SAN FRANCISCO – June 10, 2014 – Prosper, a leading online marketplace for consumer credit, today announced Capital One Co-Founder Nigel W. Morris has joined the board of directors of its parent company, Prosper Marketplace. The announcement follows the largest month ever for the Prosper platform, with $124 million in loans originated in May.
“Online marketplaces have transformed many of our everyday experiences, and Prosper is transforming the financial industry by creating an online marketplace for credit,” said Morris. “The growth and momentum at Prosper over the past year has been absolutely stellar and I’m thrilled to be able to contribute my own experience to the company.”
“There are few people with as keen an insight into the trends and technologies that affect the world of credit as Nigel,” said Aaron Vermut, CEO, Prosper Marketplace. “His extensive experience building one of the premier names in financial services instantly makes him a key member of our team.”
Morris is currently the managing partner of QED Investors, a venture capital fund focused on high-growth companies that leverage the power of data strategies. In 1994, Morris co-founded Capital One Financial Services. Over the course of his ten-year tenure as President and Chief Operating Officer, Capital One pioneered an information-based strategy that fundamentally transformed the consumer lending industry. A Fortune 500 company, Capital One is now one of the most widely recognized brands in America.
Prosper Funding LLC (“Prosper”), headquartered in San Francisco, is a leading online marketplace for consumer credit. Prosper 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, and none of the lengthy applications or wait times associated with traditional avenues, Prosper offers people a superior way to borrow money at fair rates. Over the past six years, more than $1 billion in personal loans has originated through the Prosper platform, helping people around the U.S. consolidate credit card debt and finance major purchases. Learn more about borrowing and investing through Prosper at www.prosper.com. Prosper Marketplace, Inc., founded in 2006, is the parent company of Prosper Funding LLC.