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AZ Tech Beat | May 24, 2019

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San Francisco’s Prosper Marketplace brings 150 jobs to Phoenix

San Francisco’s Prosper Marketplace brings 150 jobs to Phoenix
Carlene Reyes

Phoenix is gearing up to welcome the newest addition to its ever expanding tech community. Prosper Marketplace, a peer-to-peer lending company, will open a new office in the city, the first outside of its San Francisco headquarters.

Prosper is a community-based loans and lending banking platform that cuts out the middleman. It allows borrowers to post a loan amount with a description, and investors can take part if it meets their criteria. The program is similar to the smaller Arizona-born, eMoneyPool.

The company’s extension to the Valley was led by the Greater Phoenix Economic Council (GPEC), an econ development team focused on bringing quality businesses to the city.

“As this was Prosper Marketplace’s first office outside of their headquarters, we were able to showcase the talent within our region in comparison to other markets,” said GPEC President and CEO Barry Broome. “We provided Prosper Marketplace an overview of the Greater Phoenix region, which included an in-depth analysis of the workforce for the region and various job training and workforce development programs.”

The new office, which is near Phoenix Sky Harbor International Airport, is currently recruiting with plans to hire 40 employees in year one and will eventually employ 150 people.

Prosper Marketplace has recently experienced heavy expansion. According to the company’s Chief Risk Officer Josh Tonderys, in May, $120 million in loans were processed through the platform—an increase of 380 percent from one year ago.

“Phoenix is a thriving city with a talented work force to draw from, and we’re very excited to open an office here to support this growth,” he said.

 Read more coverage about companies relocating to AZ at AZTB. 

  • Live Long & Prosper

    Funny that Arizona residents are unable to invest in the Prosper platform due to legal restrictions designed by the AZ State Legislature to save us from ourselves!