Breaking News
Prosper Announces New $500 Million Forward Flow Agreement with Fortress and Edge Focus to Expand Its Personal Loan Marketplace
Prosper Marketplace, the first peer-to-peer lending platform in the United States, today announced a $500 million forward flow agreement led by funds managed by affiliates of Fortress Investment Group (“Fortress”) alongside Edge Focus. The $500 million forward flow purchase agreement will help Prosper increase access to credit as more borrowers seek a personal loan to refinance high-interest rate credit card debt, for home improvements, or to make a major purchase.
“Since 2005, Prosper has helped more than 2 million Americans achieve their dreams with access to personal loans*, credit cards, home equity lines of credit, and home equity loans. Our partnership with Fortress and Edge Focus furthers our ability to pursue our mission and vision,” said Usama Ashraf, President & Chief Financial Officer of Prosper. “We are excited to work with such thoughtful and creative long-term partners.”
Under the forward flow agreement Fortress and Edge Focus have agreed to purchase a fixed portion of unsecured personal loans originated through Prosper’s platform, up to an aggregate of $500 million.
Bart Stankiewicz, Managing Director in Asset-Based Credit at Fortress, adds: “Prosper’s long history of providing borrowers with access to a variety of lending products gives the company significant insights with which to make prudent underwriting decisions. By bringing together these insights with the know-how of our partners at Edge Focus and our own 20+ years of consumer finance experience, we’ve been able to structure an agreement that enhances borrowers’ access to financing while creating a compelling investment opportunity for our investors.”
“Our joint venture with Fortress creates win-win-win opportunities—expanding Prosper’s ability to responsibly serve more borrowers, delivering attractive returns to the JV investors, and providing borrowers with access to affordable financial solutions. We are grateful to work alongside such proactive and strategic partners,” said Kevin Hennessy, Chief Investment Officer of Edge Focus.
People In This Post
- New Partnership Introduces First-of-its-Kind Model To Democratise Olympic Sailing Read more
- Offa Outpaces High Street Banks on Speed With Islamic Mortgage Launch Read more
- Bluefin and Basis Theory Partner to Enable Unified Tokenization Across Digital and In-Person Payments Read more
- Invest Bank and AUTON8 Build Partnership to Drive Digital Resilience and Banking Agility Read more
- ING’s AI Roadmap: Platform, People, and Agentic AI Read more
DailyPay Upsizes Secured Credit Facility to $960 Million
DailyPay announced the closing of a $200 million upsizing of its secured credit facility, increasing total committed capacity to $960 million
Neobank Rizon Raises $2M Pre-seed Round as Global Demand for Dollar Banking Services Rises
Delaware-based neobank Rizon has raised a $2M pre-seed round as more people rely on global USD accounts for earnings, payments, and everyday spending. The investment comes from Market One Capital, a Polish venture capital firm focused on early-stage startups. The funding will be used to scale Rizon’s user base worldwide.
Day Air Credit Union Announces Strategic Partnership with InvestiFi to Streamline Digital Investing
Day Air Credit Union has partnered with InvestiFi, the provider of the leading InvestTech platform that enables Credit Union members to trade from deposit accounts. The platform will deliver guided digital investing solutions to the credit union's 54,000 members.
Brickflow Delivers Over £29m of Funding for in Record Two-week Period
Brickflow has recorded its strongest two-week performance to date in January, with £29.22m of completed lending supporting 157 residential and mixed-use units across the UK, underlining the platform’s growing role in delivering funding for housing and property projects.
Uptiq Raises $25 Million Series B to Scale Industry-Ready AI Solutions and Launch Qore for Builders
Uptiq, the AI platform purpose-built for financial services, today announced it has raised $25 million in Series B funding from a group of leading strategic and financial investors across banking, fintech, and enterprise software. The round was led by Curql, with participation from Silverton Partners, 645 Ventures, Broadridge, Green Visor Capital, Live Oak Ventures, First Capital, Epic Ventures, Tau Ventures, and Evolution VC.
Bracket Secures $7m to Scale Treasury Intelligence Platform
Bracket, a leading FX, treasury and cash management platform for mid-market businesses, has raised $7 million in Seed funding. The round was led by Macquarie Group’s Commodities and Global Markets business and Blackfinch Ventures, with participation from existing investor Failup Ventures.
Tembo Raises £16m to Help More First-Time Buyers Get Onto the Property Ladder
Tembo, the award-winning digital savings and mortgage platform, has raised £16 million in growth investment to help tackle the homeownership affordability crisis
New Partnership Introduces First-of-its-Kind Model To Democratise Olympic Sailing
Sporta, the new financial home for UK sport, today announced a pioneering partnership with Performance Sailcraft and Magic
Offa Outpaces High Street Banks on Speed With Islamic Mortgage Launch
Offa has today launched a high street bank-beating Home Purchase Plan (HPP), the Islamic equivalent of a conventional residential mortgage
Bluefin and Basis Theory Partner to Enable Unified Tokenization Across Digital and In-Person Payments
Bluefin, the global leader in payment and data security infrastructure and PCI-validated point-to-point encryption (P2PE), today announced a strategic partnership with Basis Theory, a modern, API-driven tokenization and vaulting platform. Together, the companies enable enterprises to implement a unified token strategy across in-store, call center, online, and backend payment environments without expanding PCI scope or introducing new integration complexity.
Invest Bank and AUTON8 Build Partnership to Drive Digital Resilience and Banking Agility
Invest Bank today announced the successful outcomes of its strategic partnership with AUTON8, a global leader in intelligent automation. The collaboration marks a milestone in strengthening regulatory resilience, operational efficiency, and customer-centric agility across both core and digital banking landscapes.
ING’s AI Roadmap: Platform, People, and Agentic AI
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
UK-fintech Provided Over £17.5m in Emergency Wage Advances to More Than 55,000 Employees in the Last Year
PayCaptain, the world’s first B Corp-certified payroll solution, reports a landmark year of growth, with a 73% increase in new customers for 2025 and an average of 70% YoY revenue growth in the last two years. As the cost-of-living crisis deepens, PayCaptain has provided financial agility for 55,000 employees across 260 forward-thinking brands including TGI Fridays, Dishoom, Roadchef, NEOM, Charlie Bigham’s and Monica Vinader dedicated to combining efficient payroll with tools to support the financial health of staff.
TreviPay Announces AI-Powered Growth Center to Help Enterprises Predict Buyer Behavior and Drive B2B Sales
TreviPay, a fully managed B2B payments platform, today announced the availability of the Growth Center, a set of capabilities within the TreviPay Client Portal to help identify buyer growth opportunities more strategically and build stronger, longer-lasting supplier relationships. With its advanced features, the new Growth Center enables businesses to explore buyer needs, spot trends and optimize key steps in the order-to-cash (O2C) process. Integrated into TreviPay’s global payments network, the customizable add-ons will help businesses use their O2C programs to deepen buyer relationships and drive lasting engagement.