What’s the most efficient way to understand the growth of a company? Look at the data, of course!
P2P lending granddaddy, Prosper, recently published some facts and stats about its history, performance, and future plans. We dissected the key pieces:
- Prosper launched in 2006, and six years later, in 2012, the company had closed $150 million in loans.
- In 2014, Prosper closed $1.6 billion in loans, a record at that time, and brought in 3.5 times more loan volume than 2013.
- In Q1 2015, Prosper closed its largest quarter so far with $912 million in loan originations on the platform—an increase of almost 12x over two years before.
- This week, Prosper announced it has originated more than $4 billion in loans since its 2006 launch.
Graph source: Prosper blog (http://bit.ly/1JWswZO)
The industry is taking notice. So far this year, Prosper has been named one of Forbes Magazine’s Most Promising Companies of 2015, an AlwaysOn OnFinance Company of the Year, and was listed as a Global 250 Top Private Company.
In 2012, Prosper employed 85 people. The company now has 457+ employees and, in 2015 alone, has doubled the size of its engineering team.
Prosper debuted at the first Finovate event in 2007 in New York City. Check out the demo video below.