Leading Peer-to-Peer Lending Company Prosper Marketplace Expands with New Office in Phoenix

 

PHOENIX (May 30, 2014) – Prosper Marketplace, America’s fastest growing peer-to-peer lending company, today announced the opening of a new office in Phoenix – the first office outside the company’s San Francisco headquarters. The Prosper platform connects people who want to borrow money with people who want to invest money, offering an alternative to traditional banking institutions.

“The Prosper platform has grown more than 400% over the past year, and we expect continued growth in 2014. Prosper Marketplace is excited to open a new office in Phoenix to support our growth, and we are looking forward to being part of the local business community,” said Josh Tonderys, Chief Risk Officer, Prosper Marketplace.

Located minutes from Phoenix Sky Harbor International Airport, the Prosper Marketplace’s Phoenix location is currently recruiting, with plans to expand to 40 employees in its first year. The office will eventually employ about 150 people.

“It’s great to see fast-growing companies like Prosper Marketplace choose Phoenix to open up shop and create new jobs,” said Phoenix Mayor Greg Stanton. “I’m excited they’ll be a part of our community.”

“Prosper’s unique financing platform strengthens the nation’s small business lending environment by creating opportunities for investors to connect with early-stage companies,” said Sandra Watson, president and CEO, Arizona Commerce Authority. “We thank Prosper for expanding in Phoenix and broadening access to capital for Arizona’s entrepreneurial and startup communities.”

“We are encouraged by the expansion of companies like Prosper Marketplace,” said Barry Broome, president and CEO of the Greater Phoenix Economic Council. “The new jobs that will be available at the Phoenix office show a transformative shift from traditional back office jobs, providing exciting new opportunities for the existing technical talent in the region.”

Prosper Marketplace used commercial real estate firm Cushman & Wakefield to assist in its site search to expand its operations. Larry Downey, Vice Chairman for Cushman & Wakefield of Arizona, said “they initially toured over 20 locations and buildings. Airport Center gave Prosper Marketplace a very central location within the city and great access to the transportation corridors and freeways.” He continued, “this is a great building that gives them the flexibility and room to expand and grow.”

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Media Contacts:

Prosper Marketplace:  Sarah Cain, 415-378-0775 or scain2@prosper.com

City of Phoenix:  Jill Buschbacher, (602) 495-5329 or jill.buschbacher@phoenix.gov   

ACA:  Joseph Valdez, (602) 845-1234 or josephv@azcommerce.com

GPEC:  Michelle Kauk, (602) 262-8602 or mkauk@gpec.org

 

About Prosper

Prosper Funding LLC (“Prosper”) owns a leading peer-to-peer financing platform to invest and borrow money (the " platform"). The Prosper platform connects people who want to invest money with people who want to borrow money. On the Prosper platform, borrowers list loan requests between $2,000 and $35,000, and individual and institutional lenders invest as little as $25 in each loan listing they select. Institutional investors can also elect to participate in the Whole Loan Program. Over the past six years, more than one billion dollars 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. Learn more at www.prosper.com.  Prosper Marketplace, Inc. is the parent company of Prosper Funding LLC.

 

About the City of Phoenix

Phoenix is Arizona’s capitol and the sixth largest city in the United States, with more than 1.4 million residents and growing. The city takes up more than 500 square miles. The city’s Community and Economic Development Department works with highly successful businesses of all sizes to locate, expand and become even more successful in Phoenix. For more information, visit phoenix.gov.

 

About the Arizona Commerce Authority

The Arizona Commerce Authority (ACA) is the state’s leading economic development organization with a streamlined mission to grow and strengthen Arizona’s economy. The ACA uses a three-pronged approach to advance the overall economy: recruit, grow, create – recruit out-of-state companies to expand their operations in Arizona; work with existing companies to grow their business in Arizona and beyond; and partner with entrepreneurs and companies large and small to create new jobs and businesses in targeted industries. Visit azcommerce.com for more information.

 

About the Greater Phoenix Economic Council (GPEC)

A true public/private partnership, GPEC is the regional economic development organization for Greater Phoenix. Working with its 23 member communities, Maricopa County and more than 170 private investors, GPEC attracts quality businesses to this dynamic region. By creating a high-performance economy through capital investments and jobs, Greater Phoenix companies enjoy a business climate where they can compete and thrive in today's global economy. Since 1989, GPEC has worked to achieve an economically sound and sustainable region. For more information, visit www.gpec.org.

 

About Cushman & Wakefield

Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and management assignments. Founded in 1917, it has approximately 250 offices in 60 countries, employing more than 16,000 professionals. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has nearly $4 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.