Lending Club and Prosper Cross $2 Billion in Total Loans

This morning Lending Club and Prosper crossed another major milestone. There have now been more than $2 billion in total loans issued by both companies. This comes just ten months after they crossed $1 billion.

As you can see from the above chart, which shows total loan volume since Prosper launched in February 2006, Lending Club has been the primary driver of growth in the last couple of years. The total loan volume issued since inception stands at $1,525 million at Lending Club and $477 million at Prosper translating to a 76% market share for Lending Club. If you look at the second billion by itself the difference is even more stark: Lending Club issued $869 million to Prosper’s $132 million.

With Lending Club’s rapid growth and early signs of a turnaround at Prosper (which I will be covering in my end of month post tomorrow) we may cross $3 billion here within six months. Wow.


  1. Jason Jones says

    That is a big accomplishment for LC and Prosper! If you add up all of the additional P2P platforms globally that reveal total originations, you get to a total of about $2.9 billion. I have a feeling that this number of going to rapidly accelerate.

    • says

      Completely agree Jason. The big three in the UK (Zopa, Ratesetter and Funding Circle) continue to break records and there is strong growth in other parts of the world as well. I think we will double that total within 12 months.

  2. says

    The only financial services product that I can think of with such fast growth is ETF’s. They have gone from nothing in 1993 to over $1.5 trillion in assets in 20 years. Of course, it is possible that p2p lending, particular if you expand the asset class to include all kinds of direct online lending (small business, real estate, student loans, etc.), will exceed even that rapid growth.


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