accelerate our product development.
Being a part of a billion dollar plus pre-IPO rocket ship (Unicorn) is a once in a lifetime opportunity, personally, professionally and financially.
While Prosper has grown into a billion dollar organization with hundreds of employees, Yaron is confident that it’s not the end of BillGuard’s startup culture and innovation. Better yet, this new chapter will foster immediate exponential growth in their Tel Aviv office, the blog further noted. He said that exciting new features inspired by consumer feedback will be announced in the future.
Prosper’s powerful P2P (Peer to Peer) lending platform has played a vital role in changing the way people invest and borrow money, creating a new alternative lending community. By joining forces with Prosper, BillGuard’s full suite of personal finance tools will add even more value to a vast new audience. Access to crowdsourced analytics will enable users to make more informed investment decisions with confidence.
About Prosper Marketplace
Prosper Marketplace, headquartered in San Francisco, operates a leading online marketplace for consumer credit. The Prosper platform connects people who want to borrow money with people who want to invest money. With a commitment to providing world-class customer service, the convenience of applying online day or night, without any of the lengthy applications or wait times associated with traditional avenues, the Prosper platform offers people a superior way to borrow money at fair rates. Over $4 billion in personal loans have originated through the Prosper platform, helping people around the U.S. consolidate credit card debt and pay for everything from medical procedures to home improvement to special occasions. Learn more about borrowing and investing through the Prosper platform. The Prosper lending platform is owned by Prosper Funding LLC, which is a subsidiary of Prosper Marketplace.
BillGuard’s mission is to empower consumers to control, protect and do more with their money. BillGuard’s proprietary transaction monitoring technology pioneered the use of crowdsourcing and big data analytics to help consumers detect the $8 billion in wrongful payment card charges missed by banks each year. Downloaded over a million and a half times since release, BillGuard’s 5-star rated mobile apps have won almost every industry award in their category, including being named one of the top banking innovations of all time by Online Banking Report. The company was founded in 2010 and has offices in New York City and Tel Aviv. BillGuard is backed by some of the world’s top venture investors, including Bessemer Venture Partners, Khosla Ventures, Peter Thiel’s Founders Fund, Eric Schmidt’s Innovation Endeavors, IA Ventures and SV Angel. For more information, visit.