Prosper Names Josh Tonderys Chief Risk Officer
SAN FRANCISCO – OCTOBER 3, 2012 – Prosper, a leading peer-to-peer lending marketplace, today announced the appointment of Josh Tonderys as Chief Risk Officer. In this role, Mr. Tonderys will be responsible for overseeing all aspects of credit risk management and will report directly to Prosper COO Kirk Inglis.
“We are thrilled to have someone of Josh’s caliber join the Prosper team,” said Dawn Lepore, CEO, Prosper. “Prosper is experiencing significant growth, recently reporting its largest loan origination month in history, as well as 37 consecutive months of positive returns for investors on our platform. Josh brings directly relevant credit experience and leadership to the Prosper team, which is a huge asset as we move into our next phase of accelerating borrower and investor adoption.”
“Having Josh in the role of Chief Risk Officer is an outstanding addition to the Prosper leadership team,” said Nigel Morris, Co-founder of Capital One, Prosper Board Member and Head of the Prosper Credit Risk Committee. “Josh’s experience in risk management and customer acquisition at Barclays will bring valuable knowledge and perspective to Prosper as the company continues to grow in today’s complex environment.”
“I couldn’t be more excited to be joining Prosper at a point when peer-to-peer lending is taking off,” said Mr.Tonderys. “Prosper is in a unique position to provide a great option for responsible borrowers while providing investors direct profitable access to the consumer loan market.”
Mr.Tonderys brings more than 13 years of experience in the financial services industry. Most recently, he was Senior Director and responsible for the Open Market business at Barclaycard US, the largest portfolio segment with1.2 million customers and assets of over $2.5 billion. In this role, Mr. Tonderys oversaw strategy, analytics, and growth initiatives for the Barclaycard branded credit card portfolio. While at Barclaycard, Mr.Tonderys was also the Head of Acquisitions and Portfolio Risk, where he was responsible for setting analytical credit risk strategies for Acquisitions and Portfolio Risk Management, as well as Head of Collections Strategy. Prior to Barclaycard, Mr.Tonderys held various credit risk roles at BankOne, now Chase Card Services.
Prosper is a leading peer-to-peer lending marketplace that connects people who want to invest money with people who want to borrow money. On Prosper.com, borrowers list loan requests between $2,000 and $25,000, and individual lenders invest as little as $25 in each loan listing they select. Over the past six years, more than $400,000,000 in personal loans have originated through the Prosper platform. The unsecured personal loans are used by Prosper borrowers for a variety of purposes including paying down high interest rate debt and helping with small business funding. Prosper has raised $80.9 million in venture capital and is backed by financial and technology luminaries including Accel Partners; Larry Cheng of Volition Capital; David Silverman of Crosslink Capital; Court Coursey of TommorrowVentures; Timothy Draper of Draper Fisher Jurvetson; Capital One Co-founder Nigel Morris of QED Investors; Eric Schwartz; CompuCredit; DAG Ventures; Mertiech Capital; Omidyar Network.