Wednesday, April 29, 2009

Prosper Re-opens Marketplace

San Francisco-based Prosper, the online, person-to-person lending startup, has opened up lending again, the firm said Tuesday, after receiving regulatory approval from the California Department of Corporations. Prosper had suspended its activities since October, while it registered for approval from the Securities and Exchange Commissions. The firm said it is still looking for that approval, but said that California will allow institutional lenders and residents of California to offer Prosper loans. Borrowers can be located anywhere in the nation. Prosper is venture backed with approximately $40M from Accel Partners, Benchmark Capital, DAG Ventures, Fidelity Ventures, Meritech Capital, and Omidyar Network.