Prosper Expands with $500 Million Forward Flow Agreement

Prosper Marketplace, the pioneering peer-to-peer lending platform in the United States, has announced a significant $500 million forward flow agreement. This deal is funded by affiliates of Fortress Investment Group, along with Edge Focus, with the aim of expanding Prosper's personal loan marketplace. The agreement will facilitate increased access to credit for borrowers who are looking to refinance high-interest credit card debt, commit to home improvements, or make significant purchases. Under this agreement, Fortress and Edge Focus will purchase a fixed amount of unsecured personal loans up to a total of $500 million. This venture underscores a shared vision among Prosper, Fortress, and Edge Focus, with the latter two leveraging over 20 years of consumer finance experience to create a robust investment opportunity. Prosper continues to innovate, having already impacted the lives of over 2 million Americans with various lending products, while Fortress manages $50 billion in assets. The partnership reflects a synergy in providing borrowers viable financial tools and investors attractive returns.