Source: Prosper
Prosper, America's first people-to-people lending marketplace, and SBI Holdings, a holding company for SBI Group, the financial innovation leader of Japan, today announced an agreement to form a joint venture to facilitate the launch of Prosper in Japan and explore other Asian markets.
"As Prosper takes the first step toward expanding to Japan, we're confident SBI is the optimal partner to navigate the regulatory landscape and successfully launch and operate the Prosper marketplace in the region," said Chris Larsen, co-founder and Chief Executive Officer of Prosper.
"With over $79 million in funded loans and more than 380,000 members, Prosper is the leading person-to-person lending marketplace," said Hayato Kameta, incoming Chief Executive Officer of the joint venture. "SBI Group's experience and resources in both the Internet and financial sectors, combined with the vision and infrastructure of Prosper, makes this joint venture well positioned to develop and execute a business plan which meets the regulatory and business environment in Japan and other Asian countries."