Prosper, Revisited

Prosper, the online people-to-people lending marketplace co-founded by E-Loan co-founder Chris Larsen, has raised $40 million from investors such as Omidyar Network and Meritech. The online auction platform allows people to list and bid on loans up to $25,000. Prosper handles all loan administration tasks, including loan repayment and collections, on behalf of the matched borrowers and lenders.

Since launching in 2006, Prosper's membership has grown to over 330,000 individuals, and about $70 million in loans.