Prosper, a peer-to-peer financing platform to invest and borrow money, has raised a $20 million round of financing from Sequoia Capital. All existing investors also participated in the round.
Prosper has raised $80.9 million in venture capital, till date. The company is backed by Accel Partners; Larry Cheng of Volition Capital; David Silverman of Crosslink Capital; Court Coursey of TommorrowVentures; Timothy Draper of Draper Fisher Jurvetson; Capital One co-founder Nigel Morris of QED Investors; Eric Schwartz; CompuCredit; DAG Ventures; Meritech Capital; and Omidyar Network.
Sequoia Capital partner Pat Grady will join the Prosper board of directors. The company is also appointing former founder and managing partner of Merlin Securities, Stephan Vermut, as CEO and member of the board of directors.