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Prosper, the Online Lending Marketplace, Lands Giant $70 Million Investment

Jason Del Rey has been a business journalist for 15 years and has covered Amazon, Walmart, and the e-commerce industry for the last decade. He is a senior correspondent at Vox.

Private equity firm Francisco Partners has led a $70 million investment in Prosper Marketplace, an online site where individuals looking for loans are matched up with people interested in providing the funds for them. The investment marks the second giant one in recent weeks in a so-called peer-to-peer lending market; last month, the industry’s biggest company Lending Club raised $115 million in equity and debt to acquire Springstone Financial.

This article originally appeared on Recode.net.