Prosper.com, the world's largest peer-to-peer lending marketplace with over $205 million in loans, today announced that it has surpassed the one million member milestone.
"It's pretty incredible that one million people - a population greater than our headquarter City of San Francisco - have engaged with Prosper," said Chris Larsen, CEO and Co-founder of Prosper. "In 2006, when we first introduced peer-to-peer lending in the U.S., the concept was completely foreign to most Americans. Some had been exposed to the idea of microfinance in developing countries, but the notion of an Amazon or eBay for money was entirely brand new. Today, peer-to-peer lending has grown into more than an 'alternative way to get a loan' or an 'alternative investment class.' Peer-to-peer lending represents the future of consumer lending; and the tipping point into the mainstream is within reach."