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.