Prosper Closes $495 Million Securitization Transaction

SAN FRANCISCO, May 25, 2017 – Prosper, a leading marketplace lending platform for consumer loans, today announced the closing of the first securitization from the Prosper Marketplace Issuance Trust, Series 2017-1, “PMIT 2017-1.”

Approximately $495 million of notes were issued, increasing from an initial $450 million.  Credit Suisse Securities (USA) LLC and Jefferies LLC served as joint bookrunners on the transaction, which was rated by Fitch Ratings, Inc. and Kroll Bond Rating Agency, Inc.

“We are very pleased with the execution of this transaction, which was not only upsized based on the strength of investor demand but also tightened considerably from initial price talk,” said Usama Ashraf, CFO, Prosper. “With 30 investors participating, the success of this deal gives us great momentum to build upon as we continue with planned quarterly securitizations.”

“As one of the underwriters and acting sponsor on this transaction, we were enthused to see such positive feedback and heavy interest from investors,” said Brian McGrath, Managing Director at Jefferies LLC. “It’s clear that there is growing interest in this asset class, and we look forward to the opportunity to work with Prosper to bring additional securitizations to the market.”

Prosper recently surpassed $9 billion in loans through its platform, with first quarter loan originations up 29 percent when compared to the fourth quarter of 2016.

About Prosper Marketplace

Prosper’s mission is to advance financial well-being. The company’s online lending platform connects people who want to borrow money with individuals and institutions that want to invest in consumer credit. Borrowers get access to affordable fixed-rate, fixed-term personal loans. Investors have the opportunity to earn attractive returns via a data-driven underwriting model. To date, over $9 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.

Prosper Marketplace, Inc. was founded in 2005 and is headquartered in San Francisco. The lending platform is owned by Prosper Funding LLC, a subsidiary of Prosper Marketplace. Loans originated through the Prosper marketplace are made by WebBank, member FDIC. Visit www.prosper.com and follow @Prosperloans to learn more. Prosper notes offered by Prospectus.

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