June 27, 2011 08:00 ET

Investment Management Veteran Joseph Toms Joins

Former Lending Club Managing Director Joins as Chief Investment Officer to Advocate for and Drive Growth of Individual and Institutional Investor Base

SAN FRANCISCO, CA--(Marketwire - Jun 27, 2011) -, a social lending marketplace that brings together creditworthy borrowers with individual and institutional investors, today announced that Joseph Toms joins the company as Chief Investment Officer, effective June 27th. As CIO, Toms will be responsible for driving the strategic growth of Prosper's retail and institutional lender base. Toms was previously Managing Director for Lending Club Advisors, responsible for investment marketing, communications and sales.

"I am an ardent believer in the role that social lending will have in the American economy as more consumers -- borrowers and lenders alike -- take control of their financial future and as more institutional investors are attracted to this new fixed income opportunity," said Toms. "Prosper's experience has allowed it to develop the right foundation and infrastructure to lead the category and to advance social lending into a mainstream banking and investment platform. The Company's sophisticated, best-in-category risk performance model enables Prosper to deliver on the real promise of a social lending marketplace."

"As we continue to scale Prosper, Joe is a strategic and timely addition to the executive management team," said Chris Larsen, chief executive officer and co-founder of Prosper. "His more than 25 years of experience working with global institutional investors makes him the perfect candidate to serve as a strong advocate for our growing retail and institutional investor base. He joins James Alexander, our EVP of Investment Sales, as a key contributor to build social lending into a new way of banking and to create a mainstream asset class for investors seeking consistently strong returns."

Toms began his career at Fisher Investments where he was one of their original employees and Director of Research. He was also the founder and Managing Principal of Hilspen Capital Partners, served as a Director for various RAB Capital Funds (a publicly traded London hedge fund) and was President and CIO of Compass Global Investors.

Individual and institutional investors are embracing social lending as a compelling alternative investment with strong returns. Borrowers are increasingly turning to for debt consolidation, home improvement and small business-related loans. The Wall Street Journal recently named Prosper to "The Next Big Thing" list for 2011, which recognizes the 50 most promising venture-backed companies, selected from more than 10,600 U.S.-based companies.

To learn more about Prosper's lender returns, competitive personal loans and small business loans, please visit

About Prosper
Prosper Marketplace Inc., a social lending marketplace that brings together creditworthy borrowers with individual and institutional investors, allows people to invest in each other in a way that is financially and socially rewarding. Individual and institutional investors invest in minimum increments of $25 on loan listings they select. In addition to credit scores, ratings and histories, investors can consider borrowers' personal loan descriptions, endorsements from friends, and community affiliations. Prosper handles the servicing of the loan on behalf of the matched borrowers and investors.

Prosper was co-founded by Chris Larsen, co-founder of E-LOAN. Prosper has raised $74.85 million in venture capital and is backed by financial and technology luminaries including, Jim Breyer of Accel Partners; Tim Draper of Draper Fisher Jurvetson; Jerome Contro of Crosslink Capital, CompuCredit; Omidyar Network; Capital One Co-founder Nigel Morris of QED Investors; Court Coursey of TomorrowVentures; Larry Cheng of Volition Capital.
Notes offered by Prospectus.

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