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Banker Invests 1 Million US$ VC Money into Prosper

Nigel Morris, co-founder of Capital One, has invested 1 million US$ into Prosper.com via his venture capital company QED Investors.

The investment comes in form of a convertible promissory note for the amount of 1 million US$, which is due in one year and carries an interest rate of 15%. QED Investors may elect to convert the note into shares of Prosper’s preferred stock.

VC funding for Prosper now totals 41 million US$. Nigel Morris joins Prosper’s board of directors.

(via TechCrunch.com, sources press release & other)

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This entry was posted on Wednesday, November 11th, 2009 by wiseclerk at 5:00 am and is filed under Prosper, US. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “Banker Invests 1 Million US$ VC Money into Prosper”

  1. Aktuelle P2P Kredit Trends in den USA « P2P-Kredite.com Says:
    November 18th, 2009 at 4:31 am

    [...] Großteil der ursprünglichen VC Finanzierung von 40 Mio. US$ aufgebraucht. Trotz des kürzlichen Invests eines Bankers (1 Mio. US$), braucht Prosper bei dieser Burn-Rate schon in wenigen Monaten dringend eine [...]

  2. P2P Lending Company Prosper.com has High Q3 Loss « P2P-Banking.com Says:
    November 18th, 2009 at 5:00 am

    [...] and cash equivalents left from an initial VC funding of 40 million US$. Even accounting for the recent 1 million US$ investment of a banker, at the current burn rate will need new funding [...]