PHOENIX

Prosper Marketplace plans office in Phoenix

Samantha Bero
Special for The Republic | azcentral.com
  • San Francisco-based Prosper Marketplace plans to eventually hire 150 employees
  • The Phoenix office is the company's first expansion outside San Francisco
  • Phoenix officials traveled to California in 2013 to speak to companies about expanding to Phoenix

A new lending company will expand into Phoenix near Phoenix Sky Harbor International Airport and plans to eventually hire 150 employees.

Community

San Francisco-based Prosper Marketplace connects people who want to borrow money with people who want to invest money, offering an alternative to traditional banking institutions, according to a news release. The Phoenix office is the company's first expansion outside San Francisco.

Greater Phoenix Economic Council CEO Barry Broome, who heads the Valley's business-recruiting partnership, said his group formed a relationship with Prosper Marketplace during a visit to Silicon Valley.

Phoenix Mayor Greg Stanton and Broome traveled to San Jose and Silicon Valley in 2013 to speak to companies about their relocation or expansion plans and Phoenix's assets.

Broome said his group found that the company was interested in moving to Phoenix.

"It is a sign we are doing a good job in our digital economy," Broome said.

Last year, Prosper Marketplace grew "over 400 percent," according to the company.

Broome said Prosper Marketplace offers an online database where individual lenders can choose from people looking for funding for everything from small-business loans to money to cover wedding costs or home improvements.

Prosper Marketplace plans to hire 40 new employees within the first year, the release said.

"It's great to see fast-growing companies like Prosper Marketplace choose Phoenix to open up shop and create new jobs," Stanton said. "I'm excited they'll be a part of our community."

Larry Downey, vice chairman for real-estate firm Cushman and Wakefield of Arizona, said the company initially toured more than 20 locations and buildings.

"Airport Center gave Prosper Marketplace a very central location within the city and great access to the transportation corridors and freeways," he said.