Prosper Marketplace 10-Q 12 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Aug. 10, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Entity File Number	333-225797-01
Entity Registrant Name	PROSPER MARKETPLACE, INC.
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001416265
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	73-1733867
Entity Address, Address Line One	221 Main Street
Entity Address, Address Line Two	3rd Floor
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	593-5400
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		70,945,294
Prosper Funding LLC
Entity Information [Line Items]
Entity File Number	333-225797
Entity Registrant Name	PROSPER FUNDING LLC
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001542574
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-4526070
Entity Address, Address Line One	221 Main Street
Entity Address, Address Line Two	3rd Floor
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	593-5400
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020
Assets:
Cash and Cash Equivalents		$ 56,018	$ 50,145
Restricted Cash	[1]	205,377	163,723
Accounts Receivable	[1]	1,088	605
Loans Held for Sale, at Fair Value	[1]	249,955	274,621
Borrower Loans, at Fair Value	[1]	338,939	378,263
Property and Equipment, Net		30,210	28,446
Prepaid and Other Assets	[1]	7,881	5,196
Servicing Assets		8,944	9,242
Goodwill		36,368	36,368
Intangible Assets, Net		414	500
Total Assets		935,194	947,109
Liabilities, Convertible Preferred Stock and Stockholders' Deficit:
Accounts Payable and Accrued Liabilities		20,328	17,876
Payable to Investors		174,387	124,094
Notes, at Fair Value		236,041	208,379
Notes Issued by Securitization Trust	[1]	94,811	156,782
Certificates Issued by Securitization Trust, at Fair Value	[1]	15,295	22,917
Warehouse Lines	[1]	219,467	242,479
Other Liabilities		25,236	25,057
Convertible Preferred Stock Warrant Liability		162,436	112,319
Total Liabilities		948,001	909,903
Commitments and Contingencies (Note 16)
Convertible Preferred Stock		322,748	322,748
Stockholders' Deficit:
Common Stock – $0.01 par value; 625,000,000 shares authorized; 71,829,765 shares issued and 70,893,830 shares outstanding, as of June 30, 2021; 70,075,307 shares issued and 69,139,372 shares outstanding, as of December 31, 2020.		233	215
Additional Paid-In Capital		156,615	155,952
Less: Treasury Stock		(23,417)	(23,417)
Accumulated Deficit		(466,605)	(415,911)
Total Stockholders' Deficit		(333,174)	(283,161)
Total Liabilities, Convertible Preferred Stock and Stockholders' Deficit		935,194	947,109
Prosper Funding LLC
Assets:
Cash and Cash Equivalents		6,854	8,592
Restricted Cash		181,598	132,332
Borrower Loans, at Fair Value		236,844	209,670
Property and Equipment, Net		8,788	6,928
Servicing Assets		10,389	11,088
Other Assets		312	217
Total Assets		444,785	368,827
Liabilities, Convertible Preferred Stock and Stockholders' Deficit:
Accounts Payable and Accrued Liabilities		2,913	2,361
Payable to Related Party		1,884	4,120
Payable to Investors		176,520	126,266
Notes, at Fair Value		236,041	208,379
Other Liabilities		2,439	2,613
Total Liabilities		419,797	343,739
Stockholders' Deficit:
Member's Equity		11,404	11,404
Accumulated Deficit		13,584	13,684
Total Stockholders' Deficit		24,988	25,088
Total Liabilities, Convertible Preferred Stock and Stockholders' Deficit		444,785	368,827
Primary Beneficiary
Assets:
Restricted Cash	[2]	20,942	25,203
Loans Held for Sale, at Fair Value	[2]	249,955	274,621
Borrower Loans, at Fair Value	[2]	102,095	168,593
Prepaid and Other Assets	[2]	3,309	2,043
Total Assets	[2]	376,301	470,460
Liabilities, Convertible Preferred Stock and Stockholders' Deficit:
Notes Issued by Securitization Trust	[2]	94,811	156,782
Certificates Issued by Securitization Trust, at Fair Value	[2]	15,295	22,917
Warehouse Lines	[2]	219,467	242,479
Total Liabilities	[2]	329,573	422,178
Convertible Preferred Stock		$ 2,381	$ 2,381
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.
[2]	The following table presents the assets and liabilities of consolidated variable interest entities (VIEs), which are included in the condensed consolidated balance sheets above. The assets in the table below may only be used to settle obligations of consolidated VIEs and are in excess of those obligations. Additionally, the assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. See Note 6, Securitizations, and Note 10, Debt, to our Notes to Condensed Consolidated Financial Statements for add itional

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Sep. 20, 2017
Convertible preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Convertible preferred stock, authorized (in shares)	444,760,848	444,760,848	444,760,848
Convertible preferred stock, issued (in shares)	209,613,570	209,613,570
Convertible preferred stock, outstanding (in shares)	209,613,570	209,613,570
Convertible preferred stock, aggregate liquidation preference	$ 370,456	$ 370,456
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, authorized (in shares)	625,000,000	625,000,000	625,000,000
Common stock, issued (in shares)	71,829,765	70,075,307
Common stock, outstanding (in shares)	70,893,830	69,139,372
Primary Beneficiary
Convertible preferred stock, issued (in shares)	51,247,915	51,247,915
Convertible preferred stock, outstanding (in shares)	51,247,915	51,247,915

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Operating Revenues:
Gain on Sale of Borrower Loans	$ 1,366,000	$ 617,000	$ 2,989,000	$ 2,361,000
Total Operating Revenues	26,798,000	17,244,000	53,192,000	46,470,000
Interest Income (Expense):
Interest Income on Borrower Loans and Loans Held for Sale	21,048,000	26,645,000	42,946,000	54,289,000
Interest Expense on Financial Instruments	(12,953,000)	(15,270,000)	(25,878,000)	(31,953,000)
Total Interest Income, Net	8,095,000	11,375,000	17,068,000	22,336,000
Change in Fair Value of Financial Instruments, Net	(159,000)	(2,362,000)	(2,410,000)	(39,304,000)
Total Net Revenue	34,734,000	26,257,000	67,850,000	29,502,000
Expenses:
Origination and Servicing	8,681,000	7,365,000	17,055,000	15,811,000
Sales and Marketing	7,904,000	5,022,000	15,626,000	16,264,000
General and Administrative	18,329,000	15,720,000	35,973,000	33,882,000
Impairment Expense	0	228,000	0	228,000
Change in Fair Value of Convertible Preferred Stock Warrants	5,686,000	(19,549,000)	50,117,000	(74,998,000)
Other Income, Net	(82,000)	(204,000)	(269,000)	(524,000)
Total Expenses	40,518,000	8,582,000	118,502,000	(9,337,000)
Net (Loss) Income Before Taxes	(5,784,000)	17,675,000	(50,652,000)	38,839,000
Income Tax Expense	(21,000)	(34,000)	(42,000)	(68,000)
Net (Loss) Income	(5,805,000)	17,641,000	(50,694,000)	38,771,000
Plus: Return on Share Purchase	0	0	0	0
Less: Net Income Allocated to Participating Securities	0	13,153,000	0	28,908,000
Net (Loss) Income Attributable to Common Stockholders, Basic	$ (5,805,000)	$ 4,488,000	$ (50,694,000)	$ 9,863,000
Net (Loss) Income Per Share - Basic (in dollars per share)	$ (0.08)	$ 0.07	$ (0.72)	$ 0.14
Net (Loss) Income Per Share - Diluted (in dollars per share)	$ (0.08)	$ 0.02	$ (0.72)	$ 0.03
Weighted-Average Shares - Basic (in shares)	70,868,080	68,455,641	70,110,288	68,454,872
Weighted-Average Shares - Diluted (in shares)	70,868,080	281,847,412	70,110,288	282,057,163
Prosper Funding LLC
Operating Revenues:
Gain on Sale of Borrower Loans	$ 1,663,000	$ 1,182,000	$ 3,674,000	$ 3,182,000
Total Operating Revenues	14,292,000	10,344,000	26,741,000	24,818,000
Interest Income (Expense):
Interest Income on Borrower Loans and Loans Held for Sale	8,999,000	9,309,000	17,556,000	19,147,000
Interest Expense on Financial Instruments	(8,418,000)	(8,728,000)	(16,431,000)	(17,944,000)
Total Interest Income, Net	581,000	581,000	1,125,000	1,203,000
Change in Fair Value of Financial Instruments, Net	384,000	194,000	156,000	257,000
Total Net Revenue	15,257,000	11,119,000	28,022,000	26,278,000
Expenses:
Administration Fee - Related Party	12,535,000	9,494,000	24,967,000	21,858,000
Servicing	1,486,000	1,137,000	2,899,000	2,330,000
General and Administrative	132,000	113,000	256,000	167,000
Total Expenses	14,153,000	10,744,000	28,122,000	24,355,000
Income Tax Expense	0	0	0	0
Net (Loss) Income	1,104,000	375,000	(100,000)	1,923,000
Administration Fee Revenue - Related Party | Prosper Funding LLC
Operating Revenues:
Revenues	8,395,000	3,740,000	15,181,000	9,575,000
Transaction Fees, Net
Operating Revenues:
Revenues	20,941,000	11,401,000	41,771,000	31,814,000
Servicing Fees, Net
Operating Revenues:
Revenues	3,553,000	4,660,000	6,967,000	10,717,000
Servicing Fees, Net | Prosper Funding LLC
Operating Revenues:
Revenues	3,928,000	5,257,000	7,529,000	11,716,000
Other Revenue
Operating Revenues:
Revenues	938,000	566,000	1,465,000	1,578,000
Other Revenue | Prosper Funding LLC
Operating Revenues:
Revenues	$ 306,000	$ 165,000	$ 357,000	$ 345,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Other Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net (Loss) Income	$ (5,805)	$ 17,641	$ (50,694)	$ 38,771
Other Comprehensive (Loss) Income, Before Tax:
Other Comprehensive (Loss) Income, Before Tax	0	0	0	0
Other Comprehensive (Loss) Income, Net of Tax:	0	0	0	0
Comprehensive (Loss) Income, Net of Tax	$ (5,805)	$ 17,641	$ (50,694)	$ 38,771

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Convertible Preferred Stock, Stockholders’ Deficit and Members' Equity (Unaudited) - USD ($) $ in Thousands	Total	Convertible Preferred Stock	Convertible Preferred Stock Held by Consolidated VIE	Common Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Deficit	Prosper Funding LLC	Prosper Funding LLCAccumulated Deficit	Prosper Funding LLCMember’s Equity
Beginning balance (in shares) at Dec. 31, 2019		209,613,570	0
Beginning balance at Dec. 31, 2019		$ 322,748	$ 0
Ending balance (in shares) at Mar. 31, 2020		209,613,570	0
Ending balance at Mar. 31, 2020		$ 322,748	$ 0
Beginning balance (in shares) at Dec. 31, 2019				73,629,136	(5,177,235)
Beginning balance at Dec. 31, 2019	$ (306,255)			$ 208	$ (23,417)	$ 151,416	$ (434,462)	$ 28,187	$ 12,283	$ 15,904
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				3,740
Exercise of vested stock options	1					1
Stock-based compensation expense	557					557
Net (Loss) Income	21,130						21,130	1,548	1,548
Ending balance (in shares) at Mar. 31, 2020				73,632,876	(5,177,235)
Ending balance at Mar. 31, 2020	(284,567)			$ 208	$ (23,417)	151,974	(413,332)	29,735	13,831	15,904
Beginning balance (in shares) at Dec. 31, 2019		209,613,570	0
Beginning balance at Dec. 31, 2019		$ 322,748	$ 0
Ending balance (in shares) at Jun. 30, 2020		209,613,570	0
Ending balance at Jun. 30, 2020		$ 322,748	$ 0
Beginning balance (in shares) at Dec. 31, 2019				73,629,136	(5,177,235)
Beginning balance at Dec. 31, 2019	(306,255)			$ 208	$ (23,417)	151,416	(434,462)	28,187	12,283	15,904
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				3,740
Exercise of vested stock options	1			$ 0		1
Stock-based compensation expense	1,011					1,011
Distribution To Parent								(4,500)		(4,500)
Net (Loss) Income	38,771						38,771	1,923	1,923
Ending balance (in shares) at Jun. 30, 2020				73,632,876	(5,177,235)
Ending balance at Jun. 30, 2020	(266,472)			$ 208	$ (23,417)	152,428	(395,691)	25,610	14,206	11,404
Beginning balance (in shares) at Mar. 31, 2020		209,613,570	0
Beginning balance at Mar. 31, 2020		$ 322,748	$ 0
Ending balance (in shares) at Jun. 30, 2020		209,613,570	0
Ending balance at Jun. 30, 2020		$ 322,748	$ 0
Beginning balance (in shares) at Mar. 31, 2020				73,632,876	(5,177,235)
Beginning balance at Mar. 31, 2020	(284,567)			$ 208	$ (23,417)	151,974	(413,332)	29,735	13,831	15,904
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	454					454
Distribution To Parent								(4,500)		(4,500)
Net (Loss) Income	17,641						17,641	375	375
Ending balance (in shares) at Jun. 30, 2020				73,632,876	(5,177,235)
Ending balance at Jun. 30, 2020	$ (266,472)			$ 208	$ (23,417)	152,428	(395,691)	25,610	14,206	11,404
Beginning balance (in shares) at Dec. 31, 2020	209,613,570	209,613,570	(51,247,915)
Beginning balance at Dec. 31, 2020	$ 322,748	$ 322,748	$ (2,381)
Ending balance (in shares) at Mar. 31, 2021		209,613,570	(51,247,915)
Ending balance at Mar. 31, 2021		$ 322,748	$ (2,381)
Beginning balance (in shares) at Dec. 31, 2020				74,316,607	(5,177,235)
Beginning balance at Dec. 31, 2020	(283,161)			$ 215	$ (23,417)	155,952	(415,911)	25,088	13,684	11,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				1,624,461
Exercise of vested stock options	34			$ 17		17
Stock-based compensation expense	353					353
Net (Loss) Income	(44,889)						(44,889)	(1,204)	(1,204)
Ending balance (in shares) at Mar. 31, 2021				75,941,068	(5,177,235)
Ending balance at Mar. 31, 2021	$ (327,663)			$ 232	$ (23,417)	156,322	(460,800)	23,884	12,480	11,404
Beginning balance (in shares) at Dec. 31, 2020	209,613,570	209,613,570	(51,247,915)
Beginning balance at Dec. 31, 2020	$ 322,748	$ 322,748	$ (2,381)
Ending balance (in shares) at Jun. 30, 2021	209,613,570	209,613,570	(51,247,915)
Ending balance at Jun. 30, 2021	$ 322,748	$ 322,748	$ (2,381)
Beginning balance (in shares) at Dec. 31, 2020				74,316,607	(5,177,235)
Beginning balance at Dec. 31, 2020	(283,161)			$ 215	$ (23,417)	155,952	(415,911)	25,088	13,684	11,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				1,754,458
Exercise of vested stock options	36			$ 18		18
Stock-based compensation expense	645					645
Net (Loss) Income	(50,694)						(50,694)	(100)	(100)
Ending balance (in shares) at Jun. 30, 2021				76,071,065	(5,177,235)
Ending balance at Jun. 30, 2021	$ (333,174)			$ 233	$ (23,417)	156,615	(466,605)	24,988	13,584	11,404
Beginning balance (in shares) at Mar. 31, 2021		209,613,570	(51,247,915)
Beginning balance at Mar. 31, 2021		$ 322,748	$ (2,381)
Ending balance (in shares) at Jun. 30, 2021	209,613,570	209,613,570	(51,247,915)
Ending balance at Jun. 30, 2021	$ 322,748	$ 322,748	$ (2,381)
Beginning balance (in shares) at Mar. 31, 2021				75,941,068	(5,177,235)
Beginning balance at Mar. 31, 2021	(327,663)			$ 232	$ (23,417)	156,322	(460,800)	23,884	12,480	11,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				129,997
Exercise of vested stock options	2			$ 1		1
Stock-based compensation expense	292					292
Net (Loss) Income	(5,805)						(5,805)	1,104	1,104
Ending balance (in shares) at Jun. 30, 2021				76,071,065	(5,177,235)
Ending balance at Jun. 30, 2021	$ (333,174)			$ 233	$ (23,417)	$ 156,615	$ (466,605)	$ 24,988	$ 13,584	$ 11,404

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2021		Jun. 30, 2020
Cash flows from Operating Activities:
Net (Loss) Income	$ (50,694,000)		$ 38,771,000
Adjustments to Reconcile Net (Loss) Income to Net Cash Provided by (Used in) Operating Activities:
Change in Fair Value of Financial Instruments, Net	2,410,000		39,300,000
Depreciation and Amortization	4,642,000		4,041,000
Amortization of Operating Lease Right-of-use Asset	1,818,000		1,752,000
Impairment of Operating Lease Right-of-use Asset	0		228,000
Gain on Sales of Borrower Loans	(3,778,000)		(2,703,000)
Change in Fair Value of Servicing Rights	4,077,000		5,232,000
Stock-Based Compensation Expense	587,000		897,000
Change in Fair Value of Convertible Preferred Stock Warrants	50,117,000		(74,998,000)
Other, Net	1,606,000		264,000
Changes in Operating Assets and Liabilities:
Purchase of Loans Held for Sale at Fair Value	(792,674,000)		(622,122,000)
Proceeds from Sales and Principal Payments of Loans Held for Sale at Fair Value	836,302,000		568,402,000
Accounts Receivable	(483,000)		648,000
Prepaid and Other Assets	(972,000)		(834,000)
Accounts Payable and Accrued Liabilities	2,251,000		(7,599,000)
Payable to Investors	50,293,000		1,313,000
Other Liabilities	(2,238,000)		(2,804,000)
Net Cash Provided by (Used in) Operating Activities	103,264,000		(50,212,000)
Cash Flows from Investing Activities:
Purchase of Borrower Loans Held at Fair Value	(107,609,000)		(65,664,000)
Proceeds from Sales and Principal Payments of Borrower Loans Held at Fair Value	128,192,000		150,262,000
Purchases of Property and Equipment	(5,486,000)		(5,286,000)
Net Cash Provided by (Used in) Investing Activities	15,097,000		79,312,000
Cash Flows from Financing Activities:
Proceeds from Issuance of Notes Held at Fair Value	108,203,000		65,043,000
Payments of Notes Held at Fair Value	(81,042,000)		(77,107,000)
Principal Payments on Notes Issued by Securitization Trust	(62,448,000)		(113,423,000)
Principal Payments on Certificates Issued by Securitization Trust	(10,893,000)		(9,875,000)
Proceeds from Warehouse Lines	36,950,000		73,299,000
Principal Payments on Warehouse Lines	(59,900,000)		(6,000,000)
Proceeds from Paycheck Protection Program Loan	0		8,447,000
Payments of Debt Issuance Costs	(1,740,000)		0
Proceeds from Exercise of Stock Options	36,000		1,000
Net Cash Used in Financing Activities	(70,834,000)		(59,615,000)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	47,527,000		(30,515,000)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	213,868,000		220,408,000
Cash, Cash Equivalents and Restricted Cash at End of the Period	261,395,000		189,893,000
Supplemental Disclosure of Cash Flow Information:
Cash Paid for Interest	25,315,000		30,522,000
Non-Cash Investing Activity- Accrual for Property and Equipment, Net	1,034,000		413,000
Reconciliation to Amounts on Consolidated Balance Sheets:
Cash and Cash Equivalents	56,018,000		46,575,000
Restricted Cash	205,377,000	[1]	143,318,000
Total Cash, Cash Equivalents and Restricted Cash	261,395,000		189,893,000
Prosper Funding LLC
Cash flows from Operating Activities:
Net (Loss) Income	(100,000)		1,923,000
Adjustments to Reconcile Net (Loss) Income to Net Cash Provided by (Used in) Operating Activities:
Change in Fair Value of Financial Instruments, Net	(156,000)		(258,000)
Other Non-Cash Changes in Borrower Loans, Loans Held for Sale and Notes	(11,000)		4,000
Depreciation and Amortization	2,265,000		2,051,000
Gain on Sales of Borrower Loans	(4,375,000)		(3,402,000)
Change in Fair Value of Servicing Rights	5,074,000		6,227,000
Changes in Operating Assets and Liabilities:
Purchase of Loans Held for Sale at Fair Value	(792,674,000)		(622,122,000)
Proceeds from Sales and Principal Payments of Loans Held for Sale at Fair Value	792,674,000		622,122,000
Other Assets	(95,000)		102,000
Accounts Payable and Accrued Liabilities	552,000		387,000
Payable to Investors	50,254,000		304,000
Net Related Party Receivable/Payable	(2,212,000)		3,419,000
Other Liabilities	(174,000)		(820,000)
Net Cash Provided by (Used in) Operating Activities	51,022,000		9,937,000
Cash Flows from Investing Activities:
Purchase of Borrower Loans Held at Fair Value	(107,609,000)		(65,664,000)
Proceeds from Sales and Principal Payments of Borrower Loans Held at Fair Value	81,103,000		77,160,000
Purchases of Property and Equipment	(4,149,000)		(1,269,000)
Net Cash Provided by (Used in) Investing Activities	(30,655,000)		10,227,000
Cash Flows from Financing Activities:
Proceeds from Issuance of Notes Held at Fair Value	108,203,000		65,043,000
Payments of Notes Held at Fair Value	(81,042,000)		(77,108,000)
Net Cash Used in Financing Activities	27,161,000		(16,565,000)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	47,528,000		3,599,000
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	140,924,000		117,861,000
Cash, Cash Equivalents and Restricted Cash at End of the Period	188,452,000		121,460,000
Supplemental Disclosure of Cash Flow Information:
Cash Paid for Interest	16,650,000		17,700,000
Non-Cash Investing Activity- Accrual for Property and Equipment, Net	480,000		1,331,000
Reconciliation to Amounts on Consolidated Balance Sheets:
Cash and Cash Equivalents	6,854,000		7,813,000
Restricted Cash	181,598,000		113,647,000
Total Cash, Cash Equivalents and Restricted Cash	$ 188,452,000		$ 121,460,000
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
BASIS OF PRESENTATION	Basis of Presentation Prosper Marketplace, Inc. (“PMI”) was incorporated in the state of Delaware on March 22, 2005. Except as the context requires otherwise, as used in these notes to the condensed consolidated financial statements of PMI, “Prosper,” “we,” “us,” and “our” refer to PMI and its wholly-owned subsidiaries, on a consolidated basis. The unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and disclosure requirements for interim financial information and the requirements of Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. The unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2020. The balance sheet at December 31, 2020 has been derived from the audited financial statements at that date. Management believes these unaudited interim condensed consolidated financial statements reflect all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the results for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. The preparation of Prosper’s condensed consolidated financial statements and related disclosures in conformity with US GAAP requires management to make judgments, assumptions and estimates that affect the amounts reported in Prosper’s financial statements and accompanying notes. Management bases its estimates on historical experience and on various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of certain assets and liabilities. These judgments, estimates and assumptions are inherently subjective in nature and actual results may differ from these estimates and assumptions. The accompanying interim condensed consolidated financial statements include the accounts of PMI, its wholly-owned subsidiaries and consolidated variable interest entities (“VIEs”). All intercompany balances have been eliminated in consolidation. Securitization Notes are notes held by certain third-party investors pursuant to Prosper’s securitization transactions, and are distinguishable from the borrower payment dependent Notes available to investors through our Note Channel.
Prosper Funding LLC
Entity Information [Line Items]
BASIS OF PRESENTATION	Basis of Presentation Prosper Funding LLC (“PFL”) was formed in the state of Delaware in February 2012 as a limited liability company with Prosper Marketplace, Inc. (“PMI”) as its sole equity member. Except as the context otherwise requires, as used in these Notes to the condensed consolidated financial statements of Prosper Funding LLC, “PFL”, and the “Company” refers to Prosper Funding LLC and its wholly owned subsidiary, Prosper Depositor LLC, a Delaware limited liability company, on a consolidated basis. The unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) and disclosure requirements for interim financial information and the requirements of Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. The unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2020. The balance sheet at December 31, 2020 has been derived from the audited financial statements at that date. Management believes these unaudited interim condensed consolidated financial statements reflect all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the results for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. PFL did not have any items of other comprehensive income or loss for any of the periods presented in the condensed consolidated financial statements as of and for the six months ended June 30, 2021 and June 30, 2020. The preparation of PFL's condensed consolidated financial statements and related disclosures in conformity with US GAAP requires management to make judgments, assumptions and estimates that affect the amounts reported in its condensed consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and on various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of certain assets and liabilities. These judgments, estimates and assumptions are inherently subjective in nature and actual results may differ from these estimates and assumptions, and the differences could be material.

SUMMARY OF SIGNIFICANT ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNT POLICIES	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
SUMMARY OF SIGNIFICANT ACCOUNT POLICIES	Summary of Significant Accounting Policies Prosper’s significant accounting policies are included in Note 2, Summary of Significant Accounting Policies, in Prosper’s Annual Report on Form 10-K for the year ended December 31, 2020. There have been no changes to these accounting policies during the first six months of 2021. Fair Value Measurements Financial instruments measured at fair value consist principally of Borrower Loans, Loans Held for Sale, Servicing Assets, Loan Trailing Fee Liabilities (Note 9), Notes, Certificates Issued by Securitization Trust and Convertible Preferred Stock Warrant Liability. The estimated fair values of other financial instruments, including Cash and Cash Equivalents, Restricted Cash, Accounts Receivable, Accounts Payable and Accrued Liabilities, and Payable to Investors approximate their carrying values because of their short-term nature. The estimated fair values of the Paycheck Protection Program loan (Note 9 and 10), Notes Issued by Securitization Trust and Warehouse Lines do not approximate their carrying values due primarily to differences in the stated and market rates associated with these instruments. Refer to Note 7, Fair Value of Assets and Liabilities, for additional fair value disclosures. Restricted Cash Restricted Cash consists primarily of cash deposits, money market funds and short-term certificate of deposit accounts held as collateral as required for long term leases, loan funding and servicing activities, and cash that investors have on our marketplace that has not yet been invested in Borrower Loans or disbursed to the investor. Borrower Loans, Loans Held for Sale, Notes and Certificates Issued by Securitization Trust Borrower Loans are funded either through the Note Channel or through the Whole Loan Channel. Through the Note Channel, Prosper purchases Borrower Loans from WebBank, then issues Notes and holds the Borrower Loans until maturity. The obligation to repay a series of Notes issued through the Note Channel is dependent upon the repayment of the associated Borrower Loan. Borrower Loans funded and Notes issued through the Note Channel are carried on Prosper’s condensed consolidated balance sheets as assets and liabilities, respectively. In 2019, Prosper began refinancing the purchase of Borrower Loans through the Whole Loan Channel through securitization transactions, which issue senior notes, risk retention interests and residual certificates. Associated securitization trusts are deemed consolidated VIEs, and as a result the Borrower Loans held in the securitization trusts are included in “Borrower Loans, at Fair Value”. Senior notes sold to third party investors are included in “Notes Issued by Securitization Trust,” and the risk retention interest and residual certificates held by third party investors are included in “Certificates Issued by Securitization Trust, at Fair Value” on the accompanying condensed consolidated balance sheets. Refer to Note 6, Securitization for additional disclosures. Prosper uses Warehouse Lines to purchase Loans Held for Sale that may be subsequently contributed to securitization transactions or sold to investors. Loans Held for Sale are included in “Loans Held for Sale, at Fair Value” on the Consolidated Balance Sheets. See Note 10, Debt for more details on Warehouse Lines. Borrower Loans and Loans Held for Sale are purchased from WebBank. Prosper places Borrower Loans and Loans Held for Sale on non-accrual status when they are 120 days past due. When a loan is placed on non-accrual status, Prosper stops accruing interest and reverses all accrued but unpaid interest as of such date. Additionally, Prosper charges-off Borrower Loans and Loans Held for Sale when they are 120 days past due. The fair value of loans 120 or more days past due generally consists of the expected recovery from debt sales in subsequent periods. Prosper has elected the fair value option for Borrower Loans, Loans Held for Sale, Notes, and Certificates Issued by Securitization Trust. Changes in fair value of Borrower Loans funded through the Note Channel are largely offset by the changes in fair value of Notes due to the borrower payment-dependent design of the Notes. Changes in fair value of Borrower Loans held in consolidated securitization trusts are partially offset by changes in fair value of the Certificates Issued by Securitization Trust. Changes in fair value of Loans Held for Sale are recorded through Proper's earnings and Prosper collects interest on Loans Held for Sale. Changes in the fair values of Borrower Loans, Loans Held for Sale, Notes, and Certificates Issued by Securitization Trust are included in “Change in Fair Value of Financial Instruments, Net” on the Consolidated Statements of Operations. Prosper primarily uses a discounted cash flow model to estimate the fair value of Borrower Loans, Loans Held for Sale, Notes, and Certificates Issued by Securitization Trust. The key assumptions used in the valuation include default rates and prepayment rates derived primarily from historical performance, and discount rates based on estimates of the rates of return that investors would require when investing in financial instruments with similar characteristics. Leases Management determines if an arrangement is a lease at inception. Operating lease right-of-use (“ROU”) assets and operating lease liabilities are included on the Consolidated Balance Sheets in Property and Equipment, Net and in Other Liabilities, respectively. For certain leases with original terms of twelve months or less, PMI recognizes the lease expense as incurred and does not record ROU assets and lease liabilities. If a contract contains a lease, management evaluates whether it should be classified as an operating or finance lease. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most of PMI's leases do not provide an implicit rate, management uses an incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The operating lease ROU assets are evaluated for impairment utilizing the same impairment model used for Property and Equipment. Consolidation of Variable Interest Entities The determination of whether to consolidate a VIE in which we have a variable interest requires a significant amount of analysis and judgment regarding whether we are the primary beneficiary of a VIE due to our holding a controlling financial interest in the VIE. A controlling financial interest in a VIE exists if we have both the power to direct the VIE’s activities that most significantly affect the VIE’s economic performance and a potentially significant economic interest in the VIE. The determination of whether an entity is a VIE considers factors, such as (i) whether the entity’s equity investment at risk is insufficient to allow the entity to finance its activities without additional subordinated financial support and (ii) whether a holder’s equity investment at risk lacks any of the following characteristics of a controlling financial interest: the direct or indirect ability through voting rights or similar rights to make decisions about a legal entity’s activities that have a significant effect on the entity’s success, the obligation to absorb the expected losses of the entity or the right to receive the expected residual returns of the legal entity. Management regularly reviews and reconsiders its previous conclusions regarding the status of an entity as a VIE and whether we are required to consolidate such VIE in the consolidated financial statements. Recent Accounting Pronouncements Accounting Standards Adopted by the Company in the Current Period In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This ASU simplifies the accounting for income taxes by removing certain exceptions related to the incremental approach for intraperiod tax allocation, the requirement to recognize or derecognize deferred tax liabilities related to equity method investments that are also foreign subsidiaries and the methodology for calculating income taxes in an interim period. The guidance also clarifies and simplifies other aspects of the accounting for income taxes, including a modification in the guidance for franchise taxes that are partially based on income and recognizing deferred taxes for a subsequent step-up in the tax basis of goodwill. The ASU is effective for the Company beginning in the first quarter of 2021. The Company has adopted ASU 2019-12 and concluded that the impact on its condensed consolidated financial statements was immaterial. Accounting Standards Issued, to be Adopted by the Company in Future Periods In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848),” which provides optional expedients and exceptions for applying GAAP on contract modifications and hedge accounting, in order to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative referenced rates, such as the Secured Overnight Financing Rate. This ASU can be adopted after its issuance date through December 31, 2022. The Company is currently evaluating the impact reference rate reform will have on its contracts that reference LIBOR in order to determine whether to adopt this guidance.
Prosper Funding LLC
Entity Information [Line Items]
SUMMARY OF SIGNIFICANT ACCOUNT POLICIES	Summary of Significant Accounting Policies PFL's significant accounting policies are included in Note 2, Summary of Significant Accounting Policies, in PFL’s Annual Report on Form 10-K for the year ended December 31, 2020. There have been no changes to these accounting policies during the first six months of 2021. Fair Value Measurements Financial instruments consist principally of Cash and Cash Equivalents, Restricted Cash, Borrower Loans, Loans Held for Sale, Accounts Receivable, Accounts Payable and Accrued Liabilities, Payable to Investors and Notes. The estimated fair values of Cash and Cash Equivalents, Restricted Cash, Accounts Receivable, Accounts Payable and Accrued Liabilities, and Payable to Investors approximate their carrying values because of their short-term nature. Refer to Note 7 for additional fair value disclosures. Restricted Cash Restricted Cash consists primarily of cash deposits, money market funds and short-term certificate of deposit accounts held as collateral as required for long term leases, loan funding and servicing activities, and cash that investors have on our marketplace that has not yet been invested in Borrower Loans or disbursed to the investor. Borrower Loans, Loans Held for Sale and Notes With respect to the Note Channel, PFL purchases Borrower Loans from WebBank, then issues Notes and holds the Borrower Loans until maturity. The obligation to repay a series of Notes funded through the Note Channel is dependent upon the repayment of the associated Borrower Loan. Borrower Loans and Notes funded through the Note Channel are carried on PFL’s condensed consolidated balance sheets as assets and liabilities, respectively. PFL places Borrower Loans and Loans Held for Sale on non-accrual status when they are 120 days past due. When a loan is placed on non-accrual status, PFL stops accruing interest and reverses all accrued but unpaid interest as of such date. Additionally, PFL charges-off Borrower Loans and Loans Held for Sale when they are 120 days past due. The fair value of loans 120 days past due generally consists of the expected recovery from debt sales in subsequent periods. Management has elected the fair value option for Borrower Loans, Loans Held for Sale, and Notes. Changes in fair value of Borrower Loans are largely offset by the changes in fair value of Notes due to the borrower payment-dependent design of the Notes. Changes in fair value of Borrower Loans, Loans Held for Sale and Notes are included in “Change in Fair Value of Borrower Loans, Loans Held for Sale and Notes, Net” on the condensed consolidated statements of operations. PFL primarily uses a discounted cash flow model to estimate the fair value of Borrower Loans, Loans Held for Sale and Notes. The key assumptions used in the valuation include default rates and prepayment rates derived primarily from historical performance and discount rates based on estimates of the rates of return that investors would require when investing in financial instruments with similar characteristics. Recent Accounting Pronouncements Accounting Standards Adopted In The Current Period No accounting standards were adopted in the current period for PFL. Accounting Standards Issued, To Be Adopted By PFL In Future Periods No issued and pending accounting standards were identified that are expected to have an impact on PFL.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
PROPERTY AND EQUIPMENT, NET	Property and Equipment, Net Property and Equipment consists of the following at the dates presented (in thousands): June 30, 2021 December 31, 2020 Operating lease right-of-use assets $ 17,532 $ 15,767 Computer equipment 15,081 13,841 Internal-use software and website development costs 37,767 33,176 Office equipment and furniture 2,872 2,872 Leasehold improvements 7,167 7,167 Assets not yet placed in service 4,855 5,035 Property and equipment 85,274 77,858 Less: Accumulated depreciation and amortization (55,064) (49,412) Total Property and Equipment, Net $ 30,210 $ 28,446 Depreciation and amortization expense for Property and Equipment, Net for the three months ended June 30, 2021 and June 30, 2020 wa s $2.4 million an d $2.0 million, respectively. Depreciation and amortization expense for Property and Equipment, Net for the six months ended June 30, 2021 and June 30, 2020 wa s $4.6 million an d $3.9 million, respectively. These charges are included in General and Administrative expenses on the condensed consolidated statements of operations. PMI capitalized internal-use software and website development costs in the amount of $2.5 million and $2.1 million for the three months ended June 30, 2021 and June 30, 2020, respectively. PMI capitalized internal-use software and website development costs in the amount of $4.5 million and $4.8 million for the six months ended June 30, 2021 and June 30, 2020, respectively. Additionally, disclosures around the operating lease right-of-use assets are included in Note 15.
Prosper Funding LLC
Entity Information [Line Items]
PROPERTY AND EQUIPMENT, NET	Property and Equipment, Net Property and equipment consist of the following as of the dates presented (in thousands): June 30, 2021 December 31, 2020 Internal-use software and web site development costs $ 30,986 $ 26,953 Less accumulated depreciation and amortization (22,198) (20,025) Total property and equipment, net $ 8,788 $ 6,928

BORROWER LOANS, LOANS HELD FOR

BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE	Borrower Loans, Loans Held for Sale and Notes, at Fair Value The aggregate principal balances outstanding and fair values of Borrower Loans, Loans Held for Sale, and Notes as of June 30, 2021 and December 31, 2020, are presented in the following table (in thousands): Borrower Loans Loans Held for Sale Notes June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Aggregate principal balance outstanding $ 342,478 $ 393,642 $ 250,989 $ 279,113 $ 239,126 $ 217,110 Fair value adjustments (3,539) (15,379) (1,034) (4,492) (3,085) (8,731) Fair value $ 338,939 $ 378,263 $ 249,955 $ 274,621 $ 236,041 $ 208,379 PMI has offered assistance to qualified borrowers who are facing financial hardship as a result of the COVID-19 pandemic. These relief options include, among other things, the ability to delay up to four monthly loan payments, the ability to reduce minimum monthly payments for up to 12 months and extend the term of the loan by up to 11 months, and waived late and non-sufficient funds fees. Since COVID-19 relief was first offered in March 2020 and through June 30, 2021, approximately 11% of the total outstanding balances of all loans originated on our platform on a cumulative basis have enrolled in at least one of these COVID-19 relief programs. Approximately 2% of the total outstanding balances of all loans originated on our platform are actively enrolled in at least one relief program as of June 30, 2021. Borrower Loans As of June 30, 2021, outstanding Borrower Loans had original terms to maturity of either 36 or 60 months, had monthly payments with fixed interest rates ranging from 5.31% to 31.82%, and h a d various original maturity dates through June 2026. At December 31, 2020, outstanding Borrower Loans had original maturities of either 36 or 60 months, had monthly payments with fixed interest rates ranging from 5.31% to 31.82%, and had various original maturity dates through December 2025. As of June 30, 2021, Borrower Loans that were 90 days or more delinquent ha d an aggregate principal amount of $1.4 million and a fair value of $0.1 million . As of December 31, 2020, Borrower Loans that were 90 days or more delinquent had an aggregate principal amount of $2.8 million and a fair value of $0.3 million . Prosper places loans on non-accrual status when they are over 120 days past due. As of June 30, 2021 and December 31, 2020, Borrower Loans in non-accrual status had a fair value of $0.2 million a nd $0.4 million, respectively. Loans Held for Sale As of June 30, 2021, outstanding Loans Held for Sale had original terms to maturity between 36 months and 60 months, had mont hly payments with fixed interest rates ranging from 5.31% to 31.82% and had various original maturity dates through June 2026. At December 31, 2020, outstanding Loans Held for Sale had original terms to maturity between 36 months and 60 months , had monthly payments with fixed interest rates ranging from 5.31% to 31.82% and had various original maturity dates through December 2025. Interest income earned on Loans Held for Sale by the Company was $15.2 million and $11.6 million for the six months e nded June 30, 2021 and June 30, 2020, respectively. As of June 30, 2021, Loans Held for Sale that were 90 days or more delinquent had an aggregate principal amount of $0.6 million and a fair value of $0.1 million. As of December 31, 2020, Loans Held for S ale that were 90 days or more delinquent had an aggregate principal amount of $0.8 million and a fair value of $0.1 million . Prosper places loans on non-accrual status when they are over 120 days past due. As of June 30, 2021 and December 31, 2020, Loans Held for Sale in non-accrual status had a fair value of $0.1 million (for both periods).
Prosper Funding LLC
Entity Information [Line Items]
BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE	Borrower Loans and Notes, at Fair Value The aggregate principal balances outstanding and fair values of Borrower Loans and Notes as of June 30, 2021 and December 31, 2020, are presented in the following table (in thousands): Borrower Loans Notes June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Aggregate principal balance outstanding $ 236,728 $ 215,373 $ 239,126 $ 217,110 Fair value adjustments 116 (5,703) (3,085) (8,731) Fair value $ 236,844 $ 209,670 $ 236,041 $ 208,379 At June 30, 2021, outstanding Borrower Loans had original terms to maturity of either 36 or 60 months, had monthly payments with fixed interest rates ranging from 5.31% to 31.82% and had various original maturity dates through June 2026. At December 31, 2020, outstanding Borrower Loans had original maturities of either 36 or 60 months, monthly payments with fixed interest rates ranging from 5.31% to 31.82%, and had various original maturity da tes through December 2025. Since COVID-19 relief was first offered in March 2020 and through June 30, 2021, approximately 11% of the total outstanding balances of all loans originated on our platform on a cumulative basis have enrolled in at least one of these COVID-19 relief programs. Approximately 2% of the total outstanding balances of all loans originated on our platform are actively enrolled in at least one relief program as of June 30, 2021. As of June 30, 2021, Borrower Loans that were 90 days or more delinquent had an aggregate principal amount of $0.7 million and a fair value of $0.1 million. As of December 31, 2020, Borrower Loans that were 90 days or more delinquent had an aggregate principal amount of $1.4 million and a fair value of $0.1 million. PFL places loans on non-accrual status when they are over 120 days past due. As of June 30, 2021 and December 31, 2020, Borrower Loans in non-accrual status had a fair value of $0.1 million and $0.2 million, respectively.

SERVICING ASSETS

SERVICING ASSETS	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
SERVICING ASSETS	Servicing Assets Prosper accounts for Servicing Assets at their estimated fair values with changes in fair values recorded in Servicing Fees. The initial asset or liability is recognized when Prosper sells Borrower Loans to unrelated third-party buyers through the Whole Loan Channel and the servicing rights are retained. The Servicing Assets are measured at fair value throughout the servicing period. The total gains recognized on the sale of such Borrower Loans for the three months ended June 30, 2021 and 2020 were $1.4 million and $0.6 million, respectively, recognized in Gain on Sale of Borrower Loans on the condensed consolidated statements of operations. The total gains recognized on the sale of such Borrower Loans for the six months ended June 30, 2021 and 2020 were $3.0 million and $2.4 million, respe ctively, recognized in Gain on Sale of Borrower Loans on the condensed consolidated statements of operations . As of June 30, 2021, Borrower Loans that were sold but for which Prosper retained servicing rights had a total outstanding principal balance of $2.2 billion , original terms of either 36 or 60 months, monthly payments with fixed interest rates ranging fr om 5.31% to 31.82%, and various original maturity dates through June 2026 . A t December 31, 2020, Borrower Loans that were sold but for which Prosper retained servicing rights had a total outstanding principal balance of $2.4 billion, original terms of either 36 or 60 months, monthly payments with fixed interest rates ranging from 5.31% to 31.82%, and various original maturity dates through December 2025. Contractually-specified servicing fees and ancillary fees tota ling $6.0 million a nd $7.3 million for the three months ended June 30, 2021 and 2020 , respectively, and $11.7 million and $16.5 million for the six months ended June 30, 2021 and 2020 , respectively, are included on the condensed consolidated statements of operations in Servicing Fees, Net. Fair Value Valuation Method Prosper uses a discounted cash flow valuation methodology generally consisting of developing an estimate of future cash flows that are expected to occur over the life of a financial instrument and then discounting those cash flows at a rate of return that results in the fair value amount. Significant unobservable inputs presented in the table within Note 7 below are those that Prosper considers significant to the estimated fair values of the Level 3 Servicing Assets. The following is a description of the significant unobservable inputs provided in the table. Market Servicing Rate Prosper estimates adequate market servicing rates that would fairly compensate a substitute servicer should one be required, which includes the profit that would be demanded in the marketplace. This rate is stated as a fixed percentage of outstanding principal balance on a per annum basis. Prosper estimated these market servicing rates based on observable market rates for other loan types in the industry and bids from subservicing providers, adjusted for the unique loan attributes that are present in the specific loans that Prosper sells and services and information from backup service providers. Discount Rate The discount rate is a rate of return used to discount future expected cash flows to arrive at a present value, which represents the fair value of the loan servicing rights. We used a range of discount rates for the Servicing Assets based on comparable observed valuations of similar assets and publicly available disclosures related to servicing valuations, with comparability adjustments made to account for differences with Prosper’s servicing assets. Default Rate The default rate presented in Note 7 is an annualized, average estimate considering all Borrower Loan categories (i.e., risk ratings and duration), and represents an aggregate of conditional default rate curves for each credit grade or Borrower Loan category. Each point on a particular Borrower Loan category’s curve represents the percentage of principal expected to default per period based on the term and age of the underlying Borrower Loans. The assumption regarding defaults directly reduces servicing revenues because the amount of servicing revenues received is based on the amount collected each period. Prepayment Rate The prepayment rate presented in Note 7 is an annualized, average estimate considering all Borrower Loan categories (i.e., risk ratings and duration), and represents an aggregate of conditional prepayment rate curves for each credit grade or Borrower Loan category. Each point on a particular Borrower Loan category’s curve represents the percentage of principal expected to prepay per period based on the term and age of the underlying Borrower Loans. Prepayments reduce servicing revenues as they shorten the period over which we expect to collect fees on the Borrower Loans, which is used to project future servicing revenues.
Prosper Funding LLC
Entity Information [Line Items]
SERVICING ASSETS	Servicing Assets PFL accounts for Servicing Assets at their estimated fair values with changes in fair values recorded in Servicing Fees, Net on the condensed consolidated statements of operations. The initial asset or liability is recognized when PFL sells Borrower Loans to unrelated third-party buyers through the Whole Loa n Channel and the servicing rights are retained. The total recognized gains on the sale of such Borrow er Loans was $1.7 million and $1.2 million for the three months ended June 30, 2021 and June 30, 2020 , respectively, and $3.7 million and $3.2 million for the six mont hs ended June 30, 2021 and June 30, 2020 , respectively. As of June 30, 2021, Borrower Loans that were sold, but for which PFL retained servicing rights, had a total outstanding principal balance of $2.6 billion, origi nal ter ms of either 36 or 60 months, monthly payments with fixed interest rates ranging from 5.31% to 31.82%, and various original maturity dates through June 2026. At December 31, 2020, Borrower Loans that were sold, but for which PFL retained servicing rights, had a total outstanding principal balance of $2.4 billion, original terms of either 36 or 60 months, monthly payments with fixed interest rates ranging from 5.31% to 31.82%, and various original maturity dates through December 2025. Contractually-specified servicing fees and ancillary fees tot aled $9.0 million and $10.5 million for the three months ended June 30, 2021 and June 30, 2020, respectively, and $18.3 million and $23.0 million for the six months ended June 30, 2021 and June 30, 2020, respectively, and are included on the condensed consolidated statements of operations in Servicing Fees, Net. Fair Value Valuation Method PFL uses a discounted cash flow valuation methodology generally consisting of developing an estimate of future cash flows that are expected to occur over the life of a financial instrument and then discounting those cash flows at a rate of return that results in the fair value amount. Significant unobservable inputs presented in the table within Note 7 are those that PFL considers significant to the estimated fair values of the Level 3 Servicing Assets. The following is a description of the significant unobservable inputs provided in the table. Market Servicing Rate PFL estimates adequate market servicing rates that would fairly compensate a substitute servicer should one be required, which includes the profit that would be demanded in the marketplace. This rate is stated as a fixed percentage of outstanding principal balance on a per annum basis. PFL estimates these market servicing rates based on observable market rates for other loan types in the industry and bids from sub-servicing providers, adjusted for the unique loan attributes that are present in the specific loans that PFL sells and services and information from backup service providers. Discount Rate The discount rate is a rate of return used to discount future expected cash flows to arrive at a present value, which represents the fair value of the loan servicing rights. Management used a range of discount rates for the Servicing Assets based on comparable observed valuations of similar assets and publicly available disclosures related to servicing valuations, with comparability adjustments made to account for differences with PFL’s Servicing Assets. Default Rate The default rate presented in Note 7 is an annualized, average estimate considering all Borrower Loan categories (i.e., risk ratings and duration), and represents an aggregate of conditional default rate curves for each credit grade or Borrower Loan category. Each point on a particular Borrower Loan category’s curve represents the percentage of principal expected to default per period based on the term and age of the underlying Borrower Loans. The assumption regarding defaults directly reduces servicing revenues because the amount of servicing revenues received is based on the amount collected each period. Prepayment Rate The prepayment rate presented in Note 7 is an annualized, average estimate considering all Borrower Loan categories (i.e., risk ratings and duration), and represents an aggregate of conditional prepayment rate curves for each credit grade or Borrower Loan category. Each point on a particular Borrower Loan category’s curve represents the percentage of principal expected to prepay per period based on the term and age of the underlying Borrower Loans. Prepayments reduce servicing revenues as they shorten the period over which PFL expects to collect fees on the Borrower Loans, which is used to project future servicing revenues.

SECURITIZATIONS

SECURITIZATIONS	6 Months Ended
	Jun. 30, 2021
Transfers and Servicing [Abstract]
SECURITIZATIONS	SecuritizationsIn 2019, Prosper co-sponsored and retained residual certificates in securitizations of unsecured personal whole loans facilitated through our marketplace with an aggregate outstanding principal balance of $573.0 million through three securitization trusts (PMIT 2019-1, PMIT 2019-2, and PMIT 2019-4). Each securitization trust issued senior notes, a risk retention interest and residual certificates to finance the purchase of Borrower Loans. The risk retention interest represents the right to receive 5.0% of all amounts collected on the Borrower Loans held by the securitization trusts. The resulting senior notes were sold to third party investors. Prosper retained 65.5%, 16.4%, and 19.6% of the residual certificates issued by PMIT 2019-1, PMIT 2019-2, and PMIT 2019-4, respectively. The remaining residual certificates and all the risk retention interests are held by third-party investors. In addition to the retained residual certificates, Prosper's continued involvement includes loan servicing responsibilities over the life of the underlying loans. PMIT 2019-1, 2019-2 and 2019-4 are deemed VIEs. Prosper consolidated the VIEs as the primary beneficiary because Prosper, through its role as the servicer, has both the power to direct the activities that most significantly affect the VIEs' economic performance and a variable interest that could potentially be significant to the VIEs through holding the retained residual certificates. In evaluating whether Prosper is the primary beneficiary, management considers both qualitative and quantitative factors regarding the nature, size and form of our involvement with the VIEs. Management assesses whether Prosper is the primary beneficiary of the VIEs on an on-going basis. For these VIEs, the creditors have no recourse to the general credit of Prosper and the liabilities of the VIEs can only be settled by the respective VIEs' assets. Additionally, the assets of the VIEs can be used only to settle obligations of the VIEs. Because Prosper consolidates the securitization trusts, the loans held in the securitization trusts are included in “Borrower Loans, at Fair Value”, the notes sold to third party investors recorded in “Notes Issued by Securitization Trust”, and the risk retention interests and residual certificates held by third party investors in “Certificates Issued by Securitization Trust, at Fair Value” in the condensed consolidated balance sheets. PMIT 2019-1 The notes under the PMIT 2019-1 securitization were issued in three classes: Class A in the amount of $127.3 million, Class B in the amount of $25.0 million and Class C in the amount of $19.3 million (collectively, the “2019-1 Notes”). The Class A, Class B and Class C notes bear interest at a fixed rate of 3.54%, 4.03% and 5.27%, respectively. Principal and interest payments began in March 2019 and are payable monthly. These notes are recorded at amortized cost on the balance sheet. The associated debt issuance costs of $2.3 million are deferred and amortized into interest expense over the contractual life of the notes. The notes held by third-party investors and the unamortized debt issuance costs are included in “Notes Issued by Securitization Trust” with a balance of $18.9 million and are secured by Borrower Loans at fair value of $20.1 million included in “Borrower Loans, at Fair Value” on the condensed consolidated balance sheets as of June 30, 2021. The risk retention and residual certificates held by third party investors at fair value of $2.1 million are included in “Certificates Issued by Securitization Trust, at Fair Value” on the condensed consolidated balance sheets as of June 30, 2021. PMIT 2019-2 The notes under the PMIT 2019-2 securitization were issued in three classes: Class A in the amount of $110.1 million, Class B in the amount of $31.4 million and Class C in the amount of $32.7 million (collectively, the “2019-2 Notes”). The Class A, Class B and Class C notes bear interest at a fixed rate of 3.20%, 3.69% and 5.05%, respectively. Principal and interest payments began in July 2019 and are payable monthly. These notes are recorded at amortized cost on the balance sheet. The associated debt issuance costs of $1.9 million are deferred and amortized into interest expense over the contractual life of the notes. The notes held by third-party investors and the unamortized debt issuance costs are included in “Notes Issued by Securitization Trust” with a balance of $35.6 million and are secured by Borrower Loans at fair value of $39.1 million included in “Borrower Loans, at Fair Value” on the condensed consolidated balance sheets as of June 30, 2021. The risk retention and residual certificates held by third party investors at fair value of $6.7 million are included in “Certificates Issued by Securitization Trust, at Fair Value” on the condensed consolidated balance sheets as of June 30, 2021. PMIT 2019-4 The notes under the PMIT 2019-4 securitization were issued in three classes: Class A in the amount of $102.6 million, Class B in the amount of $19.5 million and Class C in the amount of $16.8 million (collectively, the “2019-4 Notes”). The Class A, Class B and Class C notes bear interest at a fixed rate of 2.48%, 3.20% and 4.95% respectively. Principal and interest payments began in December 2019 and are payable monthly. These notes are recorded at amortized cost on the balance sheet. The associated debt issuance costs of $1.2 million are deferred and amortized into interest expense over the contractual life of the notes. The notes held by third-party investors and the unamortized debt issuance costs are included in “Notes Issued by Securitization Trust” with a balance of $40.4 million and are secured by Borrower Loans at fair value of $42.9 million included in “Borrower Loans, at Fair Value” on the condensed consolidated balance sheets as of June 30, 2021. The risk retention interest and residual certificates held by third party investors at fair value of $6.5 million are included in “Certificates Issued by Securitization Trust, at Fair Value” in the condensed consolidated balance sheets as of June 30, 2021.

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
FAIR VALUE OF ASSETS AND LIABILITIES	Fair Value of Assets and LiabilitiesProsper measures the fair value of assets and liabilities in accordance with its fair value hierarchy which prioritizes information used to measure fair value and the effect of fair value measurements on earnings and provides for enhanced disclosures determined by the level within the hierarchy of information used in the valuation. The Company applies this framework whenever other standards require (or permit) assets or liabilities to be measured at fair value. Assets and liabilities carried at fair value on the balance sheets are classified among three levels based on the observability of the inputs used to determine fair value: Level 1 — The valuation is based on quoted prices in active markets for identical instruments. Level 2 — The valuation is based on observable inputs such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation methodologies for which all significant assumptions are observable in the market. Level 3 — The valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the instrument. Level 3 valuations are typically performed using pricing models, discounted cash flow methodologies, or similar methodologies, which incorporate management’s own estimates of assumptions that market participants would use in pricing the instrument or valuations that require significant management judgment or estimation. Fair values of assets or liabilities are determined based on the fair value hierarchy, which requires an entity to maximize the use of quoted prices and observable inputs and to minimize the use of unobservable inputs when measuring fair value. Various valuation methodologies are utilized, depending on the nature of the financial instrument, including the use of market prices for identical or similar instruments, or discounted cash flow models. When possible, active and observable market data for identical or similar financial instruments are utilized. Alternatively, fair value is determined using assumptions that management believes a market participant would use in pricing the asset or liability. Prosper did not transfer any assets or liabilities in or out of Level 3 for the six months ended June 30, 2021 or June 30, 2020. Financial Instruments Recorded at Fair Value The fair value of the Borrower Loans, Loans Held for Sale, Notes, Certificates Issued by Securitization Trust, Servicing Rights and loan trailing fee liability are estimated using discounted cash flow methodologies based upon a set of valuation assumptions. The primary assumptions used in the discounted cash flow model include default and prepayment rates primarily derived from historical performance and discount rates applied to each credit grade based on the perceived credit risk of each credit grade. The Convertible Preferred Stock Warrant Liability is valued using a Black-Scholes option pricing model. Refer to Note 12 for further details. The following tables present the fair value hierarchy for assets and liabilities measured at fair value (in thousands): June 30, 2021 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 338,939 $ 338,939 Loans Held for Sale at Fair Value — — 249,955 249,955 Servicing Assets — — 8,944 8,944 Total Assets $ — $ — $ 597,838 $ 597,838 Liabilities: Notes, at Fair Value $ — $ — $ 236,041 $ 236,041 Certificates Issued by Securitization Trust, at Fair Value — — 15,295 15,295 Convertible Preferred Stock Warrant Liability — — 162,436 162,436 Loan Trailing Fee Liability — — 2,145 2,145 Total Liabilities $ — $ — $ 415,917 $ 415,917 December 31, 2020 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 378,263 $ 378,263 Loans Held for Sale at Fair Value — — 274,621 274,621 Servicing Assets — — 9,242 9,242 Total Assets $ — $ — $ 662,126 $ 662,126 Liabilities: Notes, at Fair Value $ — $ — $ 208,379 $ 208,379 Certificates Issued by Securitization Trust, at Fair Value — — 22,917 22,917 Convertible Preferred Stock Warrant Liability — — 112,319 112,319 Loan Trailing Fee Liability — — 2,233 2,233 Total Liabilities $ — $ — $ 345,848 $ 345,848 As PMI’s Borrower Loans, Loans Held for Sale, Notes, Certificates Issued by Securitization Trust, Convertible Preferred Stock Warrant Liability, servicing assets and loan trailing fee liability do not trade in an active market with readily observable prices, the Company uses significant unobservable inputs to measure the fair value of these assets and liabilities. Financial instruments are categorized in the Level 3 valuation hierarchy based on the significance of unobservable factors in the overall fair value measurement. These fair value estimates may also include observable, actively quoted components derived from external sources. As a result, gains and losses for assets and liabilities within the Level 3 category may include changes in fair value that were attributable to both observable and unobservable inputs. Prosper did not transfer any assets or liabilities in or out of Level 3 for the six months ended June 30, 2021 and June 30, 2020. Significant Unobservable Inputs The following tables present quantitative information about the ranges of significant unobservable inputs used for the Company’s Level 3 fair value measurements at June 30, 2021 and December 31, 2020: Range Borrower Loans, Loans Held for Sale and Notes: June 30, 2021 December 31, 2020 Discount rate 4.6% - 16.1% 4.5% - 17.7% Default rate 0.3% - 17.3% 2.3% - 17.9% Range Certificates Issued by Securitization Trust: June 30, 2021 December 31, 2020 Discount rate 3.1% - 14.0% 3.3% - 16.0% Default rate 0.3% - 13.0% 3.2% - 15.3% Prepayment rate 3.4% - 35.5% 7.6% - 35.4% Range Servicing Assets: June 30, 2021 December 31, 2020 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.9% - 16.8% 1.9% - 17.7% Prepayment rate 11.6% - 28.6% 12.4% - 28.9% Market servicing rate (1) (2) 0.625% - 0.818% 0.625% - 0.818% (1) Servicing assets associated with loans enrolled in a relief program offered by the Company in response to the COVID-19 pandemic as of June 30, 2021 and December 31, 2020 were measured using a market servicing rate assumption of 81.8 basis points. This rate was estimated using a multiplier consistent with observable market rates for other loan types, applied to the base market servicing rate assumption of 62.5 basis points. (2) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of June 30, 2021 and December 31, 2020, the market rate for collection fees and non-sufficient fund fees was assumed to be 6 basis points and 7 basis points, respectively, for a total market servicing rate range of 68.5 - 87.8 basis points and a total market servicing rate of 69.5 - 88.8 basis points, respectively. Range Loan Trailing Fee Liability June 30, 2021 December 31, 2020 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.9% - 16.8% 1.9% - 17.7% Prepayment rate 11.6% - 28.6% 12.4% - 28.9% At June 30, 2021 and December 31, 2020, the discounted cash flow methodology used to estimate the Notes fair values used the same projected cash flows as the related Borrower Loans. Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis The following tables present additional information about Level 3 Borrower Loans, Loans Held for Sale, Notes and Certificates Issued by Securitization Trust measured at fair value on a recurring basis (in thousands): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held For Sale Notes Certificates Issued by Securitization Trust Total Balance at January 1, 2021 $ 378,263 $ 274,621 $ (208,379) $ (22,917) $ 421,588 Purchase of Borrower Loans/Issuance of Notes 107,609 792,674 (108,203) — 792,080 Principal repayments (145,982) (73,454) 81,042 10,893 (127,501) Borrower Loans sold to third parties (1,724) (743,334) — — (745,058) Other changes (1,192) (267) 219 72 (1,168) Change in fair value 1,965 (285) (720) (3,343) (2,383) Balance at June 30, 2021 $ 338,939 $ 249,955 $ (236,041) $ (15,295) $ 337,558 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Certificates Issued by Securitization Trust Total Balance at January 1, 2020 $ 634,019 $ 142,026 $ (244,171) $ (52,168) $ 479,706 Purchase of Borrower Loans/Issuance of Notes 65,664 622,122 (65,043) — 622,743 Principal repayments (179,552) (43,076) 77,107 9,875 (135,646) Borrower Loans sold to third parties (4,254) (491,782) — — (496,036) Other changes (158) 779 (257) 341 705 Change in fair value (58,232) (13,826) 22,377 10,381 (39,300) Balance at June 30, 2020 $ 457,487 $ 216,243 $ (209,987) $ (31,571) $ 432,172 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held For Sale Notes Certificates Issued by Securitization Trust Total Balance at April 1, 2021 $ 351,101 $ 240,379 $ (218,494) $ (19,726) $ 353,260 Purchase of Borrower Loans/Issuance of Notes 58,651 386,440 (58,342) — 386,749 Principal repayments (70,592) (38,583) 41,254 5,408 (62,513) Borrower Loans sold to third parties (715) (338,506) — — (339,221) Other changes (523) (132) 32 39 (584) Change in fair value 1,017 357 (491) (1,016) (133) Balance at June 30, 2021 $ 338,939 $ 249,955 $ (236,041) $ (15,295) $ 337,558 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Certificates Issued by Securitization Trust Total Balance at April 1, 2020 $ 522,404 $ 153,236 $ (225,491) $ (35,316) $ 414,833 Purchase of Borrower Loans/Issuance of Notes 24,363 222,572 (24,468) — 222,467 Principal repayments (82,837) (24,516) 36,520 5,042 (65,791) Borrower Loans sold to third parties (1,991) (136,148) — — (138,139) Other changes 584 673 (396) 303 1,164 Change in fair value (5,036) 426 3,848 (1,600) (2,362) Balance at June 30, 2020 $ 457,487 $ 216,243 $ (209,987) $ (31,571) $ 432,172 The following tables present additional information about Level 3 Servicing Assets measured at fair value on a recurring basis for the three and six month periods ending June 30, 2021 and 2020 (in thousands): Servicing Assets Fair Value at January 1, 2021 $ 9,242 Additions 3,779 Less: Changes in fair value (4,077) Fair Value at June 30, 2021 $ 8,944 Servicing Assets Fair Value at January 1, 2020 $ 12,602 Additions 2,703 Less: Changes in fair value (5,232) Fair Value at June 30, 2020 $ 10,073 Servicing Assets Fair Value at April 1, 2021 $ 9,248 Additions 1,760 Less: Changes in fair value (2,064) Fair Value at June 30, 2021 $ 8,944 Servicing Assets Fair Value at April 1, 2020 $ 11,742 Additions 729 Less: Changes in fair value (2,398) Fair Value at June 30, 2020 $ 10,073 The following tables present additional information about the Level 3 Convertible Preferred Stock Warrant Liability measured at fair value on a recurring basis for the six month periods ending June 30, 2021 and 2020 (in thousands): Convertible Preferred Stock Balance as of January 1, 2021 $ 112,319 Change in fair value 50,117 Balance as of June 30, 2021 $ 162,436 Convertible Preferred Stock Balance as of January 1, 2020 $ 149,996 Change in fair value (74,998) Balance as of June 30, 2020 $ 74,998 Convertible Preferred Stock Balance as of April 1, 2021 $ 156,750 Change in fair value 5,686 Balance as of June 30, 2021 $ 162,436 Convertible Preferred Stock Balance as of April 1, 2020 $ 94,547 Change in fair value (19,549) Balance as of June 30, 2020 $ 74,998 Loan Trailing Fee The fair value of the Loan Trailing Fee represents the present value of the expected monthly Loan Trailing Fee payments, which takes into consideration certain assumptions related to expected prepayment rates and default rates using a discounted cash flow model. The assumptions used are the same as those used for the valuation of Servicing Assets, as described below. The following tables present additional information about the Level 3 Loan Trailing Fee Liability measured at fair value on a recurring basis for the six month periods ending June 30, 2021 and 2020 (in thousands): Loan Trailing Fee Liability Balance at January 1, 2021 $ 2,233 Issuances 817 Cash Payment of Loan Trailing Fee (1,066) Change in Fair Value 161 Balance at June 30, 2021 $ 2,145 Loan Trailing Fee Liability Balance at January 1, 2020 $ 2,997 Issuances 625 Cash Payment of Loan Trailing Fee (1,271) Change in Fair Value 52 Balance at June 30, 2020 $ 2,403 Loan Trailing Fee Liability Balance at April 1, 2021 $ 2,189 Issuances 407 Cash Payment of Loan Trailing Fee (522) Change in Fair Value 71 Balance at June 30, 2021 $ 2,145 Loan Trailing Fee Liability Balance at April 1, 2020 $ 2,646 Issuances 240 Cash Payment of Loan Trailing Fee (596) Change in Fair Value 113 Balance at June 30, 2020 $ 2,403 Significant Recurring Level 3 Fair Value Input Sensitivity Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at June 30, 2021 and December 31, 2020 for Borrower Loans and Loans Held for Sale are presented in the following table (in thousands, except percentages). Borrower Loans and Loans Held for Sale June 30, 2021 December 31, 2020 Fair value, using the following assumptions: $ 588,894 $ 652,884 Weighted-average discount rate 6.81 % 8.26 % Weighted-average default rate 10.44 % 11.58 % Fair value resulting from: 100 basis point increase in discount rate $ 583,202 $ 647,093 200 basis point increase in discount rate $ 577,651 $ 641,437 Fair value resulting from: 100 basis point decrease in discount rate $ 594,733 $ 658,817 200 basis point decrease in discount rate $ 600,724 $ 664,895 Fair value resulting from: 10 percent increase in default rate $ 583,270 $ 646,421 20 percent increase in default rate $ 577,684 $ 639,987 Fair value resulting from: 10 percent decrease in default rate $ 594,551 $ 659,377 20 percent decrease in default rate $ 600,243 $ 665,904 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at June 30, 2021 and December 31, 2020 for Notes are presented in the following table (in thousands, except percentages). Notes June 30, 2021 December 31, 2020 Fair value, using the following assumptions: $ 236,041 $ 208,379 Weighted-average discount rate 6.74 % 8.93 % Weighted-average default rate 11.20 % 12.26 % Fair value resulting from: 100 basis point increase in discount rate $ 233,756 $ 206,528 200 basis point increase in discount rate $ 231,528 $ 204,720 Fair value resulting from: 100 basis point decrease in discount rate $ 238,385 $ 210,274 200 basis point decrease in discount rate $ 240,789 $ 212,217 Fair value resulting from: 10 percent increase in default rate $ 233,774 $ 206,304 20 percent increase in default rate $ 231,521 $ 204,238 Fair value resulting from: 10 percent decrease in default rate $ 238,322 $ 210,463 20 percent decrease in default rate $ 240,617 $ 212,558 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at June 30, 2021 and December 31, 2020 for Certificates Issued by Securitization Trust are presented in the following table (in thousands, except percentages). Certificates Issued by Securitization Trust June 30, 2021 December 31, 2020 Fair value, using the following assumptions: $ 15,295 $ 22,917 Weighted-average discount rate 9.77 % 11.12 % Weighted-average default rate 10.42 % 12.93 % Weighted-average prepayment rate 19.17 % 20.86 % Fair value resulting from: 100 basis point increase in discount rate $ 15,171 $ 22,729 200 basis point increase in discount rate $ 15,051 $ 22,545 Fair value resulting from: 100 basis point decrease in discount rate $ 15,422 $ 23,110 200 basis point decrease in discount rate $ 15,552 $ 23,308 Fair value resulting from: 10 percent increase in default rate $ 14,732 $ 21,798 20 percent increase in default rate $ 14,175 $ 20,690 Fair value resulting from: 10 percent decrease in default rate $ 15,854 $ 24,030 20 percent decrease in default rate $ 16,417 $ 25,150 Fair value resulting from: 10 percent increase in prepayment rate $ 15,300 $ 22,933 20 percent increase in prepayment rate $ 15,307 $ 22,958 Fair value resulting from: 10 percent decrease in prepayment rate $ 15,284 $ 22,891 20 percent decrease in prepayment rate $ 15,279 $ 22,872 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at June 30, 2021 and December 31, 2020 for Servicing Assets is presented in the following table (in thousands, except percentages). Servicing Assets June 30, 2021 December 31, 2020 Fair value, using the following assumptions $ 8,944 $ 9,242 Weighted-average market servicing rate 0.628 % 0.631 % Weighted-average prepayment rate 19.77 % 19.84 % Weighted-average default rate 12.99 % 12.78 % Fair value resulting from: Market servicing rate increase of 0.025% $ 8,404 $ 8,689 Market servicing rate decrease of 0.025% $ 9,483 $ 9,796 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 8,768 $ 9,064 Applying a 0.9 multiplier to prepayment rate $ 9,121 $ 9,423 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 8,816 $ 9,116 Applying a 0.9 multiplier to default rate $ 9,071 $ 9,369 These sensitivities are hypothetical and should be evaluated with care. The effect on fair value of a variation in assumptions generally cannot be determined because the relationship of the change in assumptions to the fair value may not be linear. Additionally, the impact of a variation in a particular assumption on the fair value is calculated while holding other assumptions constant. In reality, changes in one factor may lead to changes in other factors, which could impact the above hypothetical effects. Assets and Liabilities Not Recorded at Fair Value The following table presents the fair value hierarchy for assets, and liabilities not recorded at fair value (in thousands): June 30, 2021 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and Cash Equivalents $ 56,018 $ 56,018 $ — $ — $ 56,018 Restricted Cash - Cash and Cash Equivalents 200,500 200,500 — — 200,500 Restricted Cash - Certificates of Deposit 4,877 — 4,877 — 4,877 Accounts Receivable 1,088 — 1,088 — 1,088 Total Assets $ 262,483 $ 256,518 $ 5,965 $ — $ 262,483 Liabilities: Accounts Payable and Accrued Liabilities $ 20,328 $ — $ 20,328 $ — $ 20,328 Payable to Investors 174,387 — 174,387 — 174,387 Notes Issued by Securitization Trust 94,811 — 97,556 — 97,556 Warehouse Lines 219,467 — 222,015 — 222,015 Paycheck Protection Program loan (Note 10) 8,547 — 8,544 — 8,544 Total Liabilities $ 517,540 $ — $ 522,830 $ — $ 522,830 December 31, 2020 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and Cash Equivalents $ 50,145 $ 50,145 $ — $ — $ 50,145 Restricted Cash - Cash and Cash Equivalents 158,846 158,846 — — 158,846 Restricted Cash - Certificates of Deposit 4,877 — 4,877 — 4,877 Accounts Receivable 605 — 605 — 605 Total Assets $ 214,473 $ 208,991 $ 5,482 $ — $ 214,473 Liabilities: Accounts Payable and Accrued Liabilities $ 17,876 $ — $ 17,876 $ — $ 17,876 Payable to Investors 124,094 — 124,094 — 124,094 Notes Issued by Securitization Trust 156,782 — 158,951 — 158,951 Warehouse Lines 242,479 — 242,261 — 242,261 Paycheck Protection Program loan (Note 10) 8,505 — 8,540 — 8,540 Total Liabilities $ 549,736 $ — $ 551,722 $ — $ 551,722 The estimated fair values of Cash and Cash Equivalents, Restricted Cash, Accounts Receivable, Accounts Payable and Accrued Liabilities and Payable to Investors approximate their carrying values because of their short-term nature.
Prosper Funding LLC
Entity Information [Line Items]
FAIR VALUE OF ASSETS AND LIABILITIES	Fair Value of Assets and Liabilities PFL has elected to record certain financial instruments at fair value on the balance sheet. PFL classifies Borrower Loans, Loans Held for Sale and Notes as financial instruments and assesses their fair value each on a quarterly basis for financial statement presentation purposes. Gains and losses on these financial instruments are shown separately on the condensed consolidated statements of operations. As of June 30, 2021 and December 31, 2020, the discounted cash flow methodology used to estimate the Notes fair values used the same projected cash flows as the related Borrower Loans. As demonstrated in the table below, the fair value adjustments for Borrower Loans were largely offset by the fair value adjustments of the Notes due to the borrower payment dependent design of the Notes and because the principal balances of the Borrower Loans approximated the principal balances of the Notes. Assets and liabilities carried at fair value on the balance sheets are classified among three levels based on the observability of the inputs used to determine fair value: Level 1 — The valuation is based on quoted prices in active markets for identical instruments. Level 2 — The valuation is based on observable inputs such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation methodologies for which all significant assumptions are observable in the market. Level 3 — The valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the instrument. Level 3 valuations are typically performed using pricing models, discounted cash flow methodologies, or similar methodologies, which incorporate management’s own estimates of assumptions that market participants would use in pricing the instrument or valuations that require significant management judgment or estimation. Fair values of assets or liabilities are determined based on the fair value hierarchy, which requires an entity to maximize the use of quoted prices and observable inputs and to minimize the use of unobservable inputs when measuring fair value. Various valuation methodologies are utilized, depending on the nature of the financial instrument, including the use of market prices for identical or similar instruments, or discounted cash flow models. When possible, active and observable market data for identical or similar financial instruments are utilized. Alternatively, fair value is determined using assumptions that management believes a market participant would use in pricing the asset or liability. PFL did not transfer any assets or liabilities in or out of Level 3 for the six months ended June 30, 2021 or 2020. Financial Instruments Recorded at Fair Value The fair value of the Borrower Loans and Notes are estimated using discounted cash flow methodologies based upon a set of valuation assumptions. The primary cash flow assumptions used to value such Borrower Loans and Notes include default and prepayment rates derived primarily from historical performance and discount rates that reflect estimates of the rates of return that investors would require when investing in financial instruments with similar characteristics. The following tables present the fair value hierarchy for assets and liabilities measured at fair value (in thousands): June 30, 2021 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 236,844 $ 236,844 Servicing Assets — — 10,389 10,389 Total Assets $ — $ — $ 247,233 $ 247,233 Liabilities: Notes, at Fair Value $ — $ — $ 236,041 $ 236,041 Loan Trailing Fee Liability — — 2,145 2,145 Total Liabilities $ — $ — $ 238,186 $ 238,186 December 31, 2020 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 209,670 $ 209,670 Servicing Assets — — 11,088 11,088 Total Assets $ — $ — $ 220,758 $ 220,758 Liabilities: Notes, at Fair Value $ — $ — $ 208,379 $ 208,379 Loan Trailing Fee Liability — — 2,233 2,233 Total Liabilities $ — $ — $ 210,612 $ 210,612 As PFL’s Borrower Loans, Notes, Servicing Assets and loan trailing fee liability do not trade in an active market with readily observable prices, PFL uses significant unobservable inputs to measure the fair value of these assets and liabilities. Financial instruments are categorized in the Level 3 valuation hierarchy based on the significance of unobservable factors in the overall fair value measurement. These fair value estimates may also include observable, actively quoted components derived from external sources. As a result, the realized and unrealized gains and losses for assets and liabilities within the Level 3 category may include changes in fair value that were attributable to both observable and unobservable inputs. Significant Unobservable Inputs The following tables present quantitative information about the significant unobservable inputs used for PFL’s Level 3 fair value measurements at the dates presented: Range Borrower Loans and Notes June 30, 2021 December 31, 2020 Discount rate 4.6% - 12.7% 5.3% - 16.1% Default rate 2.4% - 15.2% 2.6% - 16.2% Range Servicing Assets June 30, 2021 December 31, 2020 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.9% - 16.8% 1.9% - 17.7% Prepayment rate 11.6% - 28.6% 12.4% - 28.9% Market servicing rate (1) (2) 0.625% - 0.818% 0.625% - 0.818% (1) Servicing assets associated with loans enrolled in a relief program offered by the Company in response to the COVID-19 pandemic as of June 30, 2021 and December 31, 2020 were measured using a market servicing rate assumption of 81.8 basis points. This rate was estimated using a multiplier consistent with observable market rates for other loan types, applied to the base market servicing rate assumption of 62.5 basis points. (2) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of June 30, 2021 and December 31, 2020, the market rate for collection fees and non-sufficient fund fees was assumed to be 6 basis points and 7 basis points, respectively, for a total market servicing rate range of 68.5 - 87.8 basis points and a total market servicing rate of 69.5 - 88.8 basis points, respectively. Range Loan Trailing Fee Liability June 30, 2021 December 31, 2020 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.9% - 16.8% 1.9% - 17.7% Prepayment rate 11.6% - 28.6% 12.4% - 28.9% Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis The following tables present additional information about Level 3 Borrower Loans, Loans Held for Sale and Notes measured at fair value on a recurring basis for three months ended June 30, 2021 and 2020 (in thousands): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at January 1, 2021 $ 209,670 $ — $ (208,379) $ 1,291 Originations 107,609 792,674 (108,203) 792,080 Principal repayments (80,334) — 81,042 708 Borrower Loans sold to third parties (769) (792,674) — (793,443) Other changes (208) — 219 11 Change in fair value 876 — (720) 156 Balance at June 30, 2021 $ 236,844 $ — $ (236,041) $ 803 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at January 1, 2020 $ 245,137 $ — $ (244,171) $ 966 Originations 65,664 622,122 (65,043) 622,743 Principal repayments (75,596) — 77,108 1,512 Borrower Loans sold to third parties (1,564) (622,122) — (623,686) Other changes 253 — (257) (4) Change in fair value (22,119) — 22,377 258 Balance at June 30, 2020 $ 211,775 $ — $ (209,986) $ 1,789 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at April 1, 2021 $ 219,012 $ — $ (218,494) $ 518 Originations 58,651 386,440 (58,342) 386,749 Principal repayments (41,259) — 41,254 (5) Borrower Loans sold to third parties (326) (386,440) — (386,766) Other changes (109) — 32 (77) Change in fair value 875 — (491) 384 Balance at June 30, 2021 $ 236,844 $ — $ (236,041) $ 803 Borrower Loans Loans Held for Sale Notes Total Balance at April 1, 2020 $ 227,659 $ — $ (225,491) $ 2,168 Originations 24,363 222,572 (24,468) 222,467 Principal repayments (36,256) — 36,520 264 Borrower Loans sold to third parties (682) (222,572) — (223,254) Other changes 344 — (395) (51) Change in fair value (3,653) — 3,848 195 Balance at June 30, 2020 $ 211,775 $ — $ (209,986) $ 1,789 The following tables present additional information about Level 3 Servicing Assets recorded at fair value (in thousands): Servicing Assets Fair Value at January 1, 2021 $ 11,088 Additions 4,376 Less: Changes in fair value (5,075) Fair Value at June 30, 2021 $ 10,389 Servicing Assets Fair Value at January 1, 2020 $ 14,888 Additions 3,402 Less: Changes in fair value (6,227) Fair Value at June 30, 2020 $ 12,063 Servicing Assets Fair Value at April 1, 2021 $ 10,770 Additions 2,022 Less: Changes in fair value (2,403) Fair Value at June 30, 2021 $ 10,389 Servicing Assets Fair Value at April 1, 2020 $ 13,690 Additions 1,206 Less: Changes in fair value (2,833) Fair Value at June 30, 2020 $ 12,063 Loan Trailing Fee Liability The fair value of the Loan Trailing Fee Liability represents the present value of the expected monthly Loan Trailing Fee payments, which takes into consideration certain assumptions related to expected prepayment rates and default rates using a discounted cash flow model. The assumptions used are the same as those used for the valuation of Servicing Assets, as described below. The following tables present additional information about Level 3 Loan Trailing Fee Liability measured at fair value on a recurring basis (in thousands): Loan Trailing Fee Liability Fair Value at January 1, 2021 $ 2,233 Issuances 817 Cash payment of Loan Trailing Fee (1,066) Change in fair value 161 Fair Value at June 30, 2021 $ 2,145 Loan Trailing Fee Liability Fair Value at January 1, 2020 $ 2,997 Issuances 625 Cash payment of Loan Trailing Fee (1,271) Change in fair value 52 Fair Value at June 30, 2020 $ 2,403 Loan Trailing Fee Liability Fair Value at April 1, 2021 $ 2,189 Issuances 407 Cash payment of Loan Trailing Fee (522) Change in fair value 71 Fair Value at June 30, 2021 $ 2,145 Loan Trailing Fee Liability Fair Value at April 1, 2020 $ 2,646 Issuances 240 Cash payment of Loan Trailing Fee (596) Change in fair value 113 Fair Value at June 30, 2020 $ 2,403 Significant Recurring Level 3 Fair Value Asset and Liability Input Sensitivity Key economic assumptions are used to compute the fair value of Borrower Loans. The sensitivity of the fair value to immediate changes in assumptions at June 30, 2021 and December 31, 2020 for Borrower Loans are presented in the following table (in thousands, except percentages). Borrower Loans: June 30, 2021 December 31, 2020 Fair value, using the following assumptions: $ 236,844 $ 209,670 Weighted-average discount rate 6.74 % 8.93 % Weighted-average default rate 11.20 % 12.26 % Fair value resulting from: 100 basis point increase in discount rate $ 234,555 $ 207,810 200 basis point increase in discount rate $ 232,322 $ 205,994 Fair value resulting from: 100 basis point decrease in discount rate $ 239,192 $ 211,575 200 basis point decrease in discount rate $ 241,601 $ 213,527 Fair value resulting from: 10 percent increase in default rate $ 234,582 $ 207,594 20 percent increase in default rate $ 232,335 $ 205,528 Fair value resulting from: 10 percent decrease in default rate $ 239,119 $ 211,755 20 percent decrease in default rate $ 241,408 $ 213,851 Key economic assumptions are used to compute the fair value of Notes. The sensitivity of the fair value to immediate changes in assumptions at June 30, 2021 and December 31, 2020 for Notes funded through the Note Channel are presented in the following table (in thousands, except percentages). Notes June 30, 2021 December 31, 2020 Fair value, using the following assumptions: $ 236,041 $ 208,379 Weighted-average discount rate 6.74 % 8.93 % Weighted-average default rate 11.20 % 12.26 % Fair value resulting from: 100 basis point increase in discount rate $ 233,756 $ 206,528 200 basis point increase in discount rate $ 231,528 $ 204,720 Fair value resulting from: 100 basis point decrease in discount rate $ 238,385 $ 210,274 200 basis point decrease in discount rate $ 240,789 $ 212,217 Fair value resulting from: 10 percent increase in default rate $ 233,774 $ 206,304 20 percent increase in default rate $ 231,521 $ 204,238 Fair value resulting from: 10 percent decrease in default rate $ 238,322 $ 210,463 20 percent decrease in default rate $ 240,617 $ 212,558 Key economic assumptions are used to compute the fair value of Servicing Assets. The sensitivity of the current fair value to immediate changes in assumptions at June 30, 2021 and December 31, 2020 for Servicing Assets are presented in the following table (in thousands, except percentages). Servicing Assets June 30, 2021 December 31, 2020 Fair value, using the following assumptions: $ 10,389 $ 11,088 Weighted-average market servicing rate 0.628 % 0.631 % Weighted-average prepayment rate 19.77 % 19.84 % Weighted-average default rate 12.99 % 12.78 % Fair value resulting from: Market servicing rate increase of 0.025% $ 9,762 $ 10,424 Market servicing rate decrease of 0.025% $ 11,015 $ 11,752 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 10,185 $ 10,874 Applying a 0.9 multiplier to prepayment rate $ 10,595 $ 11,304 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 10,241 $ 10,936 Applying a 0.9 multiplier to default rate $ 10,537 $ 11,239 These sensitivities are hypothetical and should be evaluated with care. The effect on fair value of a variation in assumptions generally cannot be determined because the relationship of the change in assumptions to the fair value may not be linear. Additionally, the impact of a variation in a particular assumption on the fair value is calculated while holding other assumptions constant. In reality, changes in one factor may lead to changes in other factors, which could impact the above hypothetical effects.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS, NET	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS, NET	Goodwill and Other Intangible Assets, Net Goodwill Prosper’s goodwill balance of $36.4 million at December 31, 2020 did not change during the six months ended June 30, 2021. The Company recorded no goodwill impairment for the six months ended June 30, 2021 and 2020. Other Intangible Assets The following table presents the detail of other intangible assets subject to amortization as of the following date (dollars in thousands): June 30, 2021 Gross Carrying Value Accumulated Amortization Net Carrying Value Remaining Useful Life (In Years) Developed technology $ 3,060 $ (3,060) $ — — User base and customer relationships 5,050 (4,636) 414 3.8 Brand name 60 (60) — — Total Intangible Assets subject to amortization $ 8,170 $ (7,756) $ 414 Prosper’s intangible asset balance w as $0.4 million and $0.5 million at June 30, 2021 and December 31, 2020, respectively. The user base and customer relationships intangible assets are being amortized on an accelerated basis over a three Amortization expense for the three months ended June 30, 2021 and 2020 was not material and $0.1 million, respectively. Amortization expense for the six months ended June 30, 2021 and 2020 was $0.1 million and $0.1 million, respectively. Estimated amortization of purchased intangible assets for future periods is as follows (in thousands): Year Ending December 31, 2021 (remainder thereof) $ 86 2022 136 2023 107 2024 85 Total $ 414

OTHER LIABILITIES

OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2021
Other Liabilities [Abstract]
OTHER LIABILITIES	Other Liabilities Other Liabilities consist of the following (in thousands): June 30, 2021 December 31, 2020 Operating lease liabilities $ 13,540 $ 13,342 Paycheck Protection Program loan (Note 10) 8,547 8,505 Loan trailing fee liability 2,145 2,233 Deferred income tax liability 531 489 Financing lease liabilities 155 — Deferred revenue 26 63 Other 292 425 Total Other Liabilities $ 25,236 $ 25,057 Additionally, disclosures around the operating lease liabilities are included in Note 15.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
DEBT	Debt PWIT Warehouse Trust Agreements Prosper’s consolidated VIEs, PWIT and PWIIT (together, “Warehouse VIEs”), each entered into an agreement (together, “Warehouse Agreements”) with certain lenders for committed revolving lines of credit (“Warehouse Lines”) during 2018 and 2019, respectively. In connection with the Warehouse Agreements, the Warehouse VIEs each entered into a security agreement with a bank as administrative agent and a national banking association as collateral trustee and paying agent. Proceeds under the Warehouse Lines may only be used to purchase certain unsecured consumer loans and related rights and documents from Prosper and to pay fees and expenses related to the Warehouse Lines. Both Warehouse VIEs are consolidated because Prosper is the primary beneficiary of the VIEs. The assets of the VIEs can be used only to settle obligations of the VIEs. Additionally, the creditors of the Warehouse Lines have no recourse to the general credit of Prosper. The loans held in the Warehouse VIEs are included in Loans Held for Sale, at Fair Value and Warehouse Lines are in Warehouse Lines in the condensed consolidated balance sheets. Both Warehouse Agreements contain the same certain covenants including restrictions on each Warehouse VIE's ability to incur indebtedness, pledge assets, merge or consolidate and enter into certain affiliate transactions. Each Warehouse Agreement also requires Prosper to maintain a minimum tangible net worth of $25 million, minimum net liquidity of $15 million and a maximum leverage ratio of 5:1. Tangible net worth is defined as the sum of (i) (A) Convertible Preferred Stock, (B) total Stockholders’ Deficit and (C) Convertible Preferred Stock Warrant Liability, less the sum of (ii) (A) goodwill and (B) intangible assets. Net liquidity is defined as the sum of cash, cash equivalents and Available for Sale Investments. The leverage ratio is defined as the ratio of total consolidated indebtedness other than non-recourse securitization indebtedness, non-recourse or limited recourse warehouse indebtedness and borrower dependent notes, to tangible net worth. As of June 30, 2021, Prosper was in compliance with the covenants under each Warehouse Agreement. PWIT Warehouse Line On January 19, 2018, through PWIT, Prosper entered into a Warehouse Agreement for a Warehouse Line. Effective June 12, 2018, the Warehouse Agreement was amended. The amendments included increasing the committed line of credit from $100 million to $200 million, extending the term of the PWIT Warehouse Line (including the final maturity date), amending the monthly unused commitment fee and reducing the rate at which the PWIT Warehouse Line bears interest. Subsequently the Warehouse Agreement was amended on June 20, 2019 to extend the facility, to reduce the interest rate and unused commitment fee and to expand the eligibility criteria for unsecured consumer loans that can be financed through the PWIT Warehouse Line. It was amended again on May 19, 2021 to extend the facility, to reduce the interest and advance rates and to include provisions for an alternative benchmark rate in light of the ongoing phaseout of LIBOR. Under the amended agreement, proceeds of loans made under the PWIT Warehouse Line may be borrowed, repaid and reborrowed until the earlier of June 20, 2023 or the occurrence of any accelerated amortization event or event of default. Repayment of any outstanding proceeds will be made over the 24 month period ending June 20, 2025, excluding the occurrence of any accelerated amortization event or event of default. Under the amended agreement, the PWIT Warehouse Line bears interest at a rate of an established benchmark rate (currently LIBOR) plus 2.75% and has an advance rate of 87%. Additionally, the PWIT Warehouse Line bears a monthly unused commitment fee of 0.50% per annum on the undrawn portion available under the PWIT Warehouse Line. As of June 30, 2021, Prosper had $101.3 million in debt and accrued interest outstanding under the PWIT Warehouse Line. This debt is secured by an aggregate outstanding principal balance of $117.1 million included in “Loans Held for Sale, at Fair Value” on the condensed consolidated balance sheets. At June 30, 2021 the undrawn portion available under the Warehouse Line was $98.7 million. Prosper incurred $2.2 million of deferred debt issuance costs associated with the PWIT Warehouse Line, including $0.3 million from the amendment signed on May 19, 2021, which are included in “Prepaids and Other Assets” and amortized to interest expense over the term of the revolving arrangement. Prosper purchased a swaption to limit the Company's exposure to increases in LIBOR. The swaption is recorded on the consolidated balance sheet at fair value in Prepaids and Other Assets. Any changes in the fair value are recorded in the Change in Fair Value of Financial Instruments, Net on the Consolidated Statement of Operations. The fair value of the swaption was $0.1 million at June 30, 2021. PWIIT Warehouse Line On March 28, 2019, through PWIIT, Prosper entered into a second Warehouse Agreement for a $300 million Warehouse Line with a national banking association different than that of PWIT. Under the PWIIT Warehouse Agreement, proceeds of loans made under the PWIIT Warehouse Line may be borrowed, repaid, and reborrowed until the earlier of March 28, 2021 and at the occurrence of any accelerated amortization event or event of default. Repayment of any outstanding proceeds will be made over the 24-month period ending March 28, 2023, excluding the occurrence of any accelerated amortization event or event of default. On March 4, 2021, PMI extended its $300 million PWIIT Warehouse Line (“PWIIT Extension”). The PWIIT Extension consists of a $230 million Class A loan with the existing PWIIT Warehouse Line national banking association and a $70 million Class B loan with an asset manager. The advance rate on the PWIIT Extension is 90%. Under the PWIIT Extension, proceeds of loans made under the PWIIT Warehouse Line may be borrowed, repaid and reborrowed until the earlier of March 3, 2023 or the occurrence of any accelerated amortization event or event of default. Repayment of any outstanding proceeds will be made over a 24-month period ending March 4, 2025, excluding the occurrence of any accelerated amortization event or event of default. Under the PWIIT Extension, the Class A loan bears interest at a rate of the national banking association's asset-backed commercial paper rate, plus a spread of 2.05%. The spread increases by 0.375% during the first 12 months immediately following the termination of the revolving period with an additional increase of 0.375% one year later. Additionally, the Class A loan bears a monthly unused commitment fee of 0.50% per annum on the undrawn portion available under the Class A loan. The Class B loan bears interest at a rate of one-month LIBOR, plus a spread of 8.75%. The spread increases by 0.375% during the first twelve months immediately following the termination of the revolving period with an additional increase of 0.375% one year later. Additionally, the Class B loan bears a monthly unused commitment fee of 0.50% or 1.00% per annum on the undrawn portion available under the Class B loan, depending on the Class B loan utilization percentage. As of June 30, 2021, Prosper had $118.2 million in debt and accrued interest outstanding under the PWIIT Warehouse Line. This debt is secured by an aggregate outstanding principal balance of $132.0 million included in Loans Held for Sale, at Fair Value on the Consolidated Balance Sheets. At June 30, 2021 the undrawn portion available under the PWIIT Warehouse Line was $181.8 million. PMI incurred $1.3 million of debt issuance costs for the extension in March 2021, which are included in Prepaids and Other Assets and will be amortized to interest expense over the term of the revolving arrangement. Phaseout of LIBOR A portion of the interest rate charged on our Warehouse Lines is currently based on LIBOR. LIBOR has been the subject of reform and was expected to phase out by the end of fiscal 2021; however, on November 30, 2020, the ICE Benchmark Administration Limited (“ICE”) announced plans to delay the phase out of LIBOR to June 30, 2023. The consequences of the discontinuation of LIBOR cannot be entirely predicted but could impact the interest expense incurred on these debt instruments. We have negotiated alternatives to LIBOR on the PWIT and PWIIT Warehouse Lines, which we may renegotiate before LIBOR ceases to be a widely available reference rate. Paycheck Protection Program Loan The Paycheck Protection Program (“PPP”), established by the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and sponsored by the U.S. Small Business Administration (“SBA”), provides small businesses – sole proprietors, independent contractors, and, with certain industry exceptions, businesses with fewer than 500 employees – the opportunity to apply for a loan of up to $10 million to cover up to 24 weeks (the “covered period”) of payroll costs, including benefits. Funds may also be used to cover interest on mortgage obligations, leases, and utilities incurred or in place before February 15, 2020. PPP loan payments are deferred as described below, and, based on SBA guidance, will be forgiven as long as (i) loan proceeds are used for covered expenses, (ii) full-time employee headcount is maintained during the eight-week period covered by the PPP loan and (iii) compensation for employees who earned less than $100,000 on an annualized basis in 2019 is not reduced by more than 25% during the covered period. For purposes of calculating maximum loan eligibility, payroll costs per employee are capped at $100,000 on an annualized basis. In April 2020, the Company obtained an $8.4 million loan under the PPP. The loan accrues interest at one percent per annum and has a two-year term through April 2022. PMI has formally applied for forgiveness with the lender and the SBA, and that application remains under review. Pursuant to the Paycheck Protection Flexibility Act of 2020, PMI is permitted to defer monthly payments of principal and interest until such time as an approval or denial of forgiveness is received from the SBA. The Company used the PPP Loan proceeds to cover payroll costs, rent and utilities in accordance with the relevant terms and conditions of the CARES Act. As of June 30, 2021, principal and interest outstanding under the PPP loan totaled $8.5 million and is included in Other Liabilities on the accompanying condensed consolidated balance sheet.

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE	Net Income (Loss) Per Share PMI computes it net income (loss) per share in accordance with ASC Topic 260, Earnings Per Share (“ASC Topic 260”). Under ASC Topic 260, basic net income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period and excludes the effects of any potentially dilutive securities. Net income (loss) per share is calculated using the two-class method in accordance with ASC Topic 260. The two-class method allocates earnings that otherwise would have been available to common shareholders to holders of participating securities. Management considers all series of our Convertible Preferred Stock to be participating securities due to their rights to participate in dividends with Common Stock. As such, earnings allocated to these participating securities, which include participation rights in undistributed earnings, are subtracted from net income to determine total undistributed earnings to be allocated to common stockholders. All participating securities are excluded from basic weighted-average common shares outstanding. Prior to any conversion to common shares, each series of Prosper’s Convertible Preferred Stock is entitled to participate on an if-converted basis in distributions of earnings, when and if declared by the board of directors, that are made to common stockholders and consequently, these shares were considered participating securities. During the six months ended June 30, 2021 and June 30, 2020, certain shares issued as a result of the early exercise of stock options which are subject to a repurchase right by PMI were entitled to receive non-forfeitable dividends during the vesting period and consequently, are considered participating securities. The weighted average shares used in calculating basic and diluted net income (loss) per share excludes certain shares that are disclosed as outstanding shares in the condensed consolidated balance sheets because such shares are restricted as they were associated with options that were early exercised and continue to remain unvested. Basic and diluted income (loss) per share were calculated as follows for the periods presented (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2021 2021 2020 2021 2020 Numerator: Net (Loss) Income $ (5,805) $ 17,641 $ (50,694) $ 38,771 Plus: Return on Share Purchase — — — — Less: Net Income Allocated to Participating Securities — (13,153) — (28,908) Net (Loss) Income Attributable to Common Stockholders $ (5,805) $ 4,488 $ (50,694) $ 9,863 Denominator: Weighted average shares used in computing basic net (loss) income per share 70,868,080 68,455,641 70,110,288 68,454,872 Effect of dilutive securities: Stock options — 126,926 — 337,446 Convertible preferred stock warrants — 213,264,845 — 213,264,845 Weighted average shares used in computing diluted Net (Loss) Income per Share 70,868,080 281,847,412 70,110,288 282,057,163 Net (Loss) Income Per Share – Basic $ (0.08) $ 0.07 $ (0.72) $ 0.14 Net (Loss) Income Per Share – Diluted $ (0.08) $ 0.02 $ (0.72) $ 0.03 The following common stock equivalents were excluded from the computation of diluted net (loss) income per share for the periods presented because including them would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (shares) (shares) (shares) (shares) Excluded securities: Convertible preferred stock issued and outstanding, excluding shares held by consolidated VIE 158,365,655 209,613,570 158,365,655 209,613,570 Stock options issued and outstanding 74,638,057 73,045,220 73,986,598 72,460,458 Warrants issued and outstanding 1,080,349 1,080,349 1,080,349 1,080,349 Series E-1 convertible preferred stock warrants 35,544,141 — 35,544,141 — Series F convertible preferred stock warrants 177,720,704 — 177,720,704 — Total common stock equivalents excluded from diluted net (loss) income per common share computation 447,348,906 283,739,139 446,697,447 283,154,377

CONVERTIBLE PREFERRED STOCK, CO

CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK	Convertible Preferred Stock, Convertible Preferred Stock Warrant Liability and Common Stock Convertible Preferred Stock and Warrants Under PMI’s amended and restated certificate of incorporation, preferred stock is issuable in series, and the Board of Directors is authorized to determine the rights, preferences, and terms of each series. On July 13, 2020, the Company established Prosper Grantor Trust (“PGT”), a revocable grantor trust administered by an independent trustee, with the intention of contributing assets to PGT for the benefit of PMI employees in the event of a change in control through an Eligible Employee Retention Plan. PGT was determined to be a VIE and PMI was determined to be its primary beneficiary due to the fact that the Company, through its role as the grantor, has both (a) the power to direct the activities that most significantly affect the VIE’s economic performance, including its funding decisions and investment strategy, and (b) the obligation to absorb losses that could be potentially significant to the economic performance of the VIE by virtue of the Company’s requirement to fund PGT in the event that it is unable to meet its obligations to PMI’s employees. PMI also maintains a contingent call liability on PGT’s assets in the event of a bankruptcy. As a result, PGT is fully consolidated into PMI’s consolidated financial statements. On July 21, 2020, PGT entered into a Stock Transfer Agreement with a PMI investor to purchase 34,670,420 shares of Series A Convertible Preferred Stock and 16,577,495 shares of Series B Convertible Preferred Stock for nominal consideration. Upon execution of the Stock Transfer Agreement, these shares were purchased by a consolidated VIE of the Company, and thus the difference between the fair value of the repurchased stock and the purchase price is included in Convertible Preferred Stock Held by Consolidated VIE on PMI’s accompanying condensed consolidated balance sheet as of June 30, 2021. These shares remain outstanding for legal purposes and retain their voting rights, but are excluded from the earnings per share calculation. The number of authorized, issued and outstanding shares, their par value and liquidation preference for each series of convertible preferred stock as of June 30, 2021 are disclosed in the table below (amounts in thousands except share and par value amounts): Convertible Preferred Stock Par Value Authorized Shares Outstanding and Issued Shares Liquidation Preference, Outstanding Shares Series A $ 0.01 68,558,220 66,428,185 * $ 19,160 Series A-1 $ 0.01 24,760,915 22,515,315 45,031 Series B $ 0.01 35,775,880 35,127,160 * 21,190 Series C $ 0.01 24,404,770 24,404,770 70,075 Series D $ 0.01 23,888,640 23,888,640 165,000 Series E-1 $ 0.01 35,544,141 — — Series E-2 $ 0.01 16,858,078 — — Series F $ 0.01 177,720,707 3 — Series G $ 0.01 37,249,497 37,249,497 50,000 Total 444,760,848 209,613,570 $ 370,456 * Series A and Series B Convertible Preferred Stock totals are inclusive of 34,670,420 and 16,577,495 shares, respectively, held by PGT, a consolidated VIE. Dividends Dividends on shares of the Series A, Series B, Series C, Series D, Series E-1, Series E-2, Series F and Series G convertible preferred stock are payable only when, as, and if declared by the Board of Directors. No dividends will be paid with respect to the common stock until any declared dividends on the Series A, Series B, Series C, Series D, Series E-1, Series E-2, Series F, and Series G convertible preferred stock have been paid or set aside for payment to the Series A, Series B, Series C, Series D, Series E-1, Series E-2, Series F, and Series G convertible preferred stockholders. After payment of any such dividends, any additional dividends or distributions will be distributed among all holders of common stock and preferred stock in proportion to the number of shares of common stock that would be held by each such holder if all shares of preferred stock were converted to common stock at the then-effective conversion rate. The Series A-1 convertible preferred shares have no dividend rights. To date, no dividends have been declared on any of PMI’s preferred stock or common stock. Conversion Under the terms of PMI’s amended and restated certificate of incorporation, the holders of preferred stock have the right to convert such preferred stock into common stock at any time. In addition, all preferred stock automatically converts into common stock (i) immediately prior to the closing of an initial public offering that values Prosper at least at $2 billion and that results in aggregate proceeds to Prosper of at least $100 million or (ii) upon a written request from the holders of at least 60% of the voting power of the outstanding preferred stock (on an as-converted basis), provided that (i) the Series A-1 convertible preferred stock shall not be converted without at least 14% of the voting power of the outstanding Series A-1 convertible preferred stock; (ii) the Series D shall not be converted without at least 60% of the voting power of the outstanding Series D; (iii) the Series E-1 and Series E-2 shall not be converted without at least 60% of the voting power of the outstanding Series E-1 and Series E-2, voting together as a single class; (iv) the Series F shall not be converted without at least 60% of the voting power of the outstanding Series F, and (v) the shares of Series G Preferred Stock will not be automatically converted unless the holders of at least 60% of the outstanding shares of Series G Preferred Stock approve such conversion. In addition, if a holder of the Series A convertible preferred stock has converted any of the Series A convertible preferred stock, then all of such holder’s shares of Series A-1 convertible preferred stock also will be converted upon a liquidation event. In lieu of any fractional shares of common stock to which a holder would otherwise be entitled, PMI shall pay such holder cash in an amount equal to the fair market value of such fractional shares, as determined by its Board of Directors. At present, each of the Series A, Series B, Series C, Series D, Series E-1, Series E-2, and Series F convertible preferred stock converts into PMI common stock at a 1:1 ratio. The Series A-1 convertible preferred stock converts into common stock at a 1,000,000:1 ratio and the Series G convertible preferred stock converts into common stock at a 1:1.36 ratio. The Series G convertible preferred stock conversion ratio reflects the Series G true-up that occurred at end of the vesting period for the Series E-2 and Series F Preferred Stock warrants. For the Series G true-up, the conversion price of the Series G Convertible Preferred Stock was reduced to a number equal to the Series G Preferred Stock original issuance price, divided by the quotient obtained by dividing the Series G true-up amount by the total number of Series G Preferred Stock issued as of the Series G closing date. The Series G true-up amount means the aggregate number of shares of Series G Preferred Stock that would have been issued to the purchasers of the Series G Preferred Stock on the Series G closing date, if warrants to purchase shares of Series E-2 Preferred Stock or Series F Preferred Stock that were exercisable or exercised as of the true-up time (end of vesting period) had been exercisable or exercised as of such Series G closing date. Liquidation Rights PMI’s convertible preferred stock has been classified as temporary equity on the condensed consolidated balance sheets. The preferred stock is not redeemable; however, in the event of a voluntary or involuntary liquidation, dissolution, change in control or winding up of PMI, holders of the convertible preferred stock may have the right to receive its liquidation preference under the terms of PMI’s certificate of incorporation. Each holder of Series E-1, Series E-2, and Series F convertible preferred stock is entitled to receive prior and in preference to any distribution of proceeds from a liquidation event to the holders of Series A, Series B, Series C, Series D, Series G and Series A-1 convertible preferred stock or common stock, an amount per share for (i) each share of Series E-1 convertible preferred stock equal to the sum of the liquidation preference specified for such share and all declared but unpaid dividends, if any, on such share, (ii) each share of Series E-2 convertible preferred stock equal to the sum of two-thirds the liquidation preference specified for such share and all declared but unpaid dividends, if any, on such share, and (iii) each share of Series F convertible preferred stock equal to the sum of two-thirds of the liquidation preference specified for such share and all declared but unpaid dividends, if any, on such share. After the payment or setting aside for payment to the holders of Series E-1, Series E-2, and Series F convertible preferred stock, each holder of Series A, Series B, Series C and Series D, Series E-2, Series F, and Series G convertible preferred stock is entitled to receive, on a pari passu basis, prior to and in preference to any distribution of proceeds from a liquidation event to the holders of Series A-1 convertible preferred stock or common stock, (i) an amount per share for each share of Series E-2 and Series F convertible preferred stock equal to the sum of one-third of the liquidation preference specified for such share and all declared but unpaid dividends, if any, on such share, and (ii) an amount per share for each share of Series A, Series B, Series C, Series D and Series G convertible preferred stock equal to the sum of the liquidation preference specified for such share and all declared but unpaid dividends, if any, on such share. After the payment or setting aside for payment to the holders of Series A, Series B, Series C, Series D, Series E-1, Series E-2, Series F, and Series G convertible preferred stock, the holders of Series A-1 convertible preferred stock are entitled to receive, prior and in preference to any distribution of proceeds to the holders of common stock, an amount per share for each such share of Series A-1 convertible preferred stock equal to the sum of the liquidation preference specified for such share and all declared but unpaid dividends, if any, on such share. After the payment or setting aside for payment to the holders of Series A, Series B, Series C, Series D, Series E-1, Series E-2, Series F, Series G, and Series A-1 convertible preferred stock, the entire remaining proceeds legally available for distribution will be distributed pro rata to the holders of Series A convertible preferred stock and common stock in proportion to the number of shares of common stock held by them assuming the Series A convertible preferred stock has been converted into shares of common stock at the then effective conversion rate, provided that the maximum aggregate amount per share of Series A convertible preferred stock which the holders of Series A convertible preferred stock shall be entitled to receive is three times the original issue price for the Series A convertible preferred stock. At present, the liquidation preferences are equal to $0.29 per share for the Series A convertible preferred stock, $2.00 per share for the Series A-1 convertible preferred stock, $0.60 per share for the Series B convertible preferred stock, $2.87 per share for the Series C convertible preferred stock, $6.91 per share for the Series D convertible preferred stock, $0.84 per share for the Series E-1 convertible preferred stock, $0.84 per share for the Series E-2 convertible preferred stock, $0.84 per share for the Series F convertible preferred stock and $1.34 per share for the Series G convertible preferred stock. Voting Each holder of shares of convertible preferred stock is entitled to the number of votes equal to the number of shares of common stock into which such shares of convertible preferred stock could be converted and has voting rights and powers equal to the voting rights and powers of the common stock. The holders of convertible preferred stock and the holders of common stock vote together as a single class (except with respect to certain matters that require separate votes or as required by law), and are entitled to notice of any stockholders’ meeting in accordance with the Bylaws of PMI. Convertible Preferred Stock Warrant Liability Series E-1 Warrants In connection with the Settlement and Release Agreement dated November 17, 2016 among PMI, its wholly owned subsidiary Prosper Funding LLC (“PFL”) and Colchis, on December 16, 2016, PMI issued the First Series E-1 Warrant. The Second Series E-1 Warrant for an additional 15,277,006 shares of Series E-1 convertible preferred stock was granted on the signing of the Consortium Purchase Agreement (as defined in Note 15) on February 27, 2017. The warrants expire ten years from the dat e of issuance. For the three months ended June 30, 2021 and 2020, Prosper recognized $0.4 million of expense and $3.6 million of income, respectively, from the re-measurement of the fair value of the warrants. For the six months ended June 30, 2021 and 2020, Prosper recognized $7.5 million of expense and $12.8 million of income, respectively, from the re-measurement of the fair value of the warrants. The income or expense resulted from the remeasurement of the fair value of the warrants is recorded in Change in Fair Value of Convertible Preferred Stock Warrants on the condensed consolidated statements of operations. To determine the fair value of the Series E-1 Warrants, the Company first determined the value of a share of a Series E-1 Convertible Preferred Stock. To determine the fair value of the Convertible Preferred Stock, the Company first derived the business enterprise value (“BEV”) of the Company using a variety of valuation methods, including discounted cash flow models and market based methods, as deemed appropriate under the circumstances applicable at the valuation date. Once the Company determined an estimated BEV, the option pricing method ("OPM") was used to allocate the BEV to the various classes of our equity, including our preferred stock. The concluded per share value for the Series E-1 Convertible Preferred Stock was utilized as an input to the Black-Scholes option pricing model. The Company determined the fair value of the outstanding Series E-1 Warrants utilizing the following assumptions as of the following dates: June 30, 2021 December 31, 2020 Volatility 58.0 % 60.0 % Risk-free interest rate 0.40 % 0.20 % Expected term (in years) 2.75 2.75 Dividend yield — % — % The above assumptions were determined as follows: Volatility: The volatility is derived from historical volatilities of several unrelated publicly listed peer companies over a period approximately equal to the term of the warrant as the Company has limited information on the volatility of its preferred stock since there is currently no trading history. When making the selections of industry peer companies to be used in the volatility calculation, the Company considered the size, operational, and economic similarities to the Company’s principal business operations. Risk-Free Interest Rate: The risk-free interest rate is based on the U.S. Treasury yield in effect as of June 30, 2021, and for zero coupon U.S. Treasury notes with maturities approximately equal to the term of the warrant. Expected Term: The expected term is the period of time for which the warrants are expected to be outstanding. Dividend Yield: The expected dividend assumption is based on the Company’s current expectations about the Company’s anticipated dividend policy. Series F Warrants In connection with the Consortium Purchase Agreement (as described in Note 16 of PMI’s 10-K for the year ended December 31, 2021) on February 27, 2017, PMI issued warrants to purchase up to 177,720,706 shares of PMI's Series F convertible preferred stock at $0.01 per share. The warrants expire ten years from the date of issuance. For the three months ended June 30, 2021 and 2020, Prosper recognized $5.3 million of expense and $16.0 million of income, respectively, from the re-measurement of the fair value of the warrants. For the six months ended June 30, 2021 and 2020, Prosper recognized $42.7 million of expense and $62.2 million of income, respectively, from the re-measurement of the fair value of the warrants. The income or expense resulting from changes in the fair value of the warrant is recorded through Change in Fair Value of Convertible Preferred Stock Warrants on the condensed consolidated statements of operations . To determine the fair value of the Series F Warrants, the Company first determined the value of a share of a Series F Convertible Preferred Stock. To determine the fair value of the Convertible Preferred Stock, the Company first derived the BEV using valuation methods, including a combination of methods, as deemed appropriate under the circumstances applicable at the valuation date. Once the Company determined an estimated BEV, the OPM was used to allocate the BEV to the various classes of Prosper's equity, including our preferred stock. The concluded per share value for the Series F Convertible Preferred Stock warrants utilized the Black-Scholes option pricing model. The Company determined the fair value of the outstanding Series F Warrants utilizing the following assumptions as of the following dates: June 30, 2021 December 31, 2020 Volatility 58.0 % 60.0 % Risk-free interest rate 0.40 % 0.20 % Expected term (in years) 2.75 2.75 Dividend yield — % — % The above assumptions were determined using the same criteria described above for the Series E-1 Warrants. The combined activity of the Convertible Preferred Stock Warrant Liability for the six months ended June 30, 2021 and 2020 are as follows (in thousands): Warrant Activity Balance at January 1, 2021 $ 112,319 Change in fair value 50,117 Balance at June 30, 2021 $ 162,436 Warrant Activity Balance at January 1, 2020 $ 149,996 Change in fair value (74,998) Balance at June 30, 2020 $ 74,998 Common Stock PMI, through its Amended and Restated Certificate of Incorporation, is the sole issuer of common stock and related options, restricted stock units ("RSUs") and warrants. On February 16, 2016, PMI amended and restated its Certificate of Incorporation to, among other things, effect a 5-for-1 forward stock split. On September 20, 2017, PMI further amended its Amended and Restated Certificate of Incorporation to increase the number of shares of common stock authorized for issuance. The total number of shares of stock which PMI has the authority to issue is 1,069,760,848, consisting of 625,000,000 shares of common stock, $0.01 par value per share, and 444,760,848 shares of preferred stock, $0.01 par value per share. As of June 30, 2021, 71,829,765 shares of common stock were issued and 70,893,830 shares of common stock were outstanding. As of December 31, 2020, 70,075,307 shares of common stock were issued and 69,139,372 shares of common stock were outstanding. Each holder of common stock is entitled to one vote for each share of common stock held. Common Stock Issued upon Exercise of Stock Options

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	Stock-Based CompensationPMI grants equity awards primarily through its Amended and Restated 2005 Stock Option Plan (the “2005 Plan”), which was approved as amended and restated by its stockholders on December 1, 2010; and its 2015 Equity Incentive Plan, which was approved by its stockholders on April 7, 2015 and subsequently amended by an Amendment No. 1, Amendment No. 2 and Amendment No. 3, which were approved by PMI's stockholders effective as of February 15, 2016, May 31, 2016, and September 5, 2018 respectively (as amended, the “2015 Plan”). In March 2015, the 2005 Plan expired, except that any awards granted under the 2005 Plan prior to its expiration remain in effect pursuant to their terms. Stock Option Reprice On May 3, 2016 and March 17, 2017, the Compensation Committee of the Board of Directors of PMI approved two separate stock option repricing programs authorizing PMI’s officers to reprice certain outstanding stock options held by employees and directors that had exercise prices above the current fair market value of PMI’s Common Stock on those respective dates. On August 11, 2020, the Compensation Committee of the Board of Directors of PMI approved a stock option repricing program (the “2020 Repricing” and together with the 2016 Repricing and the 2017 Repricing, the “Repricings”) authorizing PMI’s officers to reprice certain outstanding stock options held by employees and directors that have exercise prices above the current fair market value of PMI’s common stock. The repricing was effected on August 11, 2020 for eligible directors and employees. PMI believes that the Repricings will encourage the continued service of valued employees and directors, and motivate such service providers to perform at high levels, both of which are critical to the Company’s continued success. PMI expects to incur additional stock based compensation charges as a result of the Repricings. The financial statement impact of the above Repricings was not material for the six months ended June 30, 2021. As of June 30, 2021, the unamortized Repricings expense (net of forfeitures) of $46 thousand will be recognized over the remaining weighted-average vesting period of 1.8 years. Stock Option Activity Stock option activity under the 2005 Plan and 2015 Plan is summarized for the six months ended June 30, 2021 below: Options Issued and Outstanding Weighted Average Exercise Price Balance as of January 1, 2021 72,915,449 $ 0.02 Options issued 8,668,166 $ 0.10 Options exercised (1,754,458) $ 0.02 Options forfeited (11,742,812) $ 0.02 Options expired (14,595) $ 0.02 Balance as of June 30, 2021 68,071,750 $ 0.03 Options vested and expected to vest as of June 30, 2021 52,252,350 $ 0.03 Options vested and exercisable at June 30, 2021 47,648,686 $ 0.02 Other Information Regarding Stock Options The weighted-average remaining life for options outstanding as of June 30, 2021 was 6.87 years. The fair value of options granted to employees is estimated on the grant date using the Black-Scholes option valuation model. This valuation model for stock-based compensation expense requires PMI to make assumptions and judgments about the variables used in the calculation, including the fair value of PMI’s common stock, the expected term (the period of time that the options granted are expected to be outstanding), the volatility of PMI’s common stock, a risk-free interest rate, and expected dividends. Given the absence of a publicly traded market, the Company considered numerous objective and subjective factors to determine the fair value of PMI’s common stock at each grant date. These factors included, but were not limited to: (i) contemporaneous valuations of common stock performed by unrelated third-party specialists, (ii) the prices for PMI’s preferred stock sold to outside investors, (iii) the rights, preferences and privileges of PMI’s preferred stock relative to PMI’s common stock, (iv) the lack of marketability of PMI’s common stock, (v) developments in the business, (vi) secondary transactions of PMI’s common and preferred shares, and (vii) the likelihood of achieving a liquidity event, such as an initial public offering or a merger or acquisition of Prosper, given prevailing market conditions. As PMI’s stock is not publicly traded, volatility for stock options is based on an average of the historical volatilities of the common stock of several entities with characteristics similar to those of PMI. The expected term assumptions were determined based on the vesting terms, exercise terms and contractual lives of the options using the simplified method. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. PMI uses an expected dividend yield of zero as it does not anticipate paying any dividends in the foreseeable future. PMI also estimates forfeitures of unvested stock options. Expected forfeitures are based on the Company’s historical experience. To the extent actual forfeitures differ from the estimates, the difference will be recorded as a cumulative adjustment in the period estimates are revised. No compensation cost is recorded for options that do not vest. The fair value of PMI’s stock option awards granted during the three and six months ended June 30, 2021 and 2020 was estimated at the date of grant using the Black-Scholes model with the following average assumptions: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Volatility of common stock 67.60 % 55.37 % 64.00 % 47.93 % Risk-free interest rate 1.04 % 0.44 % 1.01 % 0.66 % Expected life 6.0 years 6.0 years 6.0 years 6.0 years Dividend yield — % — % — % — % Restricted Stock Unit Activity For the six months ended June 30, 2021, PMI did not grant any RSUs. In previous years, PMI granted RSUs to certain employees that are subject to three-year or four-year vesting terms and the occurrence of a liquidity event. The following table summarizes the number of PMI’s RSU activity for the six months ended June 30, 2021: Number of Shares Weighted-Average Grant Date Fair Value Unvested at January 1, 2021 4,661,141 $ 0.91 Forfeited (1,786,793) $ 0.54 Unvested at June 30, 2021 2,874,348 $ 1.14 Share Based Compensation The following table presents the amount of stock-based compensation related to stock-based awards granted to employees recognized in Prosper’s condensed consolidated statements of operations for the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Origination and servicing $ 30 $ 34 $ 62 $ 72 Sales and marketing 16 15 32 26 General and administrative 222 343 493 799 Total stock-based compensation $ 268 $ 392 $ 587 $ 897 Prosper capitalized stock-based compensation as internal-use software and website development costs of an immaterial amount and $0.1 million for the three months ended June 30, 2021 and 2020, respectively, and $0.1 million and $0.1 million for the six months ended June 30, 2021 and 2020, respectively. As of June 30, 2021 , the unamortized stock-based compensation expense, adjusted for forfeiture estimates, related to unvested stock-based awards was approximately $1.3 million, which will be recognized over a remaining weighted-average vesting period of approximately 2.0 years.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
INCOME TAXES	Income Taxes For the three months ended June 30, 2021 and 2020, PMI recognized $21 thousand and $34 thousand of income tax expense, respectively. For the six months ended June 30, 2021 and 2020, PMI recognized $42 thousand and $68 thousand of income tax expense, respectively. The income tax expense relates to state income tax expense and the amortization of tax deductible goodwill which gives rise to an indefinite-lived deferred tax liability. No other income tax expense or benefit was recorded for the six month periods ended June 30, 2021 and 2020 due to a full valuation allowance recorded against the Company’s deferred tax assets . Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize our existing deferred tax assets. On the basis of this evaluation, it is not more likely than not that our deferred tax assets will be realized and therefore a full valuation allowance has been recorded.
Prosper Funding LLC
Entity Information [Line Items]
INCOME TAXES	Income TaxesPFL incurred no income tax provision for the six months ended June 30, 2021 and June 30, 2020. PFL is a U.S. disregarded entity and its income and loss are included in the income tax reporting of its parent, PMI. Since PMI is in a taxable loss position, is not currently subject to income taxes, and has fully reserved against its deferred tax asset, the net effective tax rate for PFL is 0%.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
LEASES	Leases Prosper has operating leases for corporate offices and datacenters. These leases have remaining lease terms of one year to six years. Some o f the lease agreem ents include options to extend the lease term for up to an additional five years. Rental expense under operating lease arrangements was $1.1 million and $1.5 million for the three months ended June 30, 2021 and 2020, respectively, and $2.2 million an d $3.0 million for the six months ended June 30, 2021 and 2020, respectively. Additionally, Prosper subleases certain leased office space to third parties when it determines there is excess leased capacity. Sublease income from operating lease arrangements was $0.1 million and $0.2 million for the three months ended June 30, 2021 and 2020, respectively, and $0.2 million and $0.3 million for the six months ended June 30, 2021 and 2020, respectively. Operating Lease Right-of-Use (“ROU”) Assets The following table summarizes the operating lease right-of-use assets as of June 30, 2021, which are included in “Property and Equipment, Net” on the condensed consolidated balance sheets. June 30, 2021 Gross Carrying Value Accumulated Amortization Net Carrying Value ROU Assets - Office buildings $ 16,756 $ 7,719 $ 9,037 ROU Assets - Other 776 161 615 Total right-of-use assets subject to amortization $ 17,532 $ 7,880 $ 9,652 The Company identified certain impairment triggers related to its ROU assets in the second quarter of 2020, primarily due to the non-renewal of certain sublease agreements and the time expected to find new subtenants. As a result of impairment testing performed on these ROU assets, the Company recorded an impairment charge of $0.2 million for the three months ended June 30, 2020. No impairment was identified in 2021. Lease Liabilities Future maturities of operating lease liabilities as of June 30, 2021 were as follows (in thousands). The present value of the future minimum lease payments represent our operating lease liabilities as of June 30, 2021 and are included in " Other Liabilities June 30, 2021 Remainder of 2021 $ 2,816 2022 5,831 2023 2,142 2024 1,360 2025 1,395 Thereafter 1,218 Total future minimum lease payments $ 14,762 Less imputed interest (1,222) Present value of future minimum lease payments $ 13,540 Because the rate implicit in each lease is not readily determinable, we use our incremental borrowing rate to determine the present value of the lease payments. Other information related to leases was as follows (dollars in thousands): June 30, 2021 Cash paid for operating leases year-to-date $ 2,614 ROU assets obtained in exchange for new operating lease obligations year-to-date $ 1,773 Weighted average remaining lease term (in years) 3.38 years Weighted average discount rate 5.48 %

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
COMMITMENTS AND CONTINGENCIES	Commitments and Contingencies In the normal course of its operations, Prosper becomes involved in various legal actions. Prosper maintains provisions it considers to be adequate for such actions. Prosper does not believe it is probable that the ultimate liability, if any, arising out of any such matters will have a material effect on Prosper's financial condition, results of operations or cash flows. Operating Commitments Prosper has entered into an agreement with WebBank, under which all Borrower Loans originated through the marketplace are made by WebBank under its bank charter. On June 25, 2021, PMI, along with its wholly-owned subsidiary Prosper Funding LLC, and WebBank entered into: (i) a Fifth Amendment (the “Sale Agreement Amendment”) to the Asset Sale Agreement, dated July 1, 2016, between Prosper Funding LLC and WebBank (the “Sale Agreement”); (ii) a Sixth Amendment (the “Marketing Agreement Amendment”) to the Marketing Agreement, dated July 1, 2016, between PMI and WebBank (the “Marketing Agreement”); and (iii) a Third Amendment (the “Purchase Agreement Amendment”) to the Stand By Purchase Agreement, dated July 1, 2016, between PMI and WebBank (the “Purchase Agreement” and, collectively with the Sale Agreement and the Marketing Agreement, the “Origination and Sale Agreements”). The Sale Agreement Amendment, the Marketing Agreement Amendment, and the Purchase Agreement Amendment, collectively, are hereinafter referred to as the “Amendments.” The Sale Agreement Amendment, among other things, extends the term of the Sale Agreement to February 1, 2025 and amends certain collateral requirements under the Sale Agreement. The Marketing Agreement Amendment, among other things, extends the term of the Marketing Agreement to February 1, 2025 and sets forth the amended terms and conditions of certain fees owed by the Registrants to WebBank under the Marketing Agreement. The Purchase Agreement Amendment amends certain collateral requirements of PMI under the Purchase Agreement. Pursuant to the Marketing Agreement Amendment, the marketing fee that Prosper receives in connection with the origination of each loan is partially reduced by an amount (the “Designated Amount”) calculated as a percentage of the principal amount of such loan based on the aggregate principal amount of loans originated for the applicable month. To the extent the aggregate Designated Amount for all loans originated during any month is less than $143,500 through February 1, 2022, and $100,000 thereafter through February 1, 2025, Prosper is required to pay WebBank an amount equal to such deficiency. Accordingly, the minimum fee for the remaining six months of 2021 is $0.9 million . The minimum fee is then $1.2 million for each year from 2022 through 2024, and $0.1 million in 2025. Additionally, under the agreement with WebBank, Prosper is required to maintain minimum net liquidity of $15.0 million at all times during the term of the agreement. Net liquidity is defined as the sum of Cash, Cash Equivalents and Available for Sale Investments. Violation of this covenan t can result in termination of the contract with WebBank. As of June 30, 2021, Prosper was in compliance with the covenant. Loan Purchase Commitments Prosper entered into an agreement with WebBank to purchase $19.7 million of Borrower Loans that WebBank originated during the last two business days of the quarter ended June 30, 2021. Prosper will purchase these Borrower Loans within the first three business days of the quarter ending September 30, 2021. Repurchase Obligation Under the terms of the loan purchase agreements between Prosper and investors that participate in the Whole Loan Channel, Prosper may, in certain circumstances, become obligated to repurchase a Borrower Loan from an investor. Generally, these circumstances include the occurrence of verifiable identity theft, the failure to properly follow loan listing or bidding protocols or a violation of the applicable federal, state or local lending laws. Prosper recognizes a liability at fair value for the repurchase obligation when the Borrower Loans are sold. The fair value of the repurchase obligation is estimated based on historical experience. Repurchased Borrower Loans associated with violations of federal, state or local lending laws or verifiable identity theft are written off at the time of repurchase. The maximum potential amount of future payments associated with this obligation is the outstanding balances of the Borrower Loans issued through the Whole Loan Channel, which at June 30, 2021 is $2.6 billion. Prosper has accrued $0.3 million and $0.2 million as of June 30, 2021 and December 31, 2020, respectively, in regard to this obligation. Regulatory Contingencies Prosper accrues for contingencies when a loss from such contingencies is probable and the amount of loss can be reasonably estimated. In determining whether a loss is probable and if it is possible to quantify the amount of the estimated loss, Prosper reviews and evaluates its litigation and regulatory matters on at least a quarterly basis in light of potentially relevant factual and legal developments. If Prosper determines that an unfavorable outcome is not probable or that the amount of a loss cannot be reasonably estimated, Prosper does not accrue for a potential litigation loss. If an unfavorable outcome is probable and Prosper can estimate a range of outcomes, an amount is recorded which management considers to be the best estimate within the range of potential losses that are both probable and estimable; however, if management cannot quantify the amount of the estimated loss, then the low end of the range of the potential losses is recorded. West Virginia Matter In January 2018, the Attorney General of the State of West Virginia (the “Attorney General”) initiated discussions regarding certain acts and practices of PMI and PFL that the Attorney General asserts may have violated the West Virginia Consumer Credit and Protection Act (the “Consumer Act”), to which Prosper responded with such information as was requested by the Attorney General. Following a period of more than a year with limited to no communication, in February 2020, Prosper received a proposed Assurance of Discontinuance (an “AOD”) from the Attorney General requesting that, without in any way admitting that any of its prior practices were in violation of the Consumer Act, Prosper agree to certain terms and conditions regarding its past and potential future conduct of its business with respect to customers in West Virginia, including a release by the Attorney General of any claims it may have related to the matters identified in the AOD. Prosper is evaluating and intends to discuss the proposed terms in the AOD with the Attorney General. We cannot predict the outcome of the matter and any potential fines or penalties, if any, that may arise from the matter. Further, we are unable to estimate a range of outcomes and as a result no accrual has been made. No loans have been originated through the Prosper platform to West Virginians since June 2016.
Prosper Funding LLC
Entity Information [Line Items]
COMMITMENTS AND CONTINGENCIES	Commitments and Contingencies Operating Commitments Prosper has entered into an agreement with WebBank, under which all Borrower Loans originated through teh marketplace are made by WebBank under its bank charter. On June 25, 2021, PMI, along with PFL, and WebBank entered into: (i) a Fifth Amendment (the “Sale Agreement Amendment”) to the Asset Sale Agreement, dated July 1, 2016, between PFL and WebBank (the “Sale Agreement”); (ii) a Sixth Amendment (the “Marketing Agreement Amendment”) to the Marketing Agreement, dated July 1, 2016, between PMI and WebBank (the “Marketing Agreement”); and (iii) a Third Amendment (the “Purchase Agreement Amendment”) to the Stand By Purchase Agreement, dated July 1, 2016, between PMI and WebBank (the “Purchase Agreement” and, collectively with the Sale Agreement and the Marketing Agreement, the “Origination and Sale Agreements”). The Sale Agreement Amendment, the Marketing Agreement Amendment, and the Purchase Agreement Amendment, collectively, are hereinafter referred to as the “Amendments.” The Sale Agreement Amendment, among other things, extends the term of the Sale Agreement to February 1, 2025 and amends certain collateral requirements under the Sale Agreement. The Marketing Agreement Amendment, among other things, extends the term of the Marketing Agreement to February 1, 2025 and sets forth the amended terms and conditions of certain fees owed by the Registrants to WebBank under the Marketing Agreement. The Purchase Agreement Amendment amends certain collateral requirements of Prosper under the Purchase Agreement. Pursuant to the Marketing Agreement Amendment, the marketing fee that Prosper receives in connection with the origination of each loan is partially reduced by an amount (the “Designated Amount”) calculated as a percentage of the principal amount of such loan based on the aggregate principal amount of loans originated for the applicable month. To the extent the aggregate Designated Amount for all loans originated during any month is less than $143,500 through February 1, 2022, and $100,000 thereafter through February 1, 2025, Prosper is required to pay WebBank an amount equal to such deficiency. Accordingly, the minimum fee for the remaining six months of 2021 is $0.9 million. The minimum fee is then $1.2 million for each year from 2022 through 2024, and $0.1 million in 2025. Additionally, under the agreement with WebBank, Prosper is required to maintain minimum net liquidity of $15 million at all times during the term of the agreement. Net liquidity is defined as the sum of Cash, Cash Equivalents and Available for Sale Investments. Violation of this covenant can result in termination of the contract with WebBank. As of June 30, 2021, the Company was in compliance with the covenant. Loan Purchase Commitments Under the terms of PFL’s agreement with WebBank, PFL is committed to purchase $19.7 million of Borrower Loans that WebBank originated during the last two business days of the quarter ended June 30, 2021. PFL will purchase these Borrower Loans within the first three business days of the quarter ending September 30, 2021. Repurchase Obligation Under the terms of the loan purchase agreements between PFL and investors that participate in the Whole Loan Channel, PFL may, in certain circumstances, become obligated to repurchase a Borrower Loan from an investor. Generally, these circumstances include the occurrence of verifiable identity theft, the failure to properly follow loan listing or bidding protocols, or a violation of the applicable federal, state, or local lending laws. The fair value of the indemnification and repurchase obligation is estimated based on historical experience. PFL recognizes a liability for the repurchase and indemnification obligation when the Borrower Loans are issued. Indemnified or repurchased Borrower Loans associated with violations of federal, state, or local lending laws or verifiable identity theft are written off at the time of repurchase or at the time an indemnification payment is made. The maximum potential amount of future payments associated under this obligation is the outstanding balances of the Borrower Loans issued through the Whole Loan Channel, which as of June 30, 2021 is $2.6 billion. PFL has acc rued $0.3 million and $0.2 million as of June 30, 2021 and December 31, 2020, respectively, in regard to this obligation. Regulatory Contingencies PFL accrues for contingencies when a loss from such contingencies is probable and the amount of loss can be reasonably estimated. In determining whether a loss is probable and if it is possible to quantify the amount of the estimated loss, PFL reviews and evaluates its litigation and regulatory matters on at least a quarterly basis in light of potentially relevant factual and legal developments. If PFL determines that an unfavorable outcome is not probable or that the amount of a loss cannot be reasonably estimated, PFL does not accrue for a potential litigation loss. If an unfavorable outcome is probable and PFL can estimate a range of outcomes, PFL record the amount management considers to be the best estimate within the range of potential losses that are both probable and estimable; however, if management cannot quantify the amount of the estimated loss, then PFL records the low end of the range of those potential losses. West Virginia Matter In January 2018, the Attorney General of the State of West Virginia (the “Attorney General”) initiated discussions regarding certain acts and practices of PMI and PFL that the Attorney General asserts may have violated the West Virginia Consumer Credit and Protection Act (the “Consumer Act”), to which PMI responded with such information as was requested by the Attorney General. Following a period of more than a year with limited to no communication, in February 2020, PMI received a proposed Assurance of Discontinuance (an “AOD”) from the Attorney General requesting that, without in any way admitting that any of its prior practices were in violation of the Consumer Act, PMI agreed to certain terms and conditions regarding its past and potential future conduct of its business with respect to customers in West Virginia, including a release by the Attorney General of any claims it may have related to the matters identified in the AOD. PMI is evaluating and intends to discuss the proposed terms in the AOD with the Attorney General. We cannot predict the outcome of the matter and any potential fines or penalties, if any, that may arise from the matter. Further, we are unable to estimate a range of outcomes and as a result no accrual has been made. No loans have been originated through the PFL platform to West Virginians since June 2016.

RELATED PARTIES

RELATED PARTIES	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
RELATED PARTIES	Related Parties Since Prosper’s inception, it has engaged in various transactions with its directors, executive officers, and holders of more than 10% of its voting securities, and immediate family members and other affiliates of its directors, executive officers, and 10% stockholders. Prosper believes that all of the transactions described below were made on terms no less favorable to Prosper than could have been obtained from unaffiliated third parties. Prosper’s executive officers, directors who are not executive officers, and certain affiliates participate in its marketplace by placing bids and purchasing Notes. The aggregate amount of the Notes purchased and the income earned by parties deemed to be affiliates and related parties of Prosper for the three and six months ended June 30, 2021 and June 30, 2020, as well as the Notes outstanding as of June 30, 2021 and December 31, 2020 are summarized below (in thousands): Aggregate Amount of Interest Earned on Notes Related Party 2021 2020 2021 2020 Executive officers and management $ 9 $ 6 $ 2 $ 1 Directors (excluding executive officers and management) 20 110 — 14 Total $ 29 $ 116 $ 2 $ 15 Aggregate Amount of Interest Earned on Notes Related Party 2021 2020 2021 2020 Executive officers and management $ 17 $ 12 $ 3 $ 3 Directors (excluding executive officers and management) 20 231 — 29 Total $ 37 $ 243 $ 3 $ 32 Notes Balance as of Related Party June 30, 2021 December 31, Executive officers and management $ 43 $ 41 Directors (excluding executive officers and management) 18 — Total $ 61 $ 41
Prosper Funding LLC
Entity Information [Line Items]
RELATED PARTIES	Related PartiesSince inception, PFL has engaged in various transactions with its directors, executive officers, PMI, and immediate family members and other affiliates of its directors, executive officers, and PMI. PFL believes that all of the transactions described below were made on terms no less favorable to PFL than could have been obtained from unaffiliated third parties. PFL’s executive officers and directors who are not executive officers participate in its marketplace by placing bids and purchasing Notes. The aggregate amount of the Notes purchased and the income earned by parties deemed to be related parties of PFL for the six months ended June 30, 2021 and 2020 are summarized below (in thousands): Aggregate Amount of Notes Purchased Interest Earned on Notes Three Months Ended June 30, Three Months Ended June 30, Related Party 2021 2020 2021 2020 Executive officers and management $ 9 $ 6 $ 2 $ 1 Directors (excluding executive officers and management) — — — — Total $ 9 $ 6 $ 2 $ 1 Aggregate Amount of Notes Purchased Interest Earned on Notes Six Months Ended June 30, Six Months Ended June 30, Related Party 2021 2020 2021 2020 Executive officers and management $ 17 $ 12 $ 3 $ 3 Directors (excluding executive officers and management) — — — — Total $ 17 $ 12 $ 3 $ 3 The balance of Notes held by officers and directors who are not executive officers are as follows (in thousands): Notes Balance as of Related Party June 30, 2021 December 31, 2020 Executive officers and management $ 43 $ 41 Directors (excluding executive officers and management) — — Total $ 43 $ 41

SIGNIFICANT CONCENTRATIONS

SIGNIFICANT CONCENTRATIONS	6 Months Ended
	Jun. 30, 2021
Risks and Uncertainties [Abstract]
SIGNIFICANT CONCENTRATIONS	Significant Concentrations Prosper is dependent on third party funding sources such as banks, asset managers, investment funds and Warehouse Lines to provide the funds to allow WebBank to originate Borrower Loans that the third party funding sources will later purchase. Of all Borrower Loans originated in the three months ended June 30, 2021, one individual party purchased 27.7% of such loans, and the Company’s Warehouse VIEs purchased 10.7% of such loans. For the three months ended June 30, 2020, three individual parties purchased 12.8%, 17.9% and 19.0% of all Borrower Loans originated, and the Company’s Warehouse VIEs purchased 38.8% of such loans. Of all Borrower Loans originated in the six months ended June 30, 2021, one individual party purchased 28.2% of such loans, and the Company’s Warehouse VIEs purchased 12.1% of such loans. For the six months ended June 30, 2020, three individual parties purchased 10.6%, 17.1% and 13.5%, respectively, of all Borrower Loans originated, and the Company’s Warehouse VIEs purchased 20.1% of such loans. These purchases reflect that a significant portion of Prosper’s business is dependent on funding through the Whole Loan Channel, through which 88% and 91% of Borrower Loans were originated in the six months ended June 30, 2021 and June 30, 2020, respectively. Prosper receives all of its transaction fee revenue from WebBank. Prosper earns a transaction fee from WebBank for its services in facilitating originations of Borrower Loans issued by WebBank. The rate of the transaction fee for each individual Borrower Loan is based on the term and credit grade of the Borrower Loan. No individual borrower or investor accounted for 10% or more of consolidated net revenue for any of the periods presented .

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNT POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
Basis of Presentation	Prosper Marketplace, Inc. (“PMI”) was incorporated in the state of Delaware on March 22, 2005. Except as the context requires otherwise, as used in these notes to the condensed consolidated financial statements of PMI, “Prosper,” “we,” “us,” and “our” refer to PMI and its wholly-owned subsidiaries, on a consolidated basis. The unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and disclosure requirements for interim financial information and the requirements of Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. The unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2020. The balance sheet at December 31, 2020 has been derived from the audited financial statements at that date. Management believes these unaudited interim condensed consolidated financial statements reflect all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the results for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. The preparation of Prosper’s condensed consolidated financial statements and related disclosures in conformity with US GAAP requires management to make judgments, assumptions and estimates that affect the amounts reported in Prosper’s financial statements and accompanying notes. Management bases its estimates on historical experience and on various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of certain assets and liabilities. These judgments, estimates and assumptions are inherently subjective in nature and actual results may differ from these estimates and assumptions. The accompanying interim condensed consolidated financial statements include the accounts of PMI, its wholly-owned subsidiaries and consolidated variable interest entities (“VIEs”). All intercompany balances have been eliminated in consolidation. Securitization Notes are notes held by certain third-party investors pursuant to Prosper’s securitization transactions, and are distinguishable from the borrower payment dependent Notes available to investors through our Note Channel.
Fair Value Measurements	Fair Value Measurements Financial instruments measured at fair value consist principally of Borrower Loans, Loans Held for Sale, Servicing Assets, Loan Trailing Fee Liabilities (Note 9), Notes, Certificates Issued by Securitization Trust and Convertible Preferred Stock Warrant Liability. The estimated fair values of other financial instruments, including Cash and Cash Equivalents, Restricted Cash, Accounts Receivable, Accounts Payable and Accrued Liabilities, and Payable to Investors approximate their carrying values because of their short-term nature. The estimated fair values of the Paycheck Protection Program loan (Note 9 and 10), Notes Issued by Securitization Trust and Warehouse Lines do not approximate their carrying values due primarily to differences in the stated and market rates associated with these instruments.
Restricted Cash	Restricted Cash Restricted Cash consists primarily of cash deposits, money market funds and short-term certificate of deposit accounts held as collateral as required for long term leases, loan funding and servicing activities, and cash that investors have on our marketplace that has not yet been invested in Borrower Loans or disbursed to the investor.
Borrower Loans, Loans Held for Sale, Notes and Certificates Issued by Securitization Trust	Borrower Loans, Loans Held for Sale, Notes and Certificates Issued by Securitization Trust Borrower Loans are funded either through the Note Channel or through the Whole Loan Channel. Through the Note Channel, Prosper purchases Borrower Loans from WebBank, then issues Notes and holds the Borrower Loans until maturity. The obligation to repay a series of Notes issued through the Note Channel is dependent upon the repayment of the associated Borrower Loan. Borrower Loans funded and Notes issued through the Note Channel are carried on Prosper’s condensed consolidated balance sheets as assets and liabilities, respectively. In 2019, Prosper began refinancing the purchase of Borrower Loans through the Whole Loan Channel through securitization transactions, which issue senior notes, risk retention interests and residual certificates. Associated securitization trusts are deemed consolidated VIEs, and as a result the Borrower Loans held in the securitization trusts are included in “Borrower Loans, at Fair Value”. Senior notes sold to third party investors are included in “Notes Issued by Securitization Trust,” and the risk retention interest and residual certificates held by third party investors are included in “Certificates Issued by Securitization Trust, at Fair Value” on the accompanying condensed consolidated balance sheets. Refer to Note 6, Securitization for additional disclosures. Prosper uses Warehouse Lines to purchase Loans Held for Sale that may be subsequently contributed to securitization transactions or sold to investors. Loans Held for Sale are included in “Loans Held for Sale, at Fair Value” on the Consolidated Balance Sheets. See Note 10, Debt for more details on Warehouse Lines. Borrower Loans and Loans Held for Sale are purchased from WebBank. Prosper places Borrower Loans and Loans Held for Sale on non-accrual status when they are 120 days past due. When a loan is placed on non-accrual status, Prosper stops accruing interest and reverses all accrued but unpaid interest as of such date. Additionally, Prosper charges-off Borrower Loans and Loans Held for Sale when they are 120 days past due. The fair value of loans 120 or more days past due generally consists of the expected recovery from debt sales in subsequent periods. Prosper has elected the fair value option for Borrower Loans, Loans Held for Sale, Notes, and Certificates Issued by Securitization Trust. Changes in fair value of Borrower Loans funded through the Note Channel are largely offset by the changes in fair value of Notes due to the borrower payment-dependent design of the Notes. Changes in fair value of Borrower Loans held in consolidated securitization trusts are partially offset by changes in fair value of the Certificates Issued by Securitization Trust. Changes in fair value of Loans Held for Sale are recorded through Proper's earnings and Prosper collects interest on Loans Held for Sale. Changes in the fair values of Borrower Loans, Loans Held for Sale, Notes, and Certificates Issued by Securitization Trust are included in “Change in Fair Value of Financial Instruments, Net” on the Consolidated Statements of Operations. Prosper primarily uses a discounted cash flow model to estimate the fair value of Borrower Loans, Loans Held for Sale, Notes, and Certificates Issued by Securitization Trust. The key assumptions used in the valuation include default rates and prepayment rates derived primarily from historical performance, and discount rates based on estimates of the rates of return that investors would require when investing in financial instruments with similar characteristics.
Leases	Leases Management determines if an arrangement is a lease at inception. Operating lease right-of-use (“ROU”) assets and operating lease liabilities are included on the Consolidated Balance Sheets in Property and Equipment, Net and in Other Liabilities, respectively. For certain leases with original terms of twelve months or less, PMI recognizes the lease expense as incurred and does not record ROU assets and lease liabilities. If a contract contains a lease, management evaluates whether it should be classified as an operating or finance lease. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most of PMI's leases do not provide an implicit rate, management uses an incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The operating lease ROU assets are evaluated for impairment utilizing the same impairment model used for Property and Equipment.
Consolidation of Variable Interest Entities	Consolidation of Variable Interest Entities The determination of whether to consolidate a VIE in which we have a variable interest requires a significant amount of analysis and judgment regarding whether we are the primary beneficiary of a VIE due to our holding a controlling financial interest in the VIE. A controlling financial interest in a VIE exists if we have both the power to direct the VIE’s activities that most significantly affect the VIE’s economic performance and a potentially significant economic interest in the VIE. The determination of whether an entity is a VIE considers factors, such as (i) whether the entity’s equity investment at risk is insufficient to allow the entity to finance its activities without additional subordinated financial support and (ii) whether a holder’s equity investment at risk lacks any of the following characteristics of a controlling financial interest: the direct or indirect ability through voting rights or similar rights to make decisions about a legal entity’s activities that have a significant effect on the entity’s success, the obligation to absorb the expected losses of the entity or the right to receive the expected residual returns of the legal entity. Management regularly reviews and reconsiders its previous conclusions regarding the status of an entity as a VIE and whether we are required to consolidate such VIE in the consolidated financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Adopted by the Company in the Current Period In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This ASU simplifies the accounting for income taxes by removing certain exceptions related to the incremental approach for intraperiod tax allocation, the requirement to recognize or derecognize deferred tax liabilities related to equity method investments that are also foreign subsidiaries and the methodology for calculating income taxes in an interim period. The guidance also clarifies and simplifies other aspects of the accounting for income taxes, including a modification in the guidance for franchise taxes that are partially based on income and recognizing deferred taxes for a subsequent step-up in the tax basis of goodwill. The ASU is effective for the Company beginning in the first quarter of 2021. The Company has adopted ASU 2019-12 and concluded that the impact on its condensed consolidated financial statements was immaterial. Accounting Standards Issued, to be Adopted by the Company in Future Periods In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848),” which provides optional expedients and exceptions for applying GAAP on contract modifications and hedge accounting, in order to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative referenced rates, such as the Secured Overnight Financing Rate. This ASU can be adopted after its issuance date through December 31, 2022. The Company is currently evaluating the impact reference rate reform will have on its contracts that reference LIBOR in order to determine whether to adopt this guidance.
Prosper Funding LLC
Entity Information [Line Items]
Basis of Presentation	Prosper Funding LLC (“PFL”) was formed in the state of Delaware in February 2012 as a limited liability company with Prosper Marketplace, Inc. (“PMI”) as its sole equity member. Except as the context otherwise requires, as used in these Notes to the condensed consolidated financial statements of Prosper Funding LLC, “PFL”, and the “Company” refers to Prosper Funding LLC and its wholly owned subsidiary, Prosper Depositor LLC, a Delaware limited liability company, on a consolidated basis. The unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) and disclosure requirements for interim financial information and the requirements of Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. The unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2020. The balance sheet at December 31, 2020 has been derived from the audited financial statements at that date. Management believes these unaudited interim condensed consolidated financial statements reflect all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the results for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. PFL did not have any items of other comprehensive income or loss for any of the periods presented in the condensed consolidated financial statements as of and for the six months ended June 30, 2021 and June 30, 2020. The preparation of PFL's condensed consolidated financial statements and related disclosures in conformity with US GAAP requires management to make judgments, assumptions and estimates that affect the amounts reported in its condensed consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and on various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of certain assets and liabilities. These judgments, estimates and assumptions are inherently subjective in nature and actual results may differ from these estimates and assumptions, and the differences could be material.
Fair Value Measurements	Fair Value Measurements Financial instruments consist principally of Cash and Cash Equivalents, Restricted Cash, Borrower Loans, Loans Held for Sale, Accounts Receivable, Accounts Payable and Accrued Liabilities, Payable to Investors and Notes. The estimated fair values of Cash and Cash Equivalents, Restricted Cash, Accounts Receivable, Accounts Payable and Accrued Liabilities, and Payable to Investors approximate their carrying values because of their short-term nature.
Restricted Cash	Restricted Cash Restricted Cash consists primarily of cash deposits, money market funds and short-term certificate of deposit accounts held as collateral as required for long term leases, loan funding and servicing activities, and cash that investors have on our marketplace that has not yet been invested in Borrower Loans or disbursed to the investor.
Borrower Loans, Loans Held for Sale, Notes and Certificates Issued by Securitization Trust	Borrower Loans, Loans Held for Sale and Notes With respect to the Note Channel, PFL purchases Borrower Loans from WebBank, then issues Notes and holds the Borrower Loans until maturity. The obligation to repay a series of Notes funded through the Note Channel is dependent upon the repayment of the associated Borrower Loan. Borrower Loans and Notes funded through the Note Channel are carried on PFL’s condensed consolidated balance sheets as assets and liabilities, respectively. PFL places Borrower Loans and Loans Held for Sale on non-accrual status when they are 120 days past due. When a loan is placed on non-accrual status, PFL stops accruing interest and reverses all accrued but unpaid interest as of such date. Additionally, PFL charges-off Borrower Loans and Loans Held for Sale when they are 120 days past due. The fair value of loans 120 days past due generally consists of the expected recovery from debt sales in subsequent periods. Management has elected the fair value option for Borrower Loans, Loans Held for Sale, and Notes. Changes in fair value of Borrower Loans are largely offset by the changes in fair value of Notes due to the borrower payment-dependent design of the Notes. Changes in fair value of Borrower Loans, Loans Held for Sale and Notes are included in “Change in Fair Value of Borrower Loans, Loans Held for Sale and Notes, Net” on the condensed consolidated statements of operations. PFL primarily uses a discounted cash flow model to estimate the fair value of Borrower Loans, Loans Held for Sale and Notes. The key assumptions used in the valuation include default rates and prepayment rates derived primarily from historical performance and discount rates based on estimates of the rates of return that investors would require when investing in financial instruments with similar characteristics.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Adopted In The Current Period No accounting standards were adopted in the current period for PFL. Accounting Standards Issued, To Be Adopted By PFL In Future Periods No issued and pending accounting standards were identified that are expected to have an impact on PFL.

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
Property and Equipment, Net	Property and Equipment consists of the following at the dates presented (in thousands): June 30, 2021 December 31, 2020 Operating lease right-of-use assets $ 17,532 $ 15,767 Computer equipment 15,081 13,841 Internal-use software and website development costs 37,767 33,176 Office equipment and furniture 2,872 2,872 Leasehold improvements 7,167 7,167 Assets not yet placed in service 4,855 5,035 Property and equipment 85,274 77,858 Less: Accumulated depreciation and amortization (55,064) (49,412) Total Property and Equipment, Net $ 30,210 $ 28,446
Prosper Funding LLC
Entity Information [Line Items]
Property and Equipment, Net	Property and equipment consist of the following as of the dates presented (in thousands): June 30, 2021 December 31, 2020 Internal-use software and web site development costs $ 30,986 $ 26,953 Less accumulated depreciation and amortization (22,198) (20,025) Total property and equipment, net $ 8,788 $ 6,928

BORROWER LOANS, LOANS HELD FO_2

BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
Aggregate Principal Balances Outstanding and Fair Values of Borrower Loans, Notes and Loans Held for Sale	The aggregate principal balances outstanding and fair values of Borrower Loans, Loans Held for Sale, and Notes as of June 30, 2021 and December 31, 2020, are presented in the following table (in thousands): Borrower Loans Loans Held for Sale Notes June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Aggregate principal balance outstanding $ 342,478 $ 393,642 $ 250,989 $ 279,113 $ 239,126 $ 217,110 Fair value adjustments (3,539) (15,379) (1,034) (4,492) (3,085) (8,731) Fair value $ 338,939 $ 378,263 $ 249,955 $ 274,621 $ 236,041 $ 208,379
Prosper Funding LLC
Entity Information [Line Items]
Aggregate Principal Balances Outstanding and Fair Values of Borrower Loans, Notes and Loans Held for Sale	The aggregate principal balances outstanding and fair values of Borrower Loans and Notes as of June 30, 2021 and December 31, 2020, are presented in the following table (in thousands): Borrower Loans Notes June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Aggregate principal balance outstanding $ 236,728 $ 215,373 $ 239,126 $ 217,110 Fair value adjustments 116 (5,703) (3,085) (8,731) Fair value $ 236,844 $ 209,670 $ 236,041 $ 208,379

FAIR VALUE OF ASSETS AND LIAB_2

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value	The following tables present the fair value hierarchy for assets and liabilities measured at fair value (in thousands): June 30, 2021 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 338,939 $ 338,939 Loans Held for Sale at Fair Value — — 249,955 249,955 Servicing Assets — — 8,944 8,944 Total Assets $ — $ — $ 597,838 $ 597,838 Liabilities: Notes, at Fair Value $ — $ — $ 236,041 $ 236,041 Certificates Issued by Securitization Trust, at Fair Value — — 15,295 15,295 Convertible Preferred Stock Warrant Liability — — 162,436 162,436 Loan Trailing Fee Liability — — 2,145 2,145 Total Liabilities $ — $ — $ 415,917 $ 415,917 December 31, 2020 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 378,263 $ 378,263 Loans Held for Sale at Fair Value — — 274,621 274,621 Servicing Assets — — 9,242 9,242 Total Assets $ — $ — $ 662,126 $ 662,126 Liabilities: Notes, at Fair Value $ — $ — $ 208,379 $ 208,379 Certificates Issued by Securitization Trust, at Fair Value — — 22,917 22,917 Convertible Preferred Stock Warrant Liability — — 112,319 112,319 Loan Trailing Fee Liability — — 2,233 2,233 Total Liabilities $ — $ — $ 345,848 $ 345,848
Quantitative Information About Significant Unobservable Inputs	The following tables present quantitative information about the ranges of significant unobservable inputs used for the Company’s Level 3 fair value measurements at June 30, 2021 and December 31, 2020: Range Borrower Loans, Loans Held for Sale and Notes: June 30, 2021 December 31, 2020 Discount rate 4.6% - 16.1% 4.5% - 17.7% Default rate 0.3% - 17.3% 2.3% - 17.9% Range Certificates Issued by Securitization Trust: June 30, 2021 December 31, 2020 Discount rate 3.1% - 14.0% 3.3% - 16.0% Default rate 0.3% - 13.0% 3.2% - 15.3% Prepayment rate 3.4% - 35.5% 7.6% - 35.4% Range Servicing Assets: June 30, 2021 December 31, 2020 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.9% - 16.8% 1.9% - 17.7% Prepayment rate 11.6% - 28.6% 12.4% - 28.9% Market servicing rate (1) (2) 0.625% - 0.818% 0.625% - 0.818% (1) Servicing assets associated with loans enrolled in a relief program offered by the Company in response to the COVID-19 pandemic as of June 30, 2021 and December 31, 2020 were measured using a market servicing rate assumption of 81.8 basis points. This rate was estimated using a multiplier consistent with observable market rates for other loan types, applied to the base market servicing rate assumption of 62.5 basis points. (2) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of June 30, 2021 and December 31, 2020, the market rate for collection fees and non-sufficient fund fees was assumed to be 6 basis points and 7 basis points, respectively, for a total market servicing rate range of 68.5 - 87.8 basis points and a total market servicing rate of 69.5 - 88.8 basis points, respectively. Range Loan Trailing Fee Liability June 30, 2021 December 31, 2020 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.9% - 16.8% 1.9% - 17.7% Prepayment rate 11.6% - 28.6% 12.4% - 28.9%
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present additional information about Level 3 Borrower Loans, Loans Held for Sale, Notes and Certificates Issued by Securitization Trust measured at fair value on a recurring basis (in thousands): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held For Sale Notes Certificates Issued by Securitization Trust Total Balance at January 1, 2021 $ 378,263 $ 274,621 $ (208,379) $ (22,917) $ 421,588 Purchase of Borrower Loans/Issuance of Notes 107,609 792,674 (108,203) — 792,080 Principal repayments (145,982) (73,454) 81,042 10,893 (127,501) Borrower Loans sold to third parties (1,724) (743,334) — — (745,058) Other changes (1,192) (267) 219 72 (1,168) Change in fair value 1,965 (285) (720) (3,343) (2,383) Balance at June 30, 2021 $ 338,939 $ 249,955 $ (236,041) $ (15,295) $ 337,558 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Certificates Issued by Securitization Trust Total Balance at January 1, 2020 $ 634,019 $ 142,026 $ (244,171) $ (52,168) $ 479,706 Purchase of Borrower Loans/Issuance of Notes 65,664 622,122 (65,043) — 622,743 Principal repayments (179,552) (43,076) 77,107 9,875 (135,646) Borrower Loans sold to third parties (4,254) (491,782) — — (496,036) Other changes (158) 779 (257) 341 705 Change in fair value (58,232) (13,826) 22,377 10,381 (39,300) Balance at June 30, 2020 $ 457,487 $ 216,243 $ (209,987) $ (31,571) $ 432,172 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held For Sale Notes Certificates Issued by Securitization Trust Total Balance at April 1, 2021 $ 351,101 $ 240,379 $ (218,494) $ (19,726) $ 353,260 Purchase of Borrower Loans/Issuance of Notes 58,651 386,440 (58,342) — 386,749 Principal repayments (70,592) (38,583) 41,254 5,408 (62,513) Borrower Loans sold to third parties (715) (338,506) — — (339,221) Other changes (523) (132) 32 39 (584) Change in fair value 1,017 357 (491) (1,016) (133) Balance at June 30, 2021 $ 338,939 $ 249,955 $ (236,041) $ (15,295) $ 337,558 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Certificates Issued by Securitization Trust Total Balance at April 1, 2020 $ 522,404 $ 153,236 $ (225,491) $ (35,316) $ 414,833 Purchase of Borrower Loans/Issuance of Notes 24,363 222,572 (24,468) — 222,467 Principal repayments (82,837) (24,516) 36,520 5,042 (65,791) Borrower Loans sold to third parties (1,991) (136,148) — — (138,139) Other changes 584 673 (396) 303 1,164 Change in fair value (5,036) 426 3,848 (1,600) (2,362) Balance at June 30, 2020 $ 457,487 $ 216,243 $ (209,987) $ (31,571) $ 432,172
Schedule of Servicing Assets and Liabilities Measured at Fair Value	The following tables present additional information about Level 3 Servicing Assets measured at fair value on a recurring basis for the three and six month periods ending June 30, 2021 and 2020 (in thousands): Servicing Assets Fair Value at January 1, 2021 $ 9,242 Additions 3,779 Less: Changes in fair value (4,077) Fair Value at June 30, 2021 $ 8,944 Servicing Assets Fair Value at January 1, 2020 $ 12,602 Additions 2,703 Less: Changes in fair value (5,232) Fair Value at June 30, 2020 $ 10,073 Servicing Assets Fair Value at April 1, 2021 $ 9,248 Additions 1,760 Less: Changes in fair value (2,064) Fair Value at June 30, 2021 $ 8,944 Servicing Assets Fair Value at April 1, 2020 $ 11,742 Additions 729 Less: Changes in fair value (2,398) Fair Value at June 30, 2020 $ 10,073 The following tables present additional information about the Level 3 Convertible Preferred Stock Warrant Liability measured at fair value on a recurring basis for the six month periods ending June 30, 2021 and 2020 (in thousands): Convertible Preferred Stock Balance as of January 1, 2021 $ 112,319 Change in fair value 50,117 Balance as of June 30, 2021 $ 162,436 Convertible Preferred Stock Balance as of January 1, 2020 $ 149,996 Change in fair value (74,998) Balance as of June 30, 2020 $ 74,998 Convertible Preferred Stock Balance as of April 1, 2021 $ 156,750 Change in fair value 5,686 Balance as of June 30, 2021 $ 162,436 Convertible Preferred Stock Balance as of April 1, 2020 $ 94,547 Change in fair value (19,549) Balance as of June 30, 2020 $ 74,998
Fair Value, Liabilities Measured on Recurring Basis	The following tables present additional information about the Level 3 Loan Trailing Fee Liability measured at fair value on a recurring basis for the six month periods ending June 30, 2021 and 2020 (in thousands): Loan Trailing Fee Liability Balance at January 1, 2021 $ 2,233 Issuances 817 Cash Payment of Loan Trailing Fee (1,066) Change in Fair Value 161 Balance at June 30, 2021 $ 2,145 Loan Trailing Fee Liability Balance at January 1, 2020 $ 2,997 Issuances 625 Cash Payment of Loan Trailing Fee (1,271) Change in Fair Value 52 Balance at June 30, 2020 $ 2,403 Loan Trailing Fee Liability Balance at April 1, 2021 $ 2,189 Issuances 407 Cash Payment of Loan Trailing Fee (522) Change in Fair Value 71 Balance at June 30, 2021 $ 2,145 Loan Trailing Fee Liability Balance at April 1, 2020 $ 2,646 Issuances 240 Cash Payment of Loan Trailing Fee (596) Change in Fair Value 113 Balance at June 30, 2020 $ 2,403
Fair Value Assumptions for Loans Held for Sale, Borrower Loans and Notes	Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at June 30, 2021 and December 31, 2020 for Borrower Loans and Loans Held for Sale are presented in the following table (in thousands, except percentages). Borrower Loans and Loans Held for Sale June 30, 2021 December 31, 2020 Fair value, using the following assumptions: $ 588,894 $ 652,884 Weighted-average discount rate 6.81 % 8.26 % Weighted-average default rate 10.44 % 11.58 % Fair value resulting from: 100 basis point increase in discount rate $ 583,202 $ 647,093 200 basis point increase in discount rate $ 577,651 $ 641,437 Fair value resulting from: 100 basis point decrease in discount rate $ 594,733 $ 658,817 200 basis point decrease in discount rate $ 600,724 $ 664,895 Fair value resulting from: 10 percent increase in default rate $ 583,270 $ 646,421 20 percent increase in default rate $ 577,684 $ 639,987 Fair value resulting from: 10 percent decrease in default rate $ 594,551 $ 659,377 20 percent decrease in default rate $ 600,243 $ 665,904 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at June 30, 2021 and December 31, 2020 for Notes are presented in the following table (in thousands, except percentages). Notes June 30, 2021 December 31, 2020 Fair value, using the following assumptions: $ 236,041 $ 208,379 Weighted-average discount rate 6.74 % 8.93 % Weighted-average default rate 11.20 % 12.26 % Fair value resulting from: 100 basis point increase in discount rate $ 233,756 $ 206,528 200 basis point increase in discount rate $ 231,528 $ 204,720 Fair value resulting from: 100 basis point decrease in discount rate $ 238,385 $ 210,274 200 basis point decrease in discount rate $ 240,789 $ 212,217 Fair value resulting from: 10 percent increase in default rate $ 233,774 $ 206,304 20 percent increase in default rate $ 231,521 $ 204,238 Fair value resulting from: 10 percent decrease in default rate $ 238,322 $ 210,463 20 percent decrease in default rate $ 240,617 $ 212,558 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at June 30, 2021 and December 31, 2020 for Certificates Issued by Securitization Trust are presented in the following table (in thousands, except percentages). Certificates Issued by Securitization Trust June 30, 2021 December 31, 2020 Fair value, using the following assumptions: $ 15,295 $ 22,917 Weighted-average discount rate 9.77 % 11.12 % Weighted-average default rate 10.42 % 12.93 % Weighted-average prepayment rate 19.17 % 20.86 % Fair value resulting from: 100 basis point increase in discount rate $ 15,171 $ 22,729 200 basis point increase in discount rate $ 15,051 $ 22,545 Fair value resulting from: 100 basis point decrease in discount rate $ 15,422 $ 23,110 200 basis point decrease in discount rate $ 15,552 $ 23,308 Fair value resulting from: 10 percent increase in default rate $ 14,732 $ 21,798 20 percent increase in default rate $ 14,175 $ 20,690 Fair value resulting from: 10 percent decrease in default rate $ 15,854 $ 24,030 20 percent decrease in default rate $ 16,417 $ 25,150 Fair value resulting from: 10 percent increase in prepayment rate $ 15,300 $ 22,933 20 percent increase in prepayment rate $ 15,307 $ 22,958 Fair value resulting from: 10 percent decrease in prepayment rate $ 15,284 $ 22,891 20 percent decrease in prepayment rate $ 15,279 $ 22,872
Schedule of Prosper's and Prosper Funding's Estimated Fair Value of Servicing Assets and Liabilities	Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at June 30, 2021 and December 31, 2020 for Servicing Assets is presented in the following table (in thousands, except percentages). Servicing Assets June 30, 2021 December 31, 2020 Fair value, using the following assumptions $ 8,944 $ 9,242 Weighted-average market servicing rate 0.628 % 0.631 % Weighted-average prepayment rate 19.77 % 19.84 % Weighted-average default rate 12.99 % 12.78 % Fair value resulting from: Market servicing rate increase of 0.025% $ 8,404 $ 8,689 Market servicing rate decrease of 0.025% $ 9,483 $ 9,796 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 8,768 $ 9,064 Applying a 0.9 multiplier to prepayment rate $ 9,121 $ 9,423 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 8,816 $ 9,116 Applying a 0.9 multiplier to default rate $ 9,071 $ 9,369
Financial Instruments, Assets And Liabilities Not Recorded At Fair Value	The following table presents the fair value hierarchy for assets, and liabilities not recorded at fair value (in thousands): June 30, 2021 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and Cash Equivalents $ 56,018 $ 56,018 $ — $ — $ 56,018 Restricted Cash - Cash and Cash Equivalents 200,500 200,500 — — 200,500 Restricted Cash - Certificates of Deposit 4,877 — 4,877 — 4,877 Accounts Receivable 1,088 — 1,088 — 1,088 Total Assets $ 262,483 $ 256,518 $ 5,965 $ — $ 262,483 Liabilities: Accounts Payable and Accrued Liabilities $ 20,328 $ — $ 20,328 $ — $ 20,328 Payable to Investors 174,387 — 174,387 — 174,387 Notes Issued by Securitization Trust 94,811 — 97,556 — 97,556 Warehouse Lines 219,467 — 222,015 — 222,015 Paycheck Protection Program loan (Note 10) 8,547 — 8,544 — 8,544 Total Liabilities $ 517,540 $ — $ 522,830 $ — $ 522,830 December 31, 2020 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and Cash Equivalents $ 50,145 $ 50,145 $ — $ — $ 50,145 Restricted Cash - Cash and Cash Equivalents 158,846 158,846 — — 158,846 Restricted Cash - Certificates of Deposit 4,877 — 4,877 — 4,877 Accounts Receivable 605 — 605 — 605 Total Assets $ 214,473 $ 208,991 $ 5,482 $ — $ 214,473 Liabilities: Accounts Payable and Accrued Liabilities $ 17,876 $ — $ 17,876 $ — $ 17,876 Payable to Investors 124,094 — 124,094 — 124,094 Notes Issued by Securitization Trust 156,782 — 158,951 — 158,951 Warehouse Lines 242,479 — 242,261 — 242,261 Paycheck Protection Program loan (Note 10) 8,505 — 8,540 — 8,540 Total Liabilities $ 549,736 $ — $ 551,722 $ — $ 551,722
Prosper Funding LLC
Entity Information [Line Items]
Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value	The following tables present the fair value hierarchy for assets and liabilities measured at fair value (in thousands): June 30, 2021 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 236,844 $ 236,844 Servicing Assets — — 10,389 10,389 Total Assets $ — $ — $ 247,233 $ 247,233 Liabilities: Notes, at Fair Value $ — $ — $ 236,041 $ 236,041 Loan Trailing Fee Liability — — 2,145 2,145 Total Liabilities $ — $ — $ 238,186 $ 238,186 December 31, 2020 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 209,670 $ 209,670 Servicing Assets — — 11,088 11,088 Total Assets $ — $ — $ 220,758 $ 220,758 Liabilities: Notes, at Fair Value $ — $ — $ 208,379 $ 208,379 Loan Trailing Fee Liability — — 2,233 2,233 Total Liabilities $ — $ — $ 210,612 $ 210,612
Quantitative Information About Significant Unobservable Inputs	The following tables present quantitative information about the significant unobservable inputs used for PFL’s Level 3 fair value measurements at the dates presented: Range Borrower Loans and Notes June 30, 2021 December 31, 2020 Discount rate 4.6% - 12.7% 5.3% - 16.1% Default rate 2.4% - 15.2% 2.6% - 16.2% Range Servicing Assets June 30, 2021 December 31, 2020 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.9% - 16.8% 1.9% - 17.7% Prepayment rate 11.6% - 28.6% 12.4% - 28.9% Market servicing rate (1) (2) 0.625% - 0.818% 0.625% - 0.818% (1) Servicing assets associated with loans enrolled in a relief program offered by the Company in response to the COVID-19 pandemic as of June 30, 2021 and December 31, 2020 were measured using a market servicing rate assumption of 81.8 basis points. This rate was estimated using a multiplier consistent with observable market rates for other loan types, applied to the base market servicing rate assumption of 62.5 basis points. (2) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of June 30, 2021 and December 31, 2020, the market rate for collection fees and non-sufficient fund fees was assumed to be 6 basis points and 7 basis points, respectively, for a total market servicing rate range of 68.5 - 87.8 basis points and a total market servicing rate of 69.5 - 88.8 basis points, respectively. Range Loan Trailing Fee Liability June 30, 2021 December 31, 2020 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.9% - 16.8% 1.9% - 17.7% Prepayment rate 11.6% - 28.6% 12.4% - 28.9%
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present additional information about Level 3 Borrower Loans, Loans Held for Sale and Notes measured at fair value on a recurring basis for three months ended June 30, 2021 and 2020 (in thousands): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at January 1, 2021 $ 209,670 $ — $ (208,379) $ 1,291 Originations 107,609 792,674 (108,203) 792,080 Principal repayments (80,334) — 81,042 708 Borrower Loans sold to third parties (769) (792,674) — (793,443) Other changes (208) — 219 11 Change in fair value 876 — (720) 156 Balance at June 30, 2021 $ 236,844 $ — $ (236,041) $ 803 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at January 1, 2020 $ 245,137 $ — $ (244,171) $ 966 Originations 65,664 622,122 (65,043) 622,743 Principal repayments (75,596) — 77,108 1,512 Borrower Loans sold to third parties (1,564) (622,122) — (623,686) Other changes 253 — (257) (4) Change in fair value (22,119) — 22,377 258 Balance at June 30, 2020 $ 211,775 $ — $ (209,986) $ 1,789 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at April 1, 2021 $ 219,012 $ — $ (218,494) $ 518 Originations 58,651 386,440 (58,342) 386,749 Principal repayments (41,259) — 41,254 (5) Borrower Loans sold to third parties (326) (386,440) — (386,766) Other changes (109) — 32 (77) Change in fair value 875 — (491) 384 Balance at June 30, 2021 $ 236,844 $ — $ (236,041) $ 803 Borrower Loans Loans Held for Sale Notes Total Balance at April 1, 2020 $ 227,659 $ — $ (225,491) $ 2,168 Originations 24,363 222,572 (24,468) 222,467 Principal repayments (36,256) — 36,520 264 Borrower Loans sold to third parties (682) (222,572) — (223,254) Other changes 344 — (395) (51) Change in fair value (3,653) — 3,848 195 Balance at June 30, 2020 $ 211,775 $ — $ (209,986) $ 1,789
Schedule of Servicing Assets and Liabilities Measured at Fair Value	The following tables present additional information about Level 3 Servicing Assets recorded at fair value (in thousands): Servicing Assets Fair Value at January 1, 2021 $ 11,088 Additions 4,376 Less: Changes in fair value (5,075) Fair Value at June 30, 2021 $ 10,389 Servicing Assets Fair Value at January 1, 2020 $ 14,888 Additions 3,402 Less: Changes in fair value (6,227) Fair Value at June 30, 2020 $ 12,063 Servicing Assets Fair Value at April 1, 2021 $ 10,770 Additions 2,022 Less: Changes in fair value (2,403) Fair Value at June 30, 2021 $ 10,389 Servicing Assets Fair Value at April 1, 2020 $ 13,690 Additions 1,206 Less: Changes in fair value (2,833) Fair Value at June 30, 2020 $ 12,063 Loan Trailing Fee Liability The fair value of the Loan Trailing Fee Liability represents the present value of the expected monthly Loan Trailing Fee payments, which takes into consideration certain assumptions related to expected prepayment rates and default rates using a discounted cash flow model. The assumptions used are the same as those used for the valuation of Servicing Assets, as described below. The following tables present additional information about Level 3 Loan Trailing Fee Liability measured at fair value on a recurring basis (in thousands): Loan Trailing Fee Liability Fair Value at January 1, 2021 $ 2,233 Issuances 817 Cash payment of Loan Trailing Fee (1,066) Change in fair value 161 Fair Value at June 30, 2021 $ 2,145 Loan Trailing Fee Liability Fair Value at January 1, 2020 $ 2,997 Issuances 625 Cash payment of Loan Trailing Fee (1,271) Change in fair value 52 Fair Value at June 30, 2020 $ 2,403 Loan Trailing Fee Liability Fair Value at April 1, 2021 $ 2,189 Issuances 407 Cash payment of Loan Trailing Fee (522) Change in fair value 71 Fair Value at June 30, 2021 $ 2,145 Loan Trailing Fee Liability Fair Value at April 1, 2020 $ 2,646 Issuances 240 Cash payment of Loan Trailing Fee (596) Change in fair value 113 Fair Value at June 30, 2020 $ 2,403
Fair Value Assumptions for Loans Held for Sale, Borrower Loans and Notes	Key economic assumptions are used to compute the fair value of Borrower Loans. The sensitivity of the fair value to immediate changes in assumptions at June 30, 2021 and December 31, 2020 for Borrower Loans are presented in the following table (in thousands, except percentages). Borrower Loans: June 30, 2021 December 31, 2020 Fair value, using the following assumptions: $ 236,844 $ 209,670 Weighted-average discount rate 6.74 % 8.93 % Weighted-average default rate 11.20 % 12.26 % Fair value resulting from: 100 basis point increase in discount rate $ 234,555 $ 207,810 200 basis point increase in discount rate $ 232,322 $ 205,994 Fair value resulting from: 100 basis point decrease in discount rate $ 239,192 $ 211,575 200 basis point decrease in discount rate $ 241,601 $ 213,527 Fair value resulting from: 10 percent increase in default rate $ 234,582 $ 207,594 20 percent increase in default rate $ 232,335 $ 205,528 Fair value resulting from: 10 percent decrease in default rate $ 239,119 $ 211,755 20 percent decrease in default rate $ 241,408 $ 213,851 Key economic assumptions are used to compute the fair value of Notes. The sensitivity of the fair value to immediate changes in assumptions at June 30, 2021 and December 31, 2020 for Notes funded through the Note Channel are presented in the following table (in thousands, except percentages). Notes June 30, 2021 December 31, 2020 Fair value, using the following assumptions: $ 236,041 $ 208,379 Weighted-average discount rate 6.74 % 8.93 % Weighted-average default rate 11.20 % 12.26 % Fair value resulting from: 100 basis point increase in discount rate $ 233,756 $ 206,528 200 basis point increase in discount rate $ 231,528 $ 204,720 Fair value resulting from: 100 basis point decrease in discount rate $ 238,385 $ 210,274 200 basis point decrease in discount rate $ 240,789 $ 212,217 Fair value resulting from: 10 percent increase in default rate $ 233,774 $ 206,304 20 percent increase in default rate $ 231,521 $ 204,238 Fair value resulting from: 10 percent decrease in default rate $ 238,322 $ 210,463 20 percent decrease in default rate $ 240,617 $ 212,558
Schedule of Prosper's and Prosper Funding's Estimated Fair Value of Servicing Assets and Liabilities	Key economic assumptions are used to compute the fair value of Servicing Assets. The sensitivity of the current fair value to immediate changes in assumptions at June 30, 2021 and December 31, 2020 for Servicing Assets are presented in the following table (in thousands, except percentages). Servicing Assets June 30, 2021 December 31, 2020 Fair value, using the following assumptions: $ 10,389 $ 11,088 Weighted-average market servicing rate 0.628 % 0.631 % Weighted-average prepayment rate 19.77 % 19.84 % Weighted-average default rate 12.99 % 12.78 % Fair value resulting from: Market servicing rate increase of 0.025% $ 9,762 $ 10,424 Market servicing rate decrease of 0.025% $ 11,015 $ 11,752 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 10,185 $ 10,874 Applying a 0.9 multiplier to prepayment rate $ 10,595 $ 11,304 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 10,241 $ 10,936 Applying a 0.9 multiplier to default rate $ 10,537 $ 11,239

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Other Intangible Assets for the Period Presented	The following table presents the detail of other intangible assets subject to amortization as of the following date (dollars in thousands): June 30, 2021 Gross Carrying Value Accumulated Amortization Net Carrying Value Remaining Useful Life (In Years) Developed technology $ 3,060 $ (3,060) $ — — User base and customer relationships 5,050 (4,636) 414 3.8 Brand name 60 (60) — — Total Intangible Assets subject to amortization $ 8,170 $ (7,756) $ 414
Summary of Estimated Amortization of Purchased Intangible Assets	Estimated amortization of purchased intangible assets for future periods is as follows (in thousands): Year Ending December 31, 2021 (remainder thereof) $ 86 2022 136 2023 107 2024 85 Total $ 414

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2021
Other Liabilities [Abstract]
Schedule of Other Liabilities	Other Liabilities consist of the following (in thousands): June 30, 2021 December 31, 2020 Operating lease liabilities $ 13,540 $ 13,342 Paycheck Protection Program loan (Note 10) 8,547 8,505 Loan trailing fee liability 2,145 2,233 Deferred income tax liability 531 489 Financing lease liabilities 155 — Deferred revenue 26 63 Other 292 425 Total Other Liabilities $ 25,236 $ 25,057

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Basic and Diluted Net Income (Loss) per Share	Basic and diluted income (loss) per share were calculated as follows for the periods presented (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2021 2021 2020 2021 2020 Numerator: Net (Loss) Income $ (5,805) $ 17,641 $ (50,694) $ 38,771 Plus: Return on Share Purchase — — — — Less: Net Income Allocated to Participating Securities — (13,153) — (28,908) Net (Loss) Income Attributable to Common Stockholders $ (5,805) $ 4,488 $ (50,694) $ 9,863 Denominator: Weighted average shares used in computing basic net (loss) income per share 70,868,080 68,455,641 70,110,288 68,454,872 Effect of dilutive securities: Stock options — 126,926 — 337,446 Convertible preferred stock warrants — 213,264,845 — 213,264,845 Weighted average shares used in computing diluted Net (Loss) Income per Share 70,868,080 281,847,412 70,110,288 282,057,163 Net (Loss) Income Per Share – Basic $ (0.08) $ 0.07 $ (0.72) $ 0.14 Net (Loss) Income Per Share – Diluted $ (0.08) $ 0.02 $ (0.72) $ 0.03
Common Stock Equivalents Excluded from Computation of Diluted Net Income (Loss) per Share	The following common stock equivalents were excluded from the computation of diluted net (loss) income per share for the periods presented because including them would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 (shares) (shares) (shares) (shares) Excluded securities: Convertible preferred stock issued and outstanding, excluding shares held by consolidated VIE 158,365,655 209,613,570 158,365,655 209,613,570 Stock options issued and outstanding 74,638,057 73,045,220 73,986,598 72,460,458 Warrants issued and outstanding 1,080,349 1,080,349 1,080,349 1,080,349 Series E-1 convertible preferred stock warrants 35,544,141 — 35,544,141 — Series F convertible preferred stock warrants 177,720,704 — 177,720,704 — Total common stock equivalents excluded from diluted net (loss) income per common share computation 447,348,906 283,739,139 446,697,447 283,154,377

CONVERTIBLE PREFERRED STOCK, _2

CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK (Tables)	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity Note [Abstract]
Summary of Shares Authorized, Issued, Outstanding, Par Value and Liquidation Preference of Convertible Preferred Stock	The number of authorized, issued and outstanding shares, their par value and liquidation preference for each series of convertible preferred stock as of June 30, 2021 are disclosed in the table below (amounts in thousands except share and par value amounts): Convertible Preferred Stock Par Value Authorized Shares Outstanding and Issued Shares Liquidation Preference, Outstanding Shares Series A $ 0.01 68,558,220 66,428,185 * $ 19,160 Series A-1 $ 0.01 24,760,915 22,515,315 45,031 Series B $ 0.01 35,775,880 35,127,160 * 21,190 Series C $ 0.01 24,404,770 24,404,770 70,075 Series D $ 0.01 23,888,640 23,888,640 165,000 Series E-1 $ 0.01 35,544,141 — — Series E-2 $ 0.01 16,858,078 — — Series F $ 0.01 177,720,707 3 — Series G $ 0.01 37,249,497 37,249,497 50,000 Total 444,760,848 209,613,570 $ 370,456 * Series A and Series B Convertible Preferred Stock totals are inclusive of 34,670,420 and 16,577,495 shares, respectively, held by PGT, a consolidated VIE.
Schedule of Assumptions Used	The Company determined the fair value of the outstanding Series E-1 Warrants utilizing the following assumptions as of the following dates: June 30, 2021 December 31, 2020 Volatility 58.0 % 60.0 % Risk-free interest rate 0.40 % 0.20 % Expected term (in years) 2.75 2.75 Dividend yield — % — % The Company determined the fair value of the outstanding Series F Warrants utilizing the following assumptions as of the following dates: June 30, 2021 December 31, 2020 Volatility 58.0 % 60.0 % Risk-free interest rate 0.40 % 0.20 % Expected term (in years) 2.75 2.75 Dividend yield — % — %
Schedule of Stockholders' Equity Note, Warrants or Rights	The combined activity of the Convertible Preferred Stock Warrant Liability for the six months ended June 30, 2021 and 2020 are as follows (in thousands): Warrant Activity Balance at January 1, 2021 $ 112,319 Change in fair value 50,117 Balance at June 30, 2021 $ 162,436 Warrant Activity Balance at January 1, 2020 $ 149,996 Change in fair value (74,998) Balance at June 30, 2020 $ 74,998

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Summarized Option Activity under Option Plan	Stock option activity under the 2005 Plan and 2015 Plan is summarized for the six months ended June 30, 2021 below: Options Issued and Outstanding Weighted Average Exercise Price Balance as of January 1, 2021 72,915,449 $ 0.02 Options issued 8,668,166 $ 0.10 Options exercised (1,754,458) $ 0.02 Options forfeited (11,742,812) $ 0.02 Options expired (14,595) $ 0.02 Balance as of June 30, 2021 68,071,750 $ 0.03 Options vested and expected to vest as of June 30, 2021 52,252,350 $ 0.03 Options vested and exercisable at June 30, 2021 47,648,686 $ 0.02
Fair Value of Stock Option Awards	The fair value of PMI’s stock option awards granted during the three and six months ended June 30, 2021 and 2020 was estimated at the date of grant using the Black-Scholes model with the following average assumptions: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Volatility of common stock 67.60 % 55.37 % 64.00 % 47.93 % Risk-free interest rate 1.04 % 0.44 % 1.01 % 0.66 % Expected life 6.0 years 6.0 years 6.0 years 6.0 years Dividend yield — % — % — % — %
Summarized Activities for RSU's	The following table summarizes the number of PMI’s RSU activity for the six months ended June 30, 2021: Number of Shares Weighted-Average Grant Date Fair Value Unvested at January 1, 2021 4,661,141 $ 0.91 Forfeited (1,786,793) $ 0.54 Unvested at June 30, 2021 2,874,348 $ 1.14
Stock Based Compensation Included in Consolidated Statements of Operations	The following table presents the amount of stock-based compensation related to stock-based awards granted to employees recognized in Prosper’s condensed consolidated statements of operations for the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Origination and servicing $ 30 $ 34 $ 62 $ 72 Sales and marketing 16 15 32 26 General and administrative 222 343 493 799 Total stock-based compensation $ 268 $ 392 $ 587 $ 897

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Summary of Operating Lease Right-of-Use Assets	The following table summarizes the operating lease right-of-use assets as of June 30, 2021, which are included in “Property and Equipment, Net” on the condensed consolidated balance sheets. June 30, 2021 Gross Carrying Value Accumulated Amortization Net Carrying Value ROU Assets - Office buildings $ 16,756 $ 7,719 $ 9,037 ROU Assets - Other 776 161 615 Total right-of-use assets subject to amortization $ 17,532 $ 7,880 $ 9,652
Schedule of Future Minimum Lease Payments	Future maturities of operating lease liabilities as of June 30, 2021 were as follows (in thousands). The present value of the future minimum lease payments represent our operating lease liabilities as of June 30, 2021 and are included in " Other Liabilities June 30, 2021 Remainder of 2021 $ 2,816 2022 5,831 2023 2,142 2024 1,360 2025 1,395 Thereafter 1,218 Total future minimum lease payments $ 14,762 Less imputed interest (1,222) Present value of future minimum lease payments $ 13,540
Summary of Other Information Related to Leases	Other information related to leases was as follows (dollars in thousands): June 30, 2021 Cash paid for operating leases year-to-date $ 2,614 ROU assets obtained in exchange for new operating lease obligations year-to-date $ 1,773 Weighted average remaining lease term (in years) 3.38 years Weighted average discount rate 5.48 %

RELATED PARTIES (Tables)

RELATED PARTIES (Tables)	6 Months Ended
	Jun. 30, 2021
Entity Information [Line Items]
Aggregate Amount of Notes Purchased and the Income Earned	The aggregate amount of the Notes purchased and the income earned by parties deemed to be affiliates and related parties of Prosper for the three and six months ended June 30, 2021 and June 30, 2020, as well as the Notes outstanding as of June 30, 2021 and December 31, 2020 are summarized below (in thousands): Aggregate Amount of Interest Earned on Notes Related Party 2021 2020 2021 2020 Executive officers and management $ 9 $ 6 $ 2 $ 1 Directors (excluding executive officers and management) 20 110 — 14 Total $ 29 $ 116 $ 2 $ 15 Aggregate Amount of Interest Earned on Notes Related Party 2021 2020 2021 2020 Executive officers and management $ 17 $ 12 $ 3 $ 3 Directors (excluding executive officers and management) 20 231 — 29 Total $ 37 $ 243 $ 3 $ 32 Notes Balance as of Related Party June 30, 2021 December 31, Executive officers and management $ 43 $ 41 Directors (excluding executive officers and management) 18 — Total $ 61 $ 41
Prosper Funding LLC
Entity Information [Line Items]
Aggregate Amount of Notes Purchased and the Income Earned	The aggregate amount of the Notes purchased and the income earned by parties deemed to be related parties of PFL for the six months ended June 30, 2021 and 2020 are summarized below (in thousands): Aggregate Amount of Notes Purchased Interest Earned on Notes Three Months Ended June 30, Three Months Ended June 30, Related Party 2021 2020 2021 2020 Executive officers and management $ 9 $ 6 $ 2 $ 1 Directors (excluding executive officers and management) — — — — Total $ 9 $ 6 $ 2 $ 1 Aggregate Amount of Notes Purchased Interest Earned on Notes Six Months Ended June 30, Six Months Ended June 30, Related Party 2021 2020 2021 2020 Executive officers and management $ 17 $ 12 $ 3 $ 3 Directors (excluding executive officers and management) — — — — Total $ 17 $ 12 $ 3 $ 3 The balance of Notes held by officers and directors who are not executive officers are as follows (in thousands): Notes Balance as of Related Party June 30, 2021 December 31, 2020 Executive officers and management $ 43 $ 41 Directors (excluding executive officers and management) — — Total $ 43 $ 41

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total Property and Equipment, Net	Total Property and Equipment, Net
Property and equipment	$ 85,274	$ 77,858
Less: Accumulated depreciation and amortization	(55,064)	(49,412)
Total Property and Equipment, Net	30,210	28,446
Prosper Funding LLC
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation and amortization	(22,198)	(20,025)
Total Property and Equipment, Net	8,788	6,928
Operating lease right-of-use assets
Property, Plant and Equipment [Line Items]
Operating lease right-of-use assets	17,532	15,767
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment	15,081	13,841
Internal-use software and website development costs
Property, Plant and Equipment [Line Items]
Property and equipment	37,767	33,176
Internal-use software and website development costs | Prosper Funding LLC
Property, Plant and Equipment [Line Items]
Property and equipment	30,986	26,953
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Property and equipment	2,872	2,872
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	7,167	7,167
Assets not yet placed in service
Property, Plant and Equipment [Line Items]
Property and equipment	$ 4,855	$ 5,035

PROPERTY AND EQUIPMENT, NET - A

PROPERTY AND EQUIPMENT, NET - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Depreciation and Amortization			$ 4,642	$ 4,041
Prosper Funding LLC
Property, Plant and Equipment [Line Items]
Depreciation and Amortization	$ 1,200	$ 1,000	2,265	2,051
Property Plant And Equipment
Property, Plant and Equipment [Line Items]
Depreciation and Amortization	2,400	2,000	4,600	3,900
Internal-use software and website development costs
Property, Plant and Equipment [Line Items]
Capitalized internal-use software and website development costs	$ 2,500	$ 2,100	$ 4,500	$ 4,800

BORROWER LOANS, LOANS HELD FO_3

BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE - Aggregate Principal Balances Outstanding and Fair Values of Borrower Loans, Notes and Loans Held for Sale (Details) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2021	Dec. 31, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrower Loans, at Fair Value	[1]	$ 338,939	$ 378,263
Loans Held for Sale, at Fair Value	[1]	249,955	274,621
Notes, at Fair Value		236,041	208,379
Prosper Funding LLC
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrower Loans, at Fair Value		236,844	209,670
Notes, at Fair Value		236,041	208,379
Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal balance outstanding		239,126	217,110
Fair value adjustments		(3,085)	(8,731)
Notes, at Fair Value		236,041	208,379
Notes | Prosper Funding LLC
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal balance outstanding		239,126	217,110
Fair value adjustments		(3,085)	(8,731)
Notes, at Fair Value		236,041	208,379
Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal balance outstanding		342,478	393,642
Fair value adjustments		(3,539)	(15,379)
Borrower Loans, at Fair Value		338,939	378,263
Borrower Loans | Prosper Funding LLC
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal balance outstanding		236,728	215,373
Fair value adjustments		116	(5,703)
Borrower Loans, at Fair Value		236,844	209,670
Loans Held for Sale
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal balance outstanding		250,989	279,113
Fair value adjustments		(1,034)	(4,492)
Loans Held for Sale, at Fair Value		$ 249,955	$ 274,621
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

BORROWER LOANS, LOANS HELD FO_4

BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Non accrual status past due date			120 days
Interest income	$ 8,095	$ 11,375	$ 17,068	$ 22,336
COVID-19 Relief
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Percent of Loans in relief program, cumulative	11.00%		11.00%
Percent of Loans in relief program, active	2.00%		2.00%
Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fixed interest rate, minimum			5.31%		5.31%
Fixed interest rate, maximum			31.82%		31.82%
Fair value of loans originated that are 90 days or more delinquent	$ 100		$ 100		$ 300
Loans in non-accrual status	200		200		400
Borrower Loans | 90 days or more past due
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal amount	1,400		$ 1,400		$ 2,800
Loans Held for Sale
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fixed interest rate, minimum			5.31%		5.31%
Fixed interest rate, maximum			31.82%		31.82%
Fair value of loans originated that are 90 days or more delinquent	100		$ 100		$ 100
Loans in non-accrual status	100		100		100
Interest income			15,200	11,600
Loans Held for Sale | 90 days or more past due
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal amount	600		600		$ 800
Prosper Funding LLC
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest income	$ 581	$ 581	$ 1,125	$ 1,203
Prosper Funding LLC | COVID-19 Relief
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Percent of Loans in relief program, cumulative	11.00%		11.00%
Percent of Loans in relief program, active	2.00%		2.00%
Prosper Funding LLC | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fixed interest rate, minimum			5.31%		5.31%
Fixed interest rate, maximum			31.82%		31.82%
Fair value of loans originated that are 90 days or more delinquent	$ 100		$ 100		$ 100
Non accrual status past due date			120 days
Loans in non-accrual status	100		$ 100		200
Prosper Funding LLC | Borrower Loans | 90 days or more past due
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal amount	$ 700		$ 700		$ 1,400
Minimum | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months			36 months		36 months
Minimum | Loans Held for Sale
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months			36 months		36 months
Minimum | Prosper Funding LLC | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months			36 months		36 months
Maximum | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months			60 months		60 months
Maximum | Loans Held for Sale
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months			60 months		60 months
Maximum | Prosper Funding LLC | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months			60 months		60 months

SERVICING ASSETS (Details)

SERVICING ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Servicing Assets And Liabilities Fair Value [Line Items]
Gain (loss) on sale of borrower loans	$ 1,366	$ 617	$ 2,989	$ 2,361
Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Gain (loss) on sale of borrower loans	1,663	1,182	3,674	3,182
Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Outstanding principle	2,200,000		$ 2,200,000		$ 2,400,000
Fixed interest rate, minimum			5.31%		5.31%
Fixed interest rate, maximum			31.82%		31.82%
Contractually specified servicing fees, late charges and ancillary fees	6,000	7,300	$ 11,700	16,500
Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Outstanding principle	2,600,000		$ 2,600,000		$ 2,400,000
Fixed interest rate, minimum			5.31%		5.31%
Fixed interest rate, maximum			31.82%		31.82%
Contractually specified servicing fees, late charges and ancillary fees	$ 9,000	$ 10,500	$ 18,300	$ 23,000
Minimum | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Maturity, in months			36 months		36 months
Minimum | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Maturity, in months			36 months		36 months
Maximum | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Maturity, in months			60 months		60 months
Maximum | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Maturity, in months			60 months		60 months

SECURITIZATIONS (Details)

SECURITIZATIONS (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust	[1]	$ 94,811	$ 156,782
Borrower Loans, at Fair Value	[1]	338,939	378,263
Risk retention interest and residual certificates held by third party investors at fair value	[1]	15,295	22,917
Primary Beneficiary
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust	[2]	94,811	156,782
Borrower Loans, at Fair Value	[2]	102,095	168,593
Risk retention interest and residual certificates held by third party investors at fair value	[2]	$ 15,295	$ 22,917
PMIT 2019 Securitization Trusts | Primary Beneficiary
Variable Interest Entity [Line Items]
Securitization amount				$ 573,000
PMIT 2019-1 | Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership percentage		65.50%
Debt issuance costs		$ 2,300
Unamortized debt issuance costs		18,900
Borrower Loans, at Fair Value		20,100
Risk retention interest and residual certificates held by third party investors at fair value		2,100
2019-1, Class A Notes | Primary Beneficiary
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust		$ 127,300
Interest rate		3.54%
2019-1, Class B Notes | Primary Beneficiary
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust		$ 25,000
Interest rate		4.03%
2019-1, Class C Notes | Primary Beneficiary
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust		$ 19,300
Interest rate		5.27%
PMIT 2019-2 | Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership percentage		16.40%
Debt issuance costs		$ 1,900
Unamortized debt issuance costs		35,600
Borrower Loans, at Fair Value		39,100
Risk retention interest and residual certificates held by third party investors at fair value		6,700
2019-2, Class A Notes | Primary Beneficiary
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust		$ 110,100
Interest rate		3.20%
2019-2, Class B Notes | Primary Beneficiary
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust		$ 31,400
Interest rate		3.69%
2019-2, Class C Notes | Primary Beneficiary
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust		$ 32,700
Interest rate		5.05%
PMIT 2019-4 | Primary Beneficiary
Variable Interest Entity [Line Items]
Ownership percentage		19.60%
Debt issuance costs		$ 1,200
Unamortized debt issuance costs		40,400
Borrower Loans, at Fair Value		42,900
Risk retention interest and residual certificates held by third party investors at fair value		6,500
2019-4, Class A Notes | Primary Beneficiary
Variable Interest Entity [Line Items]
Securitization amount		$ 102,600
Interest rate		2.48%
2019-4, Class B Notes | Primary Beneficiary
Variable Interest Entity [Line Items]
Securitization amount		$ 19,500
Interest rate		3.20%
2019-4, Class C Notes | Primary Beneficiary
Variable Interest Entity [Line Items]
Securitization amount		$ 16,800
Interest rate		4.95%
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.
[2]	The following table presents the assets and liabilities of consolidated variable interest entities (VIEs), which are included in the condensed consolidated balance sheets above. The assets in the table below may only be used to settle obligations of consolidated VIEs and are in excess of those obligations. Additionally, the assets and liabilities in the table below include third-party assets and liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. See Note 6, Securitizations, and Note 10, Debt, to our Notes to Condensed Consolidated Financial Statements for add itional

FAIR VALUE OF ASSETS AND LIAB_3

FAIR VALUE OF ASSETS AND LIABILITIES - Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020
Assets:
Borrower Loans, at Fair Value	[1]	$ 338,939	$ 378,263
Loans Held for Sale at Fair Value	[1]	249,955	274,621
Servicing Assets		8,944	9,242
Total Assets		597,838	662,126
Liabilities:
Notes, at Fair Value		236,041	208,379
Certificates Issued by Securitization Trust, at Fair Value	[1]	15,295	22,917
Convertible Preferred Stock Warrant Liability		162,436	112,319
Loan Trailing Fee Liability		2,145	2,233
Total Liabilities		415,917	345,848
Prosper Funding LLC
Assets:
Borrower Loans, at Fair Value		236,844	209,670
Servicing Assets		10,389	11,088
Total Assets		247,233	220,758
Liabilities:
Notes, at Fair Value		236,041	208,379
Loan Trailing Fee Liability		2,145	2,233
Total Liabilities		238,186	210,612
Level 1 Inputs
Assets:
Borrower Loans, at Fair Value		0	0
Loans Held for Sale at Fair Value		0	0
Servicing Assets		0	0
Total Assets		0	0
Liabilities:
Notes, at Fair Value		0	0
Certificates Issued by Securitization Trust, at Fair Value		0	0
Convertible Preferred Stock Warrant Liability		0	0
Loan Trailing Fee Liability		0	0
Total Liabilities		0	0
Level 1 Inputs | Prosper Funding LLC
Assets:
Borrower Loans, at Fair Value		0	0
Servicing Assets		0	0
Total Assets		0	0
Liabilities:
Notes, at Fair Value		0	0
Loan Trailing Fee Liability		0	0
Total Liabilities		0	0
Level 2 Inputs
Assets:
Borrower Loans, at Fair Value		0	0
Loans Held for Sale at Fair Value		0	0
Servicing Assets		0	0
Total Assets		0	0
Liabilities:
Notes, at Fair Value		0	0
Certificates Issued by Securitization Trust, at Fair Value		0	0
Convertible Preferred Stock Warrant Liability		0	0
Loan Trailing Fee Liability		0	0
Total Liabilities		0	0
Level 2 Inputs | Prosper Funding LLC
Assets:
Borrower Loans, at Fair Value		0	0
Servicing Assets		0	0
Total Assets		0	0
Liabilities:
Notes, at Fair Value		0	0
Loan Trailing Fee Liability		0	0
Total Liabilities		0	0
Level 3 Inputs
Assets:
Borrower Loans, at Fair Value		338,939	378,263
Loans Held for Sale at Fair Value		249,955	274,621
Servicing Assets		8,944	9,242
Total Assets		597,838	662,126
Liabilities:
Notes, at Fair Value		236,041	208,379
Certificates Issued by Securitization Trust, at Fair Value		15,295	22,917
Convertible Preferred Stock Warrant Liability		162,436	112,319
Loan Trailing Fee Liability		2,145	2,233
Total Liabilities		415,917	345,848
Level 3 Inputs | Prosper Funding LLC
Assets:
Borrower Loans, at Fair Value		236,844	209,670
Servicing Assets		10,389	11,088
Total Assets		247,233	220,758
Liabilities:
Notes, at Fair Value		236,041	208,379
Loan Trailing Fee Liability		2,145	2,233
Total Liabilities		$ 238,186	$ 210,612
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

FAIR VALUE OF ASSETS AND LIAB_4

FAIR VALUE OF ASSETS AND LIABILITIES - Significant Unobservable Inputs - Borrower Loans, Loans Held For Sale and Notes (Details)	Jun. 30, 2021	Dec. 31, 2020
Discount rate
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.0977	0.1112
Discount rate | Minimum
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.046	0.045
Discount rate | Minimum | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.046	0.053
Discount rate | Maximum
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.161	0.177
Discount rate | Maximum | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.127	0.161
Default rate
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.1042	0.1293
Default rate | Minimum
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.003	0.023
Default rate | Minimum | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.024	0.026
Default rate | Maximum
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.173	0.179
Default rate | Maximum | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.152	0.162

FAIR VALUE OF ASSETS AND LIAB_5

FAIR VALUE OF ASSETS AND LIABILITIES - Significant Unobservable Inputs - Certificates Issued by Securitization Trust (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	3.10%	3.30%
Default rate	0.30%	3.20%
Prepayment rate	3.40%	7.60%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	14.00%	16.00%
Default rate	13.00%	15.30%
Prepayment rate	35.50%	35.40%

FAIR VALUE OF ASSETS AND LIAB_6

FAIR VALUE OF ASSETS AND LIABILITIES - Significant Unobservable Inputs - Servicing Rights (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Servicing Rights at Fair Value [Line Items]
Collection fee market rate	0.06%	0.07%
Prosper Funding LLC
Servicing Rights at Fair Value [Line Items]
Collection fee market rate	0.06%	0.07%
Minimum
Servicing Rights at Fair Value [Line Items]
Discount rate	15.00%	15.00%
Default rate	1.90%	1.90%
Prepayment rate	11.60%	12.40%
Market servicing rate	0.625%	0.625%
Weighted-average market servicing rate	0.685%	6950.00%
Minimum | Prosper Funding LLC
Servicing Rights at Fair Value [Line Items]
Discount rate	15.00%	15.00%
Default rate	1.90%	1.90%
Prepayment rate	11.60%	12.40%
Market servicing rate	0.625%	0.625%
Weighted-average market servicing rate	0.685%	6950.00%
Maximum
Servicing Rights at Fair Value [Line Items]
Discount rate	25.00%	25.00%
Default rate	16.80%	17.70%
Prepayment rate	28.60%	28.90%
Market servicing rate	0.818%	0.818%
Weighted-average market servicing rate	0.878%	8880.00%
Maximum | Prosper Funding LLC
Servicing Rights at Fair Value [Line Items]
Discount rate	25.00%	25.00%
Default rate	16.80%	17.70%
Prepayment rate	28.60%	28.90%
Market servicing rate	0.818%	0.818%
Weighted-average market servicing rate	0.878%	8880.00%

FAIR VALUE OF ASSETS AND LIAB_7

FAIR VALUE OF ASSETS AND LIABILITIES - Significant Unobservable Inputs - Loan Trailing Fee Liability (Details)	Jun. 30, 2021	Dec. 31, 2020
Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.0977	0.1112
Discount rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.046	0.045
Discount rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.161	0.177
Discount rate | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.046	0.053
Discount rate | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.127	0.161
Discount rate | Obligations | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.150	0.150
Discount rate | Obligations | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.250	0.250
Discount rate | Obligations | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.150	0.150
Discount rate | Obligations | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.250	0.250
Default rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.1042	0.1293
Default rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.003	0.023
Default rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.173	0.179
Default rate | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.024	0.026
Default rate | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.152	0.162
Default rate | Obligations | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.019	0.019
Default rate | Obligations | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.168	0.177
Default rate | Obligations | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.019	0.019
Default rate | Obligations | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.168	0.177
Prepayment rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.1917	0.2086
Prepayment rate | Obligations | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.116	0.124
Prepayment rate | Obligations | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.286	0.289
Prepayment rate | Obligations | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.116	0.124
Prepayment rate | Obligations | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.286	0.289

FAIR VALUE OF ASSETS AND LIAB_8

FAIR VALUE OF ASSETS AND LIABILITIES - Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Total
Beginning balance, Total	$ 353,260	$ 414,833	$ 479,706	$ 421,588	$ 479,706
Purchase of Borrower Loans/Issuance of Notes	386,749		222,467	792,080	622,743
Principal repayments	(62,513)		(65,791)	(127,501)	(135,646)
Borrower Loans sold to third parties	(339,221)		(138,139)	(745,058)	(496,036)
Other changes	(584)		1,164	(1,168)	705
Change in fair value	(133)		(2,362)	(2,383)	(39,300)
Ending balance, Total	337,558	432,172	414,833	337,558	432,172
Prosper Funding LLC
Total
Beginning balance, Total	518	2,168	966	1,291	966
Purchase of Borrower Loans/Issuance of Notes	386,749	222,467		792,080	622,743
Principal repayments	5	(264)		(708)	(1,512)
Borrower Loans sold to third parties	(386,766)	(223,254)		(793,443)	(623,686)
Other changes	(77)	(51)		11	(4)
Change in fair value	384	195		156	258
Ending balance, Total	803	1,789	2,168	803	1,789
Notes
Liabilities
Beginning balance, Liabilities	(218,494)	(225,491)	(244,171)	(208,379)	(244,171)
Purchase of Borrower Loans/Issuance of Notes	(58,342)		(24,468)	(108,203)	(65,043)
Principal repayments	41,254		36,520	81,042	77,107
Borrower Loans sold to third parties	0		0	0	0
Other changes	32		(396)	219	(257)
Change in fair value	(491)		3,848	(720)	22,377
Ending balance, Liabilities	(236,041)	(209,987)	(225,491)	(236,041)	(209,987)
Notes | Prosper Funding LLC
Liabilities
Beginning balance, Liabilities	(218,494)	(225,491)	(244,171)	(208,379)	(244,171)
Purchase of Borrower Loans/Issuance of Notes	(58,342)	(24,468)		(108,203)	(65,043)
Principal repayments	41,254	36,520		81,042	77,108
Borrower Loans sold to third parties	0	0		0	0
Other changes	32	(395)		219	(257)
Change in fair value	(491)	3,848		(720)	22,377
Ending balance, Liabilities	(236,041)	(209,986)	(225,491)	(236,041)	(209,986)
Certificates Issued by Securitization Trust
Liabilities
Beginning balance, Liabilities	(19,726)	(35,316)	(52,168)	(22,917)	(52,168)
Purchase of Borrower Loans/Issuance of Notes	0		0	0	0
Principal repayments	5,408		5,042	10,893	9,875
Borrower Loans sold to third parties	0		0	0	0
Other changes	39		303	72	341
Change in fair value	(1,016)		(1,600)	(3,343)	10,381
Ending balance, Liabilities	(15,295)	(31,571)	(35,316)	(15,295)	(31,571)
Borrower Loans
Assets
Beginning balance, Assets	351,101	522,404	634,019	378,263	634,019
Purchase of Borrower Loans/Issuance of Notes	58,651		24,363	107,609	65,664
Principal repayments	(70,592)		(82,837)	(145,982)	(179,552)
Borrower Loans sold to third parties	(715)		(1,991)	(1,724)	(4,254)
Other changes	(523)		584	(1,192)	(158)
Change in fair value	1,017		(5,036)	1,965	(58,232)
Ending balance, Assets	338,939	457,487	522,404	338,939	457,487
Borrower Loans | Prosper Funding LLC
Assets
Beginning balance, Assets	219,012	227,659	245,137	209,670	245,137
Purchase of Borrower Loans/Issuance of Notes	58,651	24,363		107,609	65,664
Principal repayments	(41,259)	(36,256)		(80,334)	(75,596)
Borrower Loans sold to third parties	(326)	(682)		(769)	(1,564)
Other changes	(109)	344		(208)	253
Change in fair value	875	(3,653)		876	(22,119)
Ending balance, Assets	236,844	211,775	227,659	236,844	211,775
Loans Held for Sale
Assets
Beginning balance, Assets	240,379	153,236	142,026	274,621	142,026
Purchase of Borrower Loans/Issuance of Notes	386,440		222,572	792,674	622,122
Principal repayments	(38,583)		(24,516)	(73,454)	(43,076)
Borrower Loans sold to third parties	(338,506)		(136,148)	(743,334)	(491,782)
Other changes	(132)		673	(267)	779
Change in fair value	357		426	(285)	(13,826)
Ending balance, Assets	249,955	216,243	153,236	249,955	216,243
Loans Held for Sale | Prosper Funding LLC
Assets
Beginning balance, Assets	0	0	0	0	0
Purchase of Borrower Loans/Issuance of Notes	386,440	222,572		792,674	622,122
Principal repayments	0	0		0	0
Borrower Loans sold to third parties	(386,440)	(222,572)		(792,674)	(622,122)
Other changes	0	0		0	0
Change in fair value	0	0		0	0
Ending balance, Assets	$ 0	$ 0	$ 0	$ 0	$ 0

FAIR VALUE OF ASSETS AND LIAB_9

FAIR VALUE OF ASSETS AND LIABILITIES - Summary of Additional Information for Level 3 Fair Value Balances (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Servicing Assets
Beginning balance				$ 9,242
Ending balance	$ 8,944			8,944
Prosper Funding LLC
Servicing Assets
Beginning balance				11,088
Ending balance	10,389			10,389
Servicing Assets
Servicing Assets
Beginning balance				9,242
Ending balance	8,944			8,944
Servicing Assets | Prosper Funding LLC
Servicing Assets
Beginning balance				11,088
Ending balance	10,389			10,389
Level 3 Inputs
Servicing Assets
Beginning balance				9,242
Ending balance	8,944			8,944
Level 3 Inputs | Prosper Funding LLC
Servicing Assets
Beginning balance				11,088
Ending balance	10,389			10,389
Level 3 Inputs | Servicing Assets
Servicing Assets
Beginning balance	9,248	$ 11,742	$ 12,602	9,242	$ 12,602
Additions	1,760	729		3,779	2,703
Less: Changes in fair value	(2,064)	(2,398)		(4,077)	(5,232)
Ending balance	8,944	10,073	11,742	8,944	10,073
Level 3 Inputs | Servicing Assets | Prosper Funding LLC
Servicing Assets
Beginning balance	10,770	13,690	14,888	11,088	14,888
Additions	2,022	1,206		4,376	3,402
Less: Changes in fair value	(2,403)	(2,833)		(5,075)	(6,227)
Ending balance	10,389	12,063	13,690	10,389	12,063
Level 3 Inputs | Mandatorily Redeemable Preferred Stock
Liabilities
Beginning balance	156,750	94,547	149,996	112,319	149,996
Change in fair value	5,686	(19,549)		50,117	(74,998)
Ending balance	162,436	74,998	94,547	162,436	74,998
Level 3 Inputs | Loan Trailing Fee Liability
Liabilities
Beginning balance	2,189	2,646	2,997	2,233	2,997
Issuances	407	240		817	625
Principal repayments	(522)	(596)		(1,066)	(1,271)
Change in fair value	71	113		161	52
Ending balance	2,145	2,403	2,646	2,145	2,403
Level 3 Inputs | Loan Trailing Fee Liability | Prosper Funding LLC
Liabilities
Beginning balance	2,189	2,646	2,997	2,233	2,997
Issuances	407	240		817	625
Principal repayments	(522)	(596)		(1,066)	(1,271)
Change in fair value	71	113		161	52
Ending balance	$ 2,145	$ 2,403	$ 2,646	$ 2,145	$ 2,403

FAIR VALUE OF ASSETS AND LIA_10

FAIR VALUE OF ASSETS AND LIABILITIES - Fair Value Assumptions for Borrower Loans, Loans Held for Sale and Notes (Details) $ in Thousands		Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	[1]	$ 338,939	$ 378,263
Notes, at Fair Value		236,041	208,379
Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value		236,844	209,670
Notes, at Fair Value		236,041	208,379
Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes, at Fair Value		236,041	208,379
Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value			209,670
Notes, at Fair Value		236,041	208,379
Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value		588,894	652,884
Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value		236,844	209,670
Discount rate assumption | 100 basis point increase | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes		233,756	206,528
Discount rate assumption | 100 basis point increase | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans			207,810
Notes		233,756	206,528
Discount rate assumption | 100 basis point increase | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		583,202	647,093
Discount rate assumption | 100 basis point increase | Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		234,555	207,810
Discount rate assumption | 200 basis point incease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes		231,528	204,720
Discount rate assumption | 200 basis point incease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans			205,994
Notes		231,528	204,720
Discount rate assumption | 200 basis point incease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		577,651	641,437
Discount rate assumption | 200 basis point incease | Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		232,322	205,994
Discount rate assumption | 100 basis point decrease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes		238,385	210,274
Discount rate assumption | 100 basis point decrease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans			211,575
Notes		238,385	210,274
Discount rate assumption | 100 basis point decrease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		594,733	658,817
Discount rate assumption | 100 basis point decrease | Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		239,192	211,575
Discount rate assumption | 200 basis point decrease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes		240,789	212,217
Discount rate assumption | 200 basis point decrease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans			213,527
Notes		240,789	212,217
Discount rate assumption | 200 basis point decrease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		600,724	664,895
Discount rate assumption | 200 basis point decrease | Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		241,601	213,527
Default rate assumption | 10 percent increase | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes		233,774	206,304
Default rate assumption | 10 percent increase | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans			207,594
Notes		233,774	206,304
Default rate assumption | 10 percent increase | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		583,270	646,421
Default rate assumption | 10 percent increase | Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		234,582	207,594
Default rate assumption | 20 percent increase | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes		231,521	204,238
Default rate assumption | 20 percent increase | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans			205,528
Notes		231,521	204,238
Default rate assumption | 20 percent increase | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		577,684	639,987
Default rate assumption | 20 percent increase | Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		232,335	205,528
Default rate assumption | 10 percent decrease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes		238,322	210,463
Default rate assumption | 10 percent decrease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans			211,755
Notes		238,322	210,463
Default rate assumption | 10 percent decrease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		594,551	659,377
Default rate assumption | 10 percent decrease | Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		239,119	211,755
Default rate assumption | 20 percent decrease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes		240,617	212,558
Default rate assumption | 20 percent decrease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans			213,851
Notes		240,617	212,558
Default rate assumption | 20 percent decrease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		600,243	665,904
Default rate assumption | 20 percent decrease | Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		$ 241,408	$ 213,851
Discount rate
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions		0.0977	0.1112
Discount rate | Discount rate assumption | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions		0.0674	0.0893
Discount rate | Discount rate assumption | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions		0.0674	0.0893
Discount rate | Discount rate assumption | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions		0.0681	0.0826
Discount rate | Discount rate assumption | Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions		0.0674	0.0893
Default rate
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions		0.1042	0.1293
Default rate | Default rate assumption | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions		0.1120	0.1226
Default rate | Default rate assumption | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions		0.1120	0.1226
Default rate | Default rate assumption | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions		0.1044	0.1158
Default rate | Default rate assumption | Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions		0.1120	0.1226
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

FAIR VALUE OF ASSETS AND LIA_11

FAIR VALUE OF ASSETS AND LIABILITIES - Fair Value Assumptions for Certificates Issued by Securitization Trust (Details) $ in Thousands		Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Certificates Issued by Securitization Trust, at Fair Value	[1]	$ 15,295	$ 22,917
Level 3 Inputs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Certificates Issued by Securitization Trust, at Fair Value		15,295	22,917
Discount rate assumption | 100 basis point increase
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected fair value with change in assumptions		15,171	22,729
Discount rate assumption | 200 basis point incease
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected fair value with change in assumptions		15,051	22,545
Discount rate assumption | 100 basis point decrease
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected fair value with change in assumptions		15,422	23,110
Discount rate assumption | 200 basis point decrease
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected fair value with change in assumptions		15,552	23,308
Default rate assumption | 10 percent increase
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected fair value with change in assumptions		14,732	21,798
Default rate assumption | 20 percent increase
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected fair value with change in assumptions		14,175	20,690
Default rate assumption | 10 percent decrease
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected fair value with change in assumptions		15,854	24,030
Default rate assumption | 20 percent decrease
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected fair value with change in assumptions		16,417	25,150
Prepayment rate assumption | 10 percent increase
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected fair value with change in assumptions		15,300	22,933
Prepayment rate assumption | 20 percent increase
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected fair value with change in assumptions		15,307	22,958
Prepayment rate assumption | 10 percent decrease
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected fair value with change in assumptions		15,284	22,891
Prepayment rate assumption | 20 percent decrease
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected fair value with change in assumptions		$ 15,279	$ 22,872
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement inputs		0.0977	0.1112
Default rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement inputs		0.1042	0.1293
Prepayment rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement inputs		0.1917	0.2086
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

FAIR VALUE OF ASSETS AND LIA_12

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Prosper's and Prosper Funding's Estimated Fair Value of Servicing Assets and Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Servicing Assets And Liabilities Fair Value [Line Items]
Servicing Assets	$ 8,944	$ 9,242
Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Servicing Assets	10,389	11,088
Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Servicing Assets	8,944	9,242
Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Servicing Assets	10,389	11,088
Market servicing rate | Servicing Assets | Market servicing rate increase of 0.025%
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	8,404	8,689
Market servicing rate | Servicing Assets | Market servicing rate increase of 0.025% | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	9,762	10,424
Market servicing rate | Servicing Assets | Market servicing rate decrease of 0.025%
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	9,483	9,796
Market servicing rate | Servicing Assets | Market servicing rate decrease of 0.025% | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	11,015	11,752
Prepayment rate assumption | Servicing Assets | Applying a 1.1 multiplier to prepayment rate
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	8,768	9,064
Prepayment rate assumption | Servicing Assets | Applying a 1.1 multiplier to prepayment rate | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	10,185	10,874
Prepayment rate assumption | Servicing Assets | Applying a 0.9 multiplier to prepayment rate
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	9,121	9,423
Prepayment rate assumption | Servicing Assets | Applying a 0.9 multiplier to prepayment rate | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	10,595	11,304
Default rate assumption | Servicing Assets | Applying a 1.1 multiplier to default rate
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	8,816	9,116
Default rate assumption | Servicing Assets | Applying a 1.1 multiplier to default rate | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	10,241	10,936
Default rate assumption | Servicing Assets | Applying a 0.9 multiplier to default rate
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	9,071	9,369
Default rate assumption | Servicing Assets | Applying a 0.9 multiplier to default rate | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	$ 10,537	$ 11,239
Market servicing rate | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	0.628%	0.631%
Market servicing rate | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	0.628%	0.631%
Prepayment rate | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	19.77%	19.84%
Prepayment rate | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	19.77%	19.84%
Default rate | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	12.99%	12.78%
Default rate | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	12.99%	12.78%

FAIR VALUE OF ASSETS AND LIA_13

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Prosper's and Prosper Funding's Estimated Fair Value of Servicing Assets and Liabilities - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing rate increase	0.025%
Servicing rate decrease	0.025%
Prepayment rate assumption
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Prepayment rate increase	1.10%
Prepayment rate decrease	0.90%
Default rate assumption
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Default rate increase	1.10%
Default rate decrease	0.90%

FAIR VALUE OF ASSETS AND LIA_14

FAIR VALUE OF ASSETS AND LIABILITIES - Financial Instruments, Assets and Liabilities not Recorded at Fair Value (Details) - USD ($) $ in Thousands		Jun. 30, 2021		Dec. 31, 2020		Jun. 30, 2020
Assets:
Cash and Cash Equivalents		$ 56,018		$ 50,145		$ 46,575
Restricted Cash		205,377	[1]	163,723	[1]	$ 143,318
Accounts Receivable	[1]	1,088		605
Total Assets		935,194		947,109
Liabilities:
Accounts Payable and Accrued Liabilities		20,328		17,876
Payable to Investors		174,387		124,094
Notes Issued by Securitization Trust	[1]	94,811		156,782
Warehouse Lines	[1]	219,467		242,479
Paycheck Protection Program loan (Note 10)		8,547		8,505
Total Liabilities		948,001		909,903
Carrying Amount
Assets:
Cash and Cash Equivalents		56,018		50,145
Accounts Receivable		1,088		605
Total Assets		262,483		214,473
Liabilities:
Accounts Payable and Accrued Liabilities		20,328		17,876
Payable to Investors		174,387		124,094
Notes Issued by Securitization Trust		94,811		156,782
Warehouse Lines		219,467		242,479
Paycheck Protection Program loan (Note 10)		8,547		8,505
Total Liabilities		517,540		549,736
Carrying Amount | Cash and Cash Equivalents
Assets:
Restricted Cash		200,500		158,846
Carrying Amount | Certificates of Deposit
Assets:
Restricted Cash		4,877		4,877
Balance at Fair Value
Assets:
Cash and Cash Equivalents		56,018		50,145
Accounts Receivable		1,088		605
Total Assets		262,483		214,473
Liabilities:
Accounts Payable and Accrued Liabilities		20,328		17,876
Payable to Investors		174,387		124,094
Notes Issued by Securitization Trust		97,556		158,951
Warehouse Lines		222,015		242,261
Paycheck Protection Program loan (Note 10)		8,544		8,540
Total Liabilities		522,830		551,722
Balance at Fair Value | Cash and Cash Equivalents
Assets:
Restricted Cash		200,500		158,846
Balance at Fair Value | Certificates of Deposit
Assets:
Restricted Cash		4,877		4,877
Level 1 Inputs
Assets:
Cash and Cash Equivalents		56,018		50,145
Accounts Receivable		0		0
Total Assets		256,518		208,991
Liabilities:
Accounts Payable and Accrued Liabilities		0		0
Payable to Investors		0		0
Notes Issued by Securitization Trust		0		0
Warehouse Lines		0		0
Paycheck Protection Program loan (Note 10)		0		0
Total Liabilities		0		0
Level 1 Inputs | Cash and Cash Equivalents
Assets:
Restricted Cash		200,500		158,846
Level 1 Inputs | Certificates of Deposit
Assets:
Restricted Cash		0		0
Level 2 Inputs
Assets:
Cash and Cash Equivalents		0		0
Accounts Receivable		1,088		605
Total Assets		5,965		5,482
Liabilities:
Accounts Payable and Accrued Liabilities		20,328		17,876
Payable to Investors		174,387		124,094
Notes Issued by Securitization Trust		97,556		158,951
Warehouse Lines		222,015		242,261
Paycheck Protection Program loan (Note 10)		8,544		8,540
Total Liabilities		522,830		551,722
Level 2 Inputs | Cash and Cash Equivalents
Assets:
Restricted Cash		0		0
Level 2 Inputs | Certificates of Deposit
Assets:
Restricted Cash		4,877		4,877
Level 3 Inputs
Assets:
Cash and Cash Equivalents		0		0
Accounts Receivable		0		0
Total Assets		0		0
Liabilities:
Accounts Payable and Accrued Liabilities		0		0
Payable to Investors		0		0
Notes Issued by Securitization Trust		0		0
Warehouse Lines		0		0
Paycheck Protection Program loan (Note 10)		0		0
Total Liabilities		0		0
Level 3 Inputs | Cash and Cash Equivalents
Assets:
Restricted Cash		0		0
Level 3 Inputs | Certificates of Deposit
Assets:
Restricted Cash		$ 0		$ 0
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Additional Information (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Goodwill And Other Intangible Assets [Line Items]
Goodwill		$ 36,368,000		$ 36,368,000
Goodwill impairment		0	$ 0
Intangible assets, net		414,000		$ 500,000
Amortization of intangible assets	$ 100,000	100,000	$ 100,000
User base and customer relationships
Goodwill And Other Intangible Assets [Line Items]
Intangible assets, net		$ 414,000
Intangible assets amortized period		3 years 9 months 18 days
User base and customer relationships | Minimum
Goodwill And Other Intangible Assets [Line Items]
Intangible assets amortized period		3 years
User base and customer relationships | Maximum
Goodwill And Other Intangible Assets [Line Items]
Intangible assets amortized period		10 years

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Summary of Other Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 8,170
Accumulated Amortization	(7,756)
Net Carrying Value	414	$ 500
Developed technology
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	3,060
Accumulated Amortization	(3,060)
Net Carrying Value	0
User base and customer relationships
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	5,050
Accumulated Amortization	(4,636)
Net Carrying Value	$ 414
Remaining Useful Life (In Years)	3 years 9 months 18 days
Brand name
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 60
Accumulated Amortization	(60)
Net Carrying Value	$ 0

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Summary of Estimated Amortization of Purchased Intangible Assets (Details) $ in Thousands	Jun. 30, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021 (remainder thereof)	$ 86
2022	136
2023	107
2024	85
Total	$ 414

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Other Liabilities [Abstract]
Operating lease liabilities	$ 13,540	$ 13,342
Paycheck Protection Program loan (Note 10)	8,547	8,505
Loan trailing fee liability	2,145	2,233
Deferred income tax liability	531	489
Financing lease liabilities	155	0
Deferred revenue	26	63
Other	292	425
Total Other Liabilities	$ 25,236	$ 25,057
Operating lease liability, location	Total Other Liabilities	Total Other Liabilities
Finance lease liability, location	Total Other Liabilities	Total Other Liabilities

DEBT (Details)

DEBT (Details)		Mar. 04, 2021USD ($)	Jun. 20, 2019	Mar. 28, 2019USD ($)	Apr. 30, 2019	Jun. 30, 2021USD ($)	May 19, 2021USD ($)	Dec. 31, 2020USD ($)	Apr. 30, 2020USD ($)	Jun. 12, 2018USD ($)	Jan. 19, 2018USD ($)
Line of Credit Facility [Line Items]
Warehouse Lines	[1]					$ 219,467,000		$ 242,479,000
Loans Held for Sale at Fair Value	[1]					249,955,000		274,621,000
Paycheck Protection Program loan (Note 10)						8,547,000		$ 8,505,000
Swaptation
Line of Credit Facility [Line Items]
Derivative asset						100,000
Warehouse Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Minimum tangible net worth						25,000,000
Minimum net liquidity						$ 15,000,000
Maximum leverage ratio						5
PWIT | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity										$ 200,000,000	$ 100,000,000
Repayment period			24 months
Advance rate			87.00%
Commitment fee percent			0.50%
Warehouse Lines						$ 101,300,000
Loans Held for Sale at Fair Value						117,100,000
Undrawn portion						98,700,000
Capitalized debt issuance cost						2,200,000	$ 300,000
PWIIT | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 300,000,000
Repayment period		24 months		24 months
Advance rate		90.00%
Warehouse Lines						118,200,000
Loans Held for Sale at Fair Value						132,000,000
Undrawn portion						181,800,000
Capitalized debt issuance cost						1,300,000
PWIIT Class A | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 230,000,000
Commitment fee percent		0.50%
PWIIT Class B | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 70,000,000
PWIIT Class B | Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Commitment fee percent		0.50%
PWIIT Class B | Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Commitment fee percent		1.00%
PPP Loan
Line of Credit Facility [Line Items]
Loan at time of issuance									$ 8,400,000
Stated interest rate									1.00%
Remaining contractual term (in years)					2 years
Paycheck Protection Program loan (Note 10)						$ 8,500,000
LIBOR | PWIT | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate			2.75%
LIBOR | PWIIT Class A | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate		2.05%
Increase to basis spread		0.375%
LIBOR | PWIIT Class B | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate		8.75%
Increase to basis spread		0.375%
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

NET INCOME (LOSS) PER SHARE - B

NET INCOME (LOSS) PER SHARE - Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net (Loss) Income	$ (5,805)	$ (44,889)	$ 17,641	$ 21,130	$ (50,694)	$ 38,771
Plus: Return on Share Purchase	0		0		0	0
Less: Net Income Allocated to Participating Securities	0		(13,153)		0	(28,908)
Net (Loss) Income Attributable to Common Stockholders, Basic	(5,805)		4,488		(50,694)	9,863
Net (Loss) Income Attributable to Common Stockholders, Diluted	$ (5,805)		$ 4,488		$ (50,694)	$ 9,863
Denominator:
Weighted average shares used in computing basic net (loss) income per share	70,868,080		68,455,641		70,110,288	68,454,872
Effect of dilutive securities:
Stock options (in shares)	0		126,926		0	337,446
Convertible preferred stock warrants (in shares)	0		213,264,845		0	213,264,845
Weighted average shares used in computing diluted Net (Loss) Income per Share	70,868,080		281,847,412		70,110,288	282,057,163
Net (Loss) Income Per Share - Basic (in dollars per share)	$ (0.08)		$ 0.07		$ (0.72)	$ 0.14
Net (Loss) Income Per Share - Diluted (in dollars per share)	$ (0.08)		$ 0.02		$ (0.72)	$ 0.03

NET INCOME (LOSS) PER SHARE - C

NET INCOME (LOSS) PER SHARE - Common Stock Equivalents Excluded from Computation of Diluted Net Income (Loss) Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from diluted net (loss) income per common share computation (in shares)	447,348,906	283,739,139	446,697,447	283,154,377
Convertible preferred stock issued and outstanding, excluding shares held by consolidated VIE
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from diluted net (loss) income per common share computation (in shares)	158,365,655	209,613,570	158,365,655	209,613,570
Stock options issued and outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from diluted net (loss) income per common share computation (in shares)	74,638,057	73,045,220	73,986,598	72,460,458
Warrants issued and outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from diluted net (loss) income per common share computation (in shares)	1,080,349	1,080,349	1,080,349	1,080,349
Series E-1 convertible preferred stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from diluted net (loss) income per common share computation (in shares)	35,544,141	0	35,544,141	0
Series F convertible preferred stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from diluted net (loss) income per common share computation (in shares)	177,720,704	0	177,720,704	0

CONVERTIBLE PREFERRED STOCK, _3

CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK - Additional Information (Details)	Jul. 21, 2020shares	Feb. 27, 2017$ / sharesshares	Dec. 16, 2016	Feb. 16, 2016	Jun. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)time$ / sharesshares	Jun. 30, 2020USD ($)	Dec. 31, 2020$ / sharesshares	Sep. 20, 2017$ / sharesshares
Class of Stock [Line Items]
Common and preferred stock, shares authorized (in shares)										1,069,760,848
Common stock, authorized (in shares)					625,000,000		625,000,000		625,000,000	625,000,000
Common stock, par value (in dollars per share) | $ / shares					$ 0.01		$ 0.01		$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)					444,760,848		444,760,848		444,760,848	444,760,848
Preferred stock, par value (in dollars per share) | $ / shares										$ 0.01
Common stock, issued (in shares)					71,829,765		71,829,765		70,075,307
Common stock, outstanding (in shares)					70,893,830		70,893,830		69,139,372
Common Stock
Class of Stock [Line Items]
Stock split conversion ratio				5
Exercise of stock options (in shares)							1,754,458
Cash proceeds | $							$ 36,000
Series A
Class of Stock [Line Items]
Conversion ratio					1		1
Times the original issue | time							3
Liquidation preference (in dollars per share) | $ / shares					$ 0.29		$ 0.29
Preferred stock, shares authorized (in shares)					68,558,220		68,558,220
Series A | Convertible Preferred Stock Held by Consolidated VIE
Class of Stock [Line Items]
Purchase of convertible preferred stock by consolidated VIE Prosper Grantor Trust (in shares)	34,670,420
Series B
Class of Stock [Line Items]
IPO value (at least) | $							$ 2,000,000,000
Aggregate proceeds (at least) | $							$ 100,000,000
Voting power (at least)							60.00%
Liquidation preference (in dollars per share) | $ / shares					$ 0.60		$ 0.60
Preferred stock, shares authorized (in shares)					35,775,880		35,775,880
Series B | Convertible Preferred Stock Held by Consolidated VIE
Class of Stock [Line Items]
Purchase of convertible preferred stock by consolidated VIE Prosper Grantor Trust (in shares)	16,577,495
Series A-1
Class of Stock [Line Items]
Voting power (at least)							14.00%
Conversion ratio					1,000,000		1,000,000
Liquidation preference (in dollars per share) | $ / shares					$ 2		$ 2
Preferred stock, shares authorized (in shares)					24,760,915		24,760,915
Series D
Class of Stock [Line Items]
Voting power (at least)							60.00%
Liquidation preference (in dollars per share) | $ / shares					$ 6.91		$ 6.91
Series E1 and E2 Preferred Stock
Class of Stock [Line Items]
Voting power (at least)							60.00%
Series F
Class of Stock [Line Items]
Voting power (at least)							60.00%
Preferred stock, liquidation preference, conversion basis							0.666666666666667
Preferred stock, liquidation preference, conversion basis, after payment							0.333333333333333
Liquidation preference (in dollars per share) | $ / shares					$ 0.84		$ 0.84
Warrant to purchase (in shares)		177,720,706
Exercise price (in dollars per share) | $ / shares		$ 0.01
Warrant expiration period		10 years
Income (expense) amount | $					$ (5,300,000)	$ 16,000,000	$ (42,700,000)	$ 62,200,000
Preferred stock, shares authorized (in shares)					177,720,707		177,720,707
Series G
Class of Stock [Line Items]
Voting power (at least)							60.00%
Conversion ratio					1.36		1.36
Liquidation preference (in dollars per share) | $ / shares					$ 1.34		$ 1.34
Preferred stock, shares authorized (in shares)					37,249,497		37,249,497
Series C
Class of Stock [Line Items]
Liquidation preference (in dollars per share) | $ / shares					$ 2.87		$ 2.87
Preferred stock, shares authorized (in shares)					24,404,770		24,404,770
Series E-1
Class of Stock [Line Items]
Liquidation preference (in dollars per share) | $ / shares					$ 0.84		$ 0.84
Warrant to purchase (in shares)		15,277,006
Warrant expiration period			10 years
Income (expense) amount | $					$ (400,000)	$ 3,600,000	$ (7,500,000)	$ 12,800,000
Preferred stock, shares authorized (in shares)					35,544,141		35,544,141
Series E-2
Class of Stock [Line Items]
Preferred stock, liquidation preference, conversion basis							0.666666666666667
Preferred stock, liquidation preference, conversion basis, after payment							0.333333333333333
Liquidation preference (in dollars per share) | $ / shares					$ 0.84		$ 0.84
Preferred stock, shares authorized (in shares)					16,858,078		16,858,078

CONVERTIBLE PREFERRED STOCK, _4

CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK - Summary of Shares Authorized, Issued, Outstanding, Par Value and Liquidation Preference of Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 20, 2017
Class of Stock [Line Items]
Convertible preferred stock, par value (in dollars per share)	$ 0.01		$ 0.01
Convertible preferred stock, authorized (in shares)	444,760,848		444,760,848				444,760,848
Convertible preferred stock, issued (in shares)	209,613,570		209,613,570
Convertible preferred stock, outstanding (in shares)	209,613,570		209,613,570
Liquidation Preference, Outstanding Shares	$ 370,456		$ 370,456
Convertible Preferred Stock Held by Consolidated VIE
Class of Stock [Line Items]
Convertible preferred stock, outstanding (in shares)	(51,247,915)	(51,247,915)	(51,247,915)	0	0	0
Series A
Class of Stock [Line Items]
Convertible preferred stock, par value (in dollars per share)	$ 0.01
Convertible preferred stock, authorized (in shares)	68,558,220
Convertible preferred stock, issued (in shares)	66,428,185
Convertible preferred stock, outstanding (in shares)	66,428,185
Liquidation Preference, Outstanding Shares	$ 19,160
Series A | Convertible Preferred Stock Held by Consolidated VIE
Class of Stock [Line Items]
Convertible preferred stock, issued (in shares)	34,670,420
Convertible preferred stock, outstanding (in shares)	34,670,420
Series A-1
Class of Stock [Line Items]
Convertible preferred stock, par value (in dollars per share)	$ 0.01
Convertible preferred stock, authorized (in shares)	24,760,915
Convertible preferred stock, issued (in shares)	22,515,315
Convertible preferred stock, outstanding (in shares)	22,515,315
Liquidation Preference, Outstanding Shares	$ 45,031
Series B
Class of Stock [Line Items]
Convertible preferred stock, par value (in dollars per share)	$ 0.01
Convertible preferred stock, authorized (in shares)	35,775,880
Convertible preferred stock, issued (in shares)	35,127,160
Convertible preferred stock, outstanding (in shares)	35,127,160
Liquidation Preference, Outstanding Shares	$ 21,190
Series B | Convertible Preferred Stock Held by Consolidated VIE
Class of Stock [Line Items]
Convertible preferred stock, issued (in shares)	16,577,495
Convertible preferred stock, outstanding (in shares)	16,577,495
Series C
Class of Stock [Line Items]
Convertible preferred stock, par value (in dollars per share)	$ 0.01
Convertible preferred stock, authorized (in shares)	24,404,770
Convertible preferred stock, issued (in shares)	24,404,770
Convertible preferred stock, outstanding (in shares)	24,404,770
Liquidation Preference, Outstanding Shares	$ 70,075
Series D
Class of Stock [Line Items]
Convertible preferred stock, par value (in dollars per share)	$ 0.01
Convertible preferred stock, authorized (in shares)	23,888,640
Convertible preferred stock, issued (in shares)	23,888,640
Convertible preferred stock, outstanding (in shares)	23,888,640
Liquidation Preference, Outstanding Shares	$ 165,000
Series E-1
Class of Stock [Line Items]
Convertible preferred stock, par value (in dollars per share)	$ 0.01
Convertible preferred stock, authorized (in shares)	35,544,141
Convertible preferred stock, issued (in shares)	0
Convertible preferred stock, outstanding (in shares)	0
Liquidation Preference, Outstanding Shares	$ 0
Series E-2
Class of Stock [Line Items]
Convertible preferred stock, par value (in dollars per share)	$ 0.01
Convertible preferred stock, authorized (in shares)	16,858,078
Convertible preferred stock, issued (in shares)	0
Convertible preferred stock, outstanding (in shares)	0
Liquidation Preference, Outstanding Shares	$ 0
Series F
Class of Stock [Line Items]
Convertible preferred stock, par value (in dollars per share)	$ 0.01
Convertible preferred stock, authorized (in shares)	177,720,707
Convertible preferred stock, issued (in shares)	3
Convertible preferred stock, outstanding (in shares)	3
Liquidation Preference, Outstanding Shares	$ 0
Series G
Class of Stock [Line Items]
Convertible preferred stock, par value (in dollars per share)	$ 0.01
Convertible preferred stock, authorized (in shares)	37,249,497
Convertible preferred stock, issued (in shares)	37,249,497
Convertible preferred stock, outstanding (in shares)	37,249,497
Liquidation Preference, Outstanding Shares	$ 50,000

CONVERTIBLE PREFERRED STOCK, _5

CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK - Schedule of Assumptions Used (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Volatility | Series E-1
Class of Stock [Line Items]
Fair value assumptions	0.580	0.600
Volatility | Series F
Class of Stock [Line Items]
Fair value assumptions	0.580	0.600
Risk-free interest rate | Series E-1
Class of Stock [Line Items]
Fair value assumptions	0.0040	0.0020
Risk-free interest rate | Series F
Class of Stock [Line Items]
Fair value assumptions	0.0040	0.0020
Expected term (in years) | Series E-1
Class of Stock [Line Items]
Remaining contractual term (in years)	2 years 9 months	2 years 9 months
Expected term (in years) | Series F
Class of Stock [Line Items]
Remaining contractual term (in years)	2 years 9 months	2 years 9 months
Dividend yield | Series E-1
Class of Stock [Line Items]
Fair value assumptions	0	0
Dividend yield | Series F
Class of Stock [Line Items]
Fair value assumptions	0	0

CONVERTIBLE PREFERRED STOCK, _6

CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK - Warrant Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Warrants or Rights [Roll Forward]
Change in fair value	$ 50,117	$ (74,998)
Convertible Preferred Stock Warrant
Warrants or Rights [Roll Forward]
Beginning balance	112,319	149,996
Change in fair value	50,117	(74,998)
Ending balance	$ 162,436	$ 74,998

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Plan repricing, unamortized cost	$ 46,000		$ 46,000
Plan repricing, unamortized cost, vesting period			1 year 9 months 18 days
Options outstanding, term			6 years 10 months 13 days
Dividend yield	0.00%	0.00%	0.00%	0.00%
Internal-use software and website development costs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation capitalized		$ 100,000	$ 100,000	$ 100,000
Stock options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized cost of unvested share-based compensation awards.	$ 0		0
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unamortized expense related to unvested stock-based awards	$ 1,300,000		$ 1,300,000
Weighted average vesting period			2 years
RSUs | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years
RSUs | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			4 years

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summarized Option Activity under Option Plan (Details) - 2005 Stock Plan and 2015 Stock Option Plan	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Options Issued and Outstanding
Beginning Balance (in shares) | shares	72,915,449
Options issued (in shares) | shares	8,668,166
Options exercised (in shares) | shares	(1,754,458)
Options forfeited (in shares) | shares	(11,742,812)
Options expired (in shares) | shares	(14,595)
Ending balance (in shares) | shares	68,071,750
Options vested and expected to vest (in shares) | shares	52,252,350
Options vested and exercisable (in shares) | shares	47,648,686
Weighted Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 0.02
Options issued (in dollars per share) | $ / shares	0.10
Options exercised (in dollars per share) | $ / shares	0.02
Options forfeited (in dollars per share) | $ / shares	0.02
Options expired (in dollars per share) | $ / shares	0.02
Ending balance (in dollars per share) | $ / shares	0.03
Options vested and expected to vest (in dollars per share) | $ / shares	0.03
Options vested and exercisable (in dollars per share) | $ / shares	$ 0.02

STOCK-BASED COMPENSATION - Fair

STOCK-BASED COMPENSATION - Fair Value of Stock Option Awards (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair value of stock option awards [Abstract]
Volatility of common stock	67.60%	55.37%	64.00%	47.93%
Risk-free interest rate	1.04%	0.44%	1.01%	0.66%
Expected life	6 years	6 years	6 years	6 years
Dividend yield	0.00%	0.00%	0.00%	0.00%

STOCK-BASED COMPENSATION - Su_2

STOCK-BASED COMPENSATION - Summarized Activities for the Company's RSU's (Details) - RSUs	6 Months Ended
	Jun. 30, 2021$ / sharesshares
Number of Shares
Unvested, beginning balance (in shares) | shares	4,661,141
Forfeited (in shares) | shares	(1,786,793)
Unvested, ending balance (in shares) | shares	2,874,348
Weighted-Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share) | $ / shares	$ 0.91
Forfeited (in dollars per share) | $ / shares	0.54
Unvested, ending balance (in dollars per share) | $ / shares	$ 1.14

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock Based Compensation Included in Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 268	$ 392	$ 587	$ 897
Origination and servicing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	30	34	62	72
Sales and marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	16	15	32	26
General and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 222	$ 343	$ 493	$ 799

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Taxes [Line Items]
Income Tax Expense	$ 21,000	$ 34,000	$ 42,000	$ 68,000
Prosper Funding LLC
Income Taxes [Line Items]
Income Tax Expense	$ 0	$ 0	$ 0	$ 0
Net effective tax rate			0.00%

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Renewal term	5 years		5 years
Rental expense under operating lease arrangements	$ 1,100,000	$ 1,500,000	$ 2,200,000	$ 3,000,000
Sublease income	100,000	200,000	200,000	300,000
Impairment of Operating Lease Right-of-use Asset	$ 0	$ 200,000	$ 0	$ 228,000
Operating lease liability, location	Other Liabilities		Other Liabilities		Other Liabilities
Minimum
Lessee, Lease, Description [Line Items]
Operating lease contract term	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease contract term	6 years		6 years

LEASES - Operating Lease Right-

LEASES - Operating Lease Right-of-Use Assets (Details) $ in Thousands	Jun. 30, 2021USD ($)
Lessee, Lease, Description [Line Items]
Gross Carrying Value	$ 17,532
Accumulated Amortization	7,880
Net Carrying Value	9,652
ROU Assets - Office buildings
Lessee, Lease, Description [Line Items]
Gross Carrying Value	16,756
Accumulated Amortization	7,719
Net Carrying Value	9,037
ROU Assets - Other
Lessee, Lease, Description [Line Items]
Gross Carrying Value	776
Accumulated Amortization	161
Net Carrying Value	$ 615

LEASES - Schedule of Lease Matu

LEASES - Schedule of Lease Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule of Lease Maturity
Remainder of 2021	$ 2,816
2022	5,831
2023	2,142
2024	1,360
2025	1,395
Thereafter	1,218
Total future minimum lease payments	14,762
Less imputed interest	(1,222)
Present value of future minimum lease payments	$ 13,540	$ 13,342

LEASES - Other Information Rela

LEASES - Other Information Related to Leases (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Leases [Abstract]
Cash paid for operating leases year-to-date	$ 2,614
ROU assets obtained in exchange for new operating lease obligations year-to-date	$ 1,773
Weighted average remaining lease term (in years)	3 years 4 months 17 days
Weighted average discount rate	5.48%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Commitments And Contingencies [Line Items]
Designated Amount for loans (less than), through February 2022	$ 143,500
Designated Amount for loans (less than), through February 2025	100,000
Minimum fee, remaining in current year	900,000
Minimum fee, 2022	1,200,000
Minimum fee, 2023	1,200,000
Minimum fee, 2024	1,200,000
Minimum fee, 2025	100,000
Minimum liquidity covenant	15,000,000
Purchase commitment of borrower loans	19,700,000
Maximum potential future payments	2,600,000,000
Accrued repurchase and indemnification obligation	300,000	$ 200,000
Prosper Funding LLC
Commitments And Contingencies [Line Items]
Designated Amount for loans (less than), through February 2022	143,500
Designated Amount for loans (less than), through February 2025	100,000
Minimum fee, remaining in current year	900,000
Minimum fee, 2022	1,200,000
Minimum fee, 2023	1,200,000
Minimum fee, 2024	1,200,000
Minimum fee, 2025	100,000
Minimum liquidity covenant	15,000,000
Purchase commitment of borrower loans	19,700,000
Maximum potential future payments	2,600,000,000
Accrued repurchase and indemnification obligation	$ 300,000	$ 200,000

RELATED PARTIES - Additional In

RELATED PARTIES - Additional Information (Details)	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Minimum percentage of voting securities considered for related parties	10.00%
Minimum percentage of stockholders considered for related parties	10.00%

RELATED PARTIES - Aggregate Amo

RELATED PARTIES - Aggregate Amount of Notes Purchased and the Income Earned (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	$ 29	$ 116	$ 37	$ 243
Interest Earned on Notes and Borrower Loans	2	15	3	32
Notes Balance	61		61		$ 41
Prosper Funding LLC
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	9	6	17	12
Interest Earned on Notes and Borrower Loans	2	1	3	3
Notes Balance	43		43		41
Executive officers and management
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	9	6	17	12
Interest Earned on Notes and Borrower Loans	2	1	3	3
Notes Balance	43		43		41
Executive officers and management | Prosper Funding LLC
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	9	6	17	12
Interest Earned on Notes and Borrower Loans	2	1	3	3
Notes Balance	43		43		41
Directors (excluding executive officers and management)
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	20	110	20	231
Interest Earned on Notes and Borrower Loans	0	14	0	29
Notes Balance	18		18		0
Directors (excluding executive officers and management) | Prosper Funding LLC
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	0	0	0	0
Interest Earned on Notes and Borrower Loans	0	$ 0	0	$ 0
Notes Balance	$ 0		$ 0		$ 0

SIGNIFICANT CONCENTRATIONS (Det

SIGNIFICANT CONCENTRATIONS (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Concentration Risk [Line Items]
Percentage of funds originating in channel			88.00%	91.00%
Party One
Concentration Risk [Line Items]
Percentage of loan purchased	27.70%	12.80%	28.20%	10.60%
Warehouse VIE
Concentration Risk [Line Items]
Percentage of loan purchased	10.70%	38.80%	12.10%	20.10%
Party Two
Concentration Risk [Line Items]
Percentage of loan purchased		17.90%		17.10%
Party Three
Concentration Risk [Line Items]
Percentage of loan purchased		19.00%		13.50%