Prosper, a pioneer in consumer lending, has held talks to sound out potential buyers
The lender has, over the last few months, contemplated a sale and reached out to at least one prospective buyer directly, one of the people said.
Prosper Marketplace, a pioneer of the peer-to-peer lending industry, has been exploring a sale, according to people familiar with the process. The industry sprang up during the financial crisis and gave millions of consumers an alternative to high-cost credit card debt. Prosper and others, including larger competitor LendingClub, offer an installment loan online that many people use to pay down revolving debt.
During its roughly 12 years in business, Prosper has been through three management teams. After founder Chris Larsen left in 2012, the business was run by Stephan Vermut, and then his son Aaron, and Ron Suber. The trio came onboard in 2013 with backing from Silicon Valley heavyweight Sequoia. In 2015, that management team raised $165 million at a post-money valuation of $1.9 billion, according to Pitchbook.
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