Prosper Marketplace Inc. announced yesterday that it has raised an additional $25 million in funding, bringing its total to about $120 million since it was founded in 2006.
This latest round of funding was led by Sequoia Capital, a longtime investor in Prosper, as well as BlackRock Inc, the world’s largest asset manager. A number of other investors made up the rest of the total.
Prosper loaned $32 million in August 2013 and has originated a total of $630 million of P2P loans over the company’s lifetime. The company was launched by E-loans founder Chris Larsen, who is no longer at Prosper.
Loans can run as small as $25 and go up to five figures. Investors that put up capital for the loans can expect a 9% return on their investment, according to Prosper.