1.4.10 Safe to install
Prosper: Transforming Personal Finance Through Peer-to-Peer Investing
Prosper offers a user-friendly platform for individuals to invest in personal loans while providing borrowers with access to affordable credit, though its variable returns may concern some investors.
Welcome to Prosper Invest! Our new mobile experience was designed with valuable input from Prosper investors like you.
With our updated interface, you can effortlessly manage your portfolio from anywhere and at any time:
- Utilize our Auto Invest tool to easily set up, review, and adjust your target portfolio allocations.
- Manually invest by browsing through and selecting from individual loan listings.
- Add cash to your Prosper investment account in one-time, weekly, or monthly increments.
- Get a quick overview of the details for each Note you've invested in.
- Track your total gain/loss to date.
- Witness the impact of your investments on borrowers' lives across the country.
- Monitor the performance of your portfolio.
Please note that an active Prosper investor account is required to access this app.
About Prosper
Prosper was established in 2005 as the inaugural peer-to-peer lending marketplace in the United States. Through our platform, we have facilitated over $20 billion in loans to benefit over 1,000,000 people.
At Prosper, we empower individuals to invest in each other, providing financial and social rewards. Borrowers can conveniently apply online for fixed-rate, fixed-term loans ranging from $2,000 to $50,000. Investors, both individuals and institutions, have the opportunity to earn solid returns by investing in these loans.
To learn more or create a new Prosper investor account, please visit prosper.com/invest.
Overview
Prosper: Invest is a Freeware software in the category Business developed by Prosper Marketplace Inc..
The latest version of Prosper: Invest is 1.4.10, released on 02/03/2024. It was initially added to our database on 10/05/2023.
Prosper: Invest runs on the following operating systems: iOS.
Users of Prosper: Invest gave it a rating of 5 out of 5 stars.
Pros
- Easy-to-use interface for investing in loans
- Diversification of investment portfolio through peer-to-peer lending
- Ability to earn potentially higher returns compared to traditional savings accounts or investment options
- Transparent and straightforward fee structure
- Option to automate investments for hands-off approach
Cons
- Investment in loans carries inherent risk and possibility of default
- Returns are not guaranteed and can be impacted by economic conditions
- Impact of fees on overall investment returns
- Limited control over individual loan selection
FAQ
What is Prosper?
Prosper is a peer-to-peer lending platform that allows individuals to invest in personal loans.
How does Prosper work?
Prosper connects borrowers looking for personal loans with investors willing to fund those loans. Investors can select which loans to fund based on the borrower's credit profile and loan details.
Who can invest on Prosper?
Individuals who meet the eligibility criteria can invest on Prosper. There may be different requirements based on the investor's state of residence.
What are the potential returns on Prosper?
Investors on Prosper have the potential to earn returns through interest payments made by borrowers. The returns depend on the performance of the loans in which the investor has invested.
Is there a risk of losing money on Prosper?
Yes, investing in personal loans on Prosper carries risk, including the risk of borrower default. Investors should carefully consider their investment choices and diversify their portfolio to manage risk.
Are there any fees associated with investing on Prosper?
Prosper charges investors a service fee based on the outstanding principal of the loan. Additionally, there may be fees for certain investment services or features.
How can I get started with investing on Prosper?
To get started with investing on Prosper, individuals need to create an account, deposit funds, and then browse and select loans to invest in based on their investment goals and risk tolerance.
Is there a minimum investment amount on Prosper?
The minimum investment amount on Prosper varies depending on the loan listing. Investors can choose to invest as little as $25 in a single loan or spread their investment across multiple loans.
What kind of loans are available on Prosper?
Prosper offers unsecured personal loans to borrowers for various purposes, such as debt consolidation, home improvement, or major purchases. The loans have fixed terms and interest rates.
Is there a secondary market for selling Prosper investments?
Prosper operates a secondary market called Folio Investing where investors can sell their existing investments to other investors. However, liquidity and pricing may be influenced by market demand and supply.
Peter Salakani
I'm Peter, a software reviews author at UpdateStar and content specialist with a keen focus on usability and performance. With a background in both software development and content creation, I bring a unique perspective to evaluating and discussing general software topics. When I'm not reviewing software, I enjoy staying updated on the latest tech trends, experimenting with new applications, and finding innovative solutions to everyday tech challenges.
Latest Reviews by Peter Salakani
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