Prosper Marketplace 10-Q 13 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Nov. 10, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2023
Entity File Number	333-257739-01
Entity Registrant Name	PROSPER MARKETPLACE, INC.
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001416265
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
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	593-5426
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		76,722,111
Prosper Funding LLC
Entity Information [Line Items]
Entity File Number	333-257739
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	593-5426
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		Sep. 30, 2023	Dec. 31, 2022
Assets:
Cash and Cash Equivalents		$ 39,524	$ 83,446
Restricted Cash	[1]	97,846	113,163
Accounts Receivable		5,959	3,462
Loans Held for Sale, at Fair Value	[1]	191,566	499,765
Borrower Loans, at Fair Value		592,229	320,642
Property and Equipment, Net		41,130	38,814
Prepaid and Other Assets	[1]	20,746	9,208
Notes Issued by Securitization Trust	[1]	248,335	0
Credit Card Derivative		28,066	10,782
Servicing Assets		13,110	12,562
Goodwill		36,368	36,368
Intangible Assets, Net		112	192
Total Assets		1,066,656	1,128,404
Liabilities, Convertible Preferred Stock and Stockholders' Deficit:
Accounts Payable and Accrued Liabilities		37,532	37,254
Payable to Investors		62,698	85,312
Notes, at Fair Value		329,601	318,704
Warehouse Lines	[1]	188,881	446,762
Term Loan		74,799	73,407
Other Liabilities		33,123	28,258
Convertible Preferred Stock Warrant Liability		210,776	166,346
Total Liabilities		1,185,745	1,156,043
Commitments and Contingencies (Note 17)
Stockholders' Deficit:
Common Stock – $0.01 par value; 625,000,000 shares authorized; 77,634,473 shares issued and 76,698,538 shares outstanding, as of September 30, 2023; 75,223,850 shares issued and 74,287,915 shares outstanding, as of December 31, 2022		291	267
Additional Paid-In Capital		160,243	158,814
Less: Treasury Stock		(23,417)	(23,417)
Accumulated Deficit		(576,573)	(483,670)
Total Stockholders' Deficit		(439,456)	(348,006)
Total Liabilities, Convertible Preferred Stock and Stockholders' Deficit		1,066,656	1,128,404
Consolidated Entity, Excluding Consolidated VIE
Liabilities, Convertible Preferred Stock and Stockholders' Deficit:
Convertible Preferred Stock		(322,748)	(322,748)
VIE, Primary Beneficiary
Assets:
Restricted Cash		26,498	11,838
Loans Held for Sale, at Fair Value		191,566	499,765
Borrower Loans, at Fair Value		257,084	0
Prepaid and Other Assets		1,830	3,210
Notes Issued by Securitization Trust		248,335	0
Total Assets		476,978	514,813
Liabilities, Convertible Preferred Stock and Stockholders' Deficit:
Warehouse Lines		188,881	446,762
Other Liabilities		600	0
Total Liabilities		437,816	446,762
Convertible Preferred Stock		$ (2,381)	$ (2,381)
[1]Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.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. Refer to Note 7, Securitizations , and Note 11, Debt , to the notes to the condensed consolidated financial statements for additional information. September 30, 2023 December 31, 2022 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 26,498 $ 11,838 Loans Held for Sale, at Fair Value 191,566 499,765 Borrower Loans, at Fair Value 257,084 — Prepaid and Other Assets 1,830 3,210 Total assets of consolidated variable interest entities $ 476,978 $ 514,813 Liabilities of consolidated VIEs, included in total liabilities above: Notes Issued by Securitization Trust $ 248,335 $ — Warehouse Lines 188,881 446,762 Other liabilities 600 — Total liabilities of consolidated variable interest entities $ 437,816 $ 446,762

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	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
Liquidation Preference, Outstanding Shares	$ 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)	77,634,473	75,223,850
Common stock, outstanding (in shares)	76,698,538	74,287,915
VIE, 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 Balanc_3

Condensed Consolidated Balance Sheets (Unaudited) - Prosper Funding LLC - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Assets:
Cash and Cash Equivalents		$ 39,524	$ 83,446
Restricted Cash	[1]	97,846	113,163
Borrower Loans, at Fair Value		592,229	320,642
Servicing Assets		13,110	12,562
Total Assets		1,066,656	1,128,404
Liabilities and Member's Equity:
Accounts Payable and Accrued Liabilities		37,532	37,254
Payable to Investors		62,698	85,312
Notes, at Fair Value		329,601	318,704
Other Liabilities		33,123	28,258
Total Liabilities		1,185,745	1,156,043
Stockholders' Deficit:
Retained Earnings		(576,573)	(483,670)
Total Stockholders' Deficit		(439,456)	(348,006)
Total Liabilities, Convertible Preferred Stock and Stockholders' Deficit		1,066,656	1,128,404
Prosper Funding LLC
Assets:
Cash and Cash Equivalents		2,943	6,285
Restricted Cash		68,331	91,564
Borrower Loans, at Fair Value		335,143	320,642
Property and Equipment, Net		10,942	10,004
Servicing Assets		15,340	14,860
Other Assets		55	84
Total Assets		432,754	443,439
Liabilities and Member's Equity:
Accounts Payable and Accrued Liabilities		4,004	4,576
Payable to Investors		64,535	86,927
Notes, at Fair Value		329,601	318,704
Other Liabilities		3,587	3,608
Total Liabilities		402,135	416,668
Stockholders' Deficit:
Member's Equity		8,364	6,354
Retained Earnings		22,255	20,417
Total Stockholders' Deficit		30,619	26,771
Total Liabilities, Convertible Preferred Stock and Stockholders' Deficit		432,754	443,439
Prosper Funding LLC | Related Party
Liabilities and Member's Equity:
Payable to Related Party		$ 408	$ 2,853
[1]Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.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. Refer to Note 7, Securitizations , and Note 11, Debt , to the notes to the condensed consolidated financial statements for additional information. September 30, 2023 December 31, 2022 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 26,498 $ 11,838 Loans Held for Sale, at Fair Value 191,566 499,765 Borrower Loans, at Fair Value 257,084 — Prepaid and Other Assets 1,830 3,210 Total assets of consolidated variable interest entities $ 476,978 $ 514,813 Liabilities of consolidated VIEs, included in total liabilities above: Notes Issued by Securitization Trust $ 248,335 $ — Warehouse Lines 188,881 446,762 Other liabilities 600 — Total liabilities of consolidated variable interest entities $ 437,816 $ 446,762

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Operating Revenues:
(Loss) Gain on Sale of Borrower Loans	$ (2,956)	$ (1,145)	$ (6,322)	$ 3,886
Total Operating Revenues	31,565	55,328	105,206	140,716
Interest Income (Expense):
Interest Income on Borrower Loans and Loans Held for Sale	29,388	22,351	88,773	61,013
Interest Expense on Financial Instruments	(25,208)	(15,609)	(69,771)	(41,479)
Total Interest Income, Net	4,180	6,742	19,002	19,534
Change in Fair Value of Financial Instruments	(2,545)	(1,660)	(19,105)	(5,986)
Total Net Revenue	33,200	60,410	105,103	154,264
Expenses:
Origination and Servicing	10,877	16,238	35,494	41,277
Sales and Marketing	12,480	26,158	41,608	62,243
General and Administrative	21,876	21,055	69,158	61,035
Change in Fair Value of Convertible Preferred Stock Warrants	16,706	(11,374)	44,430	(88,860)
Interest Expense on Term Loan	3,202	0	9,023	0
Gain on Forgiveness of PPP Loan (Note 11)	0	0	0	(8,604)
Other Income, Net	(834)	(308)	(1,783)	(805)
Total Expenses	64,307	51,769	197,930	66,286
Net (Loss) Income Before Taxes	(31,107)	8,641	(92,827)	87,978
Income Tax Benefit (Expense)	64	(20)	(76)	(60)
Net (Loss) Income	(31,043)	8,621	(92,903)	87,918
Less: Net Income Allocated to Participating Securities	0	(5,772)	0	(59,054)
Net (Loss) Income Attributable to Common Stockholders	$ (31,043)	$ 2,849	$ (92,903)	$ 28,864
Net (Loss) Income Per Share – Basic (in dollars per share)	$ (0.41)	$ 0.04	$ (1.22)	$ 0.40
Net (Loss) Income Per Share - Diluted (in dollars per share)	$ (0.41)	$ 0.01	$ (1.22)	$ 0.08
Weighted-Average Shares - Basic (in shares)	76,617,924	73,731,925	75,866,061	73,010,111
Weighted-Average Shares – Diluted (in shares)	76,617,924	341,959,266	75,866,061	348,703,804
Transaction Fees, Net
Operating Revenues:
Revenues	$ 28,946	$ 50,778	$ 93,960	$ 120,249
Servicing Fees, Net
Operating Revenues:
Revenues	3,942	4,153	13,012	11,514
Other Revenues
Operating Revenues:
Revenues	$ 1,633	$ 1,542	$ 4,556	$ 5,067

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) - Prosper Funding LLC - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Operating Revenues:
(Loss) Gain on Sale of Borrower Loans	$ (2,956)	$ (1,145)	$ (6,322)	$ 3,886
Total Operating Revenues	31,565	55,328	105,206	140,716
Interest Income (Expense):
Interest Income on Borrower Loans	29,388	22,351	88,773	61,013
Interest Expense on Notes	(25,208)	(15,609)	(69,771)	(41,479)
Total Interest Income, Net	4,180	6,742	19,002	19,534
Change In Fair Value Of Financial Instruments	(2,545)	(1,660)	(19,105)	(5,986)
Expenses:
General and Administrative	21,876	21,055	69,158	61,035
Total Expenses	64,307	51,769	197,930	66,286
Net (Loss) Income	(31,043)	8,621	(92,903)	87,918
Prosper Funding LLC
Operating Revenues:
(Loss) Gain on Sale of Borrower Loans	(2,891)	(346)	(5,227)	5,611
Total Operating Revenues	15,194	23,715	47,140	63,606
Interest Income (Expense):
Interest Income on Borrower Loans	13,790	11,592	39,091	33,228
Interest Expense on Notes	(12,512)	(10,758)	(36,071)	(30,945)
Total Interest Income, Net	1,278	834	3,020	2,283
Change In Fair Value Of Financial Instruments	620	(149)	456	118
Total Net Revenues	17,092	24,400	50,616	66,007
Expenses:
Administration Fee - Related Party	13,493	21,966	43,336	55,773
Servicing and Other, Net	1,711	2,399	5,442	6,217
Total Expenses	15,204	24,365	48,778	61,990
Net (Loss) Income	1,888	35	1,838	4,017
Administration Fee Revenue - Related Party | Prosper Funding LLC
Operating Revenues:
Revenues	10,552	18,234	31,104	42,385
Servicing Fees, Net
Operating Revenues:
Revenues	3,942	4,153	13,012	11,514
Servicing Fees, Net | Prosper Funding LLC
Operating Revenues:
Revenues	7,408	5,695	20,985	14,808
Other Revenues
Operating Revenues:
Revenues	1,633	1,542	4,556	5,067
Other Revenues | Prosper Funding LLC
Operating Revenues:
Revenues	$ 125	$ 132	$ 278	$ 802

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders’ Deficit (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
Beginning balance (in shares) at Dec. 31, 2021		209,613,570	51,247,915
Beginning balance at Dec. 31, 2021		$ 322,748	$ (2,381)
Ending balance (in shares) at Mar. 31, 2022		209,613,570	51,247,915
Ending balance at Mar. 31, 2022		$ 322,748	$ (2,381)
Beginning balance (in shares) at Dec. 31, 2021				77,331,229
Beginning balance at Dec. 31, 2021	$ (420,168)			$ 245	$ (23,417)	$ 157,256	$ (554,252)
Beginning balance (in shares) at Dec. 31, 2021					(5,177,235)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				339,867
Exercise of vested stock options	8			$ 4		4
Stock-based compensation expense	341					341
Net (Loss) Income	36,632						36,632
Ending balance (in shares) at Mar. 31, 2022				77,671,096
Ending balance at Mar. 31, 2022	(383,187)			$ 249	$ (23,417)	157,601	(517,620)
Ending balance (in shares) at Mar. 31, 2022					(5,177,235)
Beginning balance (in shares) at Dec. 31, 2021		209,613,570	51,247,915
Beginning balance at Dec. 31, 2021		$ 322,748	$ (2,381)
Ending balance (in shares) at Sep. 30, 2022		209,613,570	51,247,915
Ending balance at Sep. 30, 2022		$ 322,748	$ (2,381)
Beginning balance (in shares) at Dec. 31, 2021				77,331,229
Beginning balance at Dec. 31, 2021	(420,168)			$ 245	$ (23,417)	157,256	(554,252)
Beginning balance (in shares) at Dec. 31, 2021					(5,177,235)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				1,860,480
Exercise of vested stock options	46			$ 19		27
Stock-based compensation expense	1,451					1,451
Net (Loss) Income	87,918						87,918
Ending balance (in shares) at Sep. 30, 2022				79,191,709
Ending balance at Sep. 30, 2022	(330,753)			$ 264	$ (23,417)	158,734	(466,334)
Ending balance (in shares) at Sep. 30, 2022					(5,177,235)
Beginning balance (in shares) at Mar. 31, 2022		209,613,570	51,247,915
Beginning balance at Mar. 31, 2022		$ 322,748	$ (2,381)
Ending balance (in shares) at Jun. 30, 2022		209,613,570	51,247,915
Ending balance at Jun. 30, 2022		$ 322,748	$ (2,381)
Beginning balance (in shares) at Mar. 31, 2022				77,671,096
Beginning balance at Mar. 31, 2022	(383,187)			$ 249	$ (23,417)	157,601	(517,620)
Beginning balance (in shares) at Mar. 31, 2022					(5,177,235)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				1,105,680
Exercise of vested stock options	27			$ 11		16
Stock-based compensation expense	554					554
Net (Loss) Income	42,665						42,665
Ending balance (in shares) at Jun. 30, 2022				78,776,776
Ending balance at Jun. 30, 2022	(339,941)			$ 260	$ (23,417)	158,171	(474,955)
Ending balance (in shares) at Jun. 30, 2022					(5,177,235)
Ending balance (in shares) at Sep. 30, 2022		209,613,570	51,247,915
Ending balance at Sep. 30, 2022		$ 322,748	$ (2,381)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				414,933
Exercise of vested stock options	11			$ 4		7
Stock-based compensation expense	556					556
Net (Loss) Income	8,621						8,621
Ending balance (in shares) at Sep. 30, 2022				79,191,709
Ending balance at Sep. 30, 2022	$ (330,753)			$ 264	$ (23,417)	158,734	(466,334)
Ending balance (in shares) at Sep. 30, 2022					(5,177,235)
Beginning balance (in shares) at Dec. 31, 2022	209,613,570	209,613,570	51,247,915
Beginning balance at Dec. 31, 2022		$ 322,748	$ (2,381)
Ending balance (in shares) at Mar. 31, 2023		209,613,570	51,247,915
Ending balance at Mar. 31, 2023		$ 322,748	$ (2,381)
Beginning balance (in shares) at Dec. 31, 2022	74,287,915			79,465,150
Beginning balance at Dec. 31, 2022	$ (348,006)			$ 267	$ (23,417)	158,814	(483,670)
Beginning balance (in shares) at Dec. 31, 2022					(5,177,235)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				1,147,009
Exercise of vested stock options	27			$ 11		16
Stock-based compensation expense	415					415
Net (Loss) Income	(9,090)						(9,090)
Ending balance (in shares) at Mar. 31, 2023				80,612,159
Ending balance at Mar. 31, 2023	$ (356,654)			$ 278	$ (23,417)	159,245	(492,760)
Ending balance (in shares) at Mar. 31, 2023					(5,177,235)
Beginning balance (in shares) at Dec. 31, 2022	209,613,570	209,613,570	51,247,915
Beginning balance at Dec. 31, 2022		$ 322,748	$ (2,381)
Ending balance (in shares) at Sep. 30, 2023	209,613,570	209,613,570	51,247,915
Ending balance at Sep. 30, 2023		$ 322,748	$ (2,381)
Beginning balance (in shares) at Dec. 31, 2022	74,287,915			79,465,150
Beginning balance at Dec. 31, 2022	$ (348,006)			$ 267	$ (23,417)	158,814	(483,670)
Beginning balance (in shares) at Dec. 31, 2022					(5,177,235)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				2,410,623
Exercise of vested stock options	105			$ 24		81
Stock-based compensation expense	1,348					1,348
Net (Loss) Income	$ (92,903)						(92,903)
Ending balance (in shares) at Sep. 30, 2023	76,698,538			81,875,773
Ending balance at Sep. 30, 2023	$ (439,456)			$ 291	$ (23,417)	160,243	(576,573)
Ending balance (in shares) at Sep. 30, 2023					(5,177,235)
Beginning balance (in shares) at Mar. 31, 2023		209,613,570	51,247,915
Beginning balance at Mar. 31, 2023		$ 322,748	$ (2,381)
Ending balance (in shares) at Jun. 30, 2023		209,613,570	51,247,915
Ending balance at Jun. 30, 2023		$ 322,748	$ (2,381)
Beginning balance (in shares) at Mar. 31, 2023				80,612,159
Beginning balance at Mar. 31, 2023	(356,654)			$ 278	$ (23,417)	159,245	(492,760)
Beginning balance (in shares) at Mar. 31, 2023					(5,177,235)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				1,166,002
Exercise of vested stock options	45			$ 12		33
Stock-based compensation expense	451					451
Net (Loss) Income	(52,770)						(52,770)
Ending balance (in shares) at Jun. 30, 2023				81,778,161
Ending balance at Jun. 30, 2023	$ (408,928)			$ 290	$ (23,417)	159,729	(545,530)
Ending balance (in shares) at Jun. 30, 2023					(5,177,235)
Ending balance (in shares) at Sep. 30, 2023	209,613,570	209,613,570	51,247,915
Ending balance at Sep. 30, 2023		$ 322,748	$ (2,381)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				97,612
Exercise of vested stock options	$ 33			$ 1		32
Stock-based compensation expense	482					482
Net (Loss) Income	$ (31,043)						(31,043)
Ending balance (in shares) at Sep. 30, 2023	76,698,538			81,875,773
Ending balance at Sep. 30, 2023	$ (439,456)			$ 291	$ (23,417)	$ 160,243	$ (576,573)
Ending balance (in shares) at Sep. 30, 2023					(5,177,235)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Members' Equity (Unaudited) - Prosper Funding LLC - USD ($) $ in Thousands	Total	Retained Earnings	Prosper Funding LLC	Prosper Funding LLC Retained Earnings	Prosper Funding LLC Member’s Equity
Beginning balance at Dec. 31, 2021	$ (420,168)	$ (554,252)	$ 28,298	$ 16,894	$ 11,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	36,632	36,632	1,445
Ending balance at Mar. 31, 2022	(383,187)	(517,620)	29,743	18,339	11,404
Beginning balance at Dec. 31, 2021	(420,168)	(554,252)	28,298	16,894	11,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distribution to Parent			(5,700)		(5,700)
Contribution of Borrower Loans from Parent (Note 4)			0
Net (Loss) Income	87,918	87,918	4,017	4,017
Ending balance at Sep. 30, 2022	(330,753)	(466,334)	26,615	20,911	5,704
Beginning balance at Mar. 31, 2022	(383,187)	(517,620)	29,743	18,339	11,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	42,665	42,665	2,537
Ending balance at Jun. 30, 2022	(339,941)	(474,955)	32,280	20,876	11,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Distribution to Parent			(5,700)		(5,700)
Net (Loss) Income	8,621	8,621	35
Ending balance at Sep. 30, 2022	(330,753)	(466,334)	26,615	20,911	5,704
Beginning balance at Dec. 31, 2022	(348,006)	(483,670)	26,771	20,417	6,354
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	(9,090)	(9,090)	257
Ending balance at Mar. 31, 2023	(356,654)	(492,760)	27,028	20,674	6,354
Beginning balance at Dec. 31, 2022	(348,006)	(483,670)	26,771	20,417	6,354
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution of Borrower Loans from Parent (Note 4)			2,010		2,010
Net (Loss) Income	(92,903)	(92,903)	1,838	1,838
Ending balance at Sep. 30, 2023	(439,456)	(576,573)	30,619	22,255	8,364
Beginning balance at Mar. 31, 2023	(356,654)	(492,760)	27,028	20,674	6,354
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (Loss) Income	(52,770)	(52,770)	(307)	(307)
Ending balance at Jun. 30, 2023	(408,928)	(545,530)	26,721	20,367	6,354
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution of Borrower Loans from Parent (Note 4)	2,010				2,010
Net (Loss) Income	(31,043)	(31,043)	1,888	1,888
Ending balance at Sep. 30, 2023	$ (439,456)	$ (576,573)	$ 30,619	$ 22,255	$ 8,364

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023		Sep. 30, 2022
Cash flows from Operating Activities:
Net (Loss) Income	$ (92,903)		$ 87,918
Adjustments to Reconcile Net Loss to Net Cash (Used in) Provided by Operating Activities:
Change in Fair Value of Financial Instruments	19,105		5,986
Depreciation and Amortization	8,223		8,218
Amortization of Operating Lease Right-of-use Asset	1,877		2,652
Gain on Termination of Operating Lease Right-of-use Asset	0		(88)
Gain on Sale of Borrower Loans	(7,157)		(9,888)
Change in Fair Value of Servicing Rights	10,473		6,510
Stock-Based Compensation Expense	1,185		1,295
Change in Fair Value of Convertible Preferred Stock Warrants	44,430		(88,860)
Gain on Forgiveness of PPP Loan	0		(8,604)
Accrual of Payment-in-kind Interest on Term Loan	1,203		0
Other, Net	(319)		37
Changes in Operating Assets and Liabilities:
Purchase of Loans Held for Sale at Fair Value	(1,527,549)		(2,271,312)
Proceeds from Sales and Principal Payments of Loans Held for Sale at Fair Value	1,540,456		2,100,314
Accounts Receivable	(2,497)		(1,211)
Prepaid and Other Assets	(10,117)		(2,469)
Credit Card Derivative	(270)		1,364
Accounts Payable and Accrued Liabilities	1,097		15,082
Payable to Investors	(22,614)		(15,774)
Other Liabilities	917		1,604
Net Cash Used in Operating Activities	(34,460)		(167,226)
Cash Flows from Investing Activities:
Purchase of Borrower Loans Held at Fair Value	(182,119)		(214,271)
Proceeds from Sales and Principal Payments of Borrower Loans Held at Fair Value	142,714		158,032
Purchases of Property and Equipment	(12,121)		(10,055)
Net Cash Used in Investing Activities	(51,526)		(66,294)
Cash Flows from Financing Activities:
Proceeds from Issuance of Notes Held at Fair Value	180,012		214,107
Payments of Notes Held at Fair Value	(141,625)		(158,105)
Proceeds from Issuance of Securitized Notes (Note 7)	250,657		0
Proceeds from Warehouse Lines	48,478		144,700
Principal Payments on Warehouse Lines	(82,374)		0
Extinguishment of PWIIT Warehouse Line (Note 11)	(223,969)		0
Payments of Debt Issuance Costs	(4,537)		0
Proceeds from Exercise of Stock Options	105		46
Net Cash Provided by Financing Activities	26,747		200,748
Net Decrease in Cash, Cash Equivalents and Restricted Cash	(59,239)		(32,772)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	196,609		235,625
Cash, Cash Equivalents and Restricted Cash at End of the Period	137,370		202,853
Supplemental Disclosure of Cash Flow Information:
Cash Paid for Interest	74,536		39,828
Cash Paid for Operating Leases Included in the Measurement of Lease Liabilities	2,769		4,350
Non-Cash Investing Activity- Accrual for Property and Equipment, Net	1,210		1,115
Non-Cash Financing Activity - Forgiveness of PPP Loan	0		8,604
Reconciliation to Amounts on Consolidated Balance Sheets:
Cash and Cash Equivalents	39,524		43,530
Restricted Cash	97,846	[1]	159,323
Total Cash, Cash Equivalents and Restricted Cash	$ 137,370		$ 202,853
[1]Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.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. Refer to Note 7, Securitizations , and Note 11, Debt , to the notes to the condensed consolidated financial statements for additional information. September 30, 2023 December 31, 2022 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 26,498 $ 11,838 Loans Held for Sale, at Fair Value 191,566 499,765 Borrower Loans, at Fair Value 257,084 — Prepaid and Other Assets 1,830 3,210 Total assets of consolidated variable interest entities $ 476,978 $ 514,813 Liabilities of consolidated VIEs, included in total liabilities above: Notes Issued by Securitization Trust $ 248,335 $ — Warehouse Lines 188,881 446,762 Other liabilities 600 — Total liabilities of consolidated variable interest entities $ 437,816 $ 446,762

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) - Prosper Funding LLC - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023		Sep. 30, 2022
Cash flows from Operating Activities:
Net Income	$ (92,903)		$ 87,918
Adjustments to Reconcile Net (Loss) Income to Net Cash Used in Operating Activities:
Change in Fair Value of Financial Instruments	19,105		5,986
Gain on Sale of Borrower Loans	(7,157)		(9,888)
Change in Fair Value of Servicing Rights	10,473		6,510
Depreciation and Amortization	8,223		8,218
Changes in Operating Assets and Liabilities:
Purchase of Loans Held for Sale at Fair Value	(1,527,549)		(2,271,312)
Proceeds from Sales and Principal Payments of Loans Held for Sale at Fair Value	1,540,456		2,100,314
Accounts Payable and Accrued Liabilities	1,097		15,082
Payable to Investors	(22,614)		(15,774)
Other Liabilities	917		1,604
Net Cash Used in Operating Activities	(34,460)		(167,226)
Cash Flows from Investing Activities:
Purchase of Borrower Loans Held at Fair Value	(182,119)		(214,271)
Proceeds from Sales and Principal Payments of Borrower Loans , at Fair Value	142,714		158,032
Purchases of Property and Equipment	(12,121)		(10,055)
Net Cash Used in Investing Activities	(51,526)		(66,294)
Cash Flows from Financing Activities:
Proceeds from Issuance of Notes Held at Fair Value	180,012		214,107
Payments of Notes , at Fair Value	141,625		158,105
Net Cash Provided by Financing Activities	26,747		200,748
Net Decrease (Increase) in Cash, Cash Equivalents and Restricted Cash	(59,239)		(32,772)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	196,609		235,625
Cash, Cash Equivalents and Restricted Cash at End of the Period	137,370		202,853
Supplemental Disclosure of Cash Flow Information:
Cash Paid for Interest	74,536		39,828
Non-Cash Investing Activity- Accrual for Property and Equipment, Net	1,210		1,115
Reconciliation to Amounts on Consolidated Balance Sheets:
Cash and Cash Equivalents	39,524		43,530
Restricted Cash	97,846	[1]	159,323
Total Cash, Cash Equivalents and Restricted Cash	137,370		202,853
Prosper Funding LLC
Cash flows from Operating Activities:
Net Income	1,838		4,017
Adjustments to Reconcile Net (Loss) Income to Net Cash Used in Operating Activities:
Change in Fair Value of Financial Instruments	(456)		(118)
Other Non-Cash Changes in Borrower Loans, Loans Held for Sale and Notes	(171)		104
Gain on Sale of Borrower Loans	(8,070)		(11,384)
Change in Fair Value of Servicing Rights	7,590		7,106
Depreciation and Amortization	4,585		4,168
Changes in Operating Assets and Liabilities:
Purchase of Loans Held for Sale at Fair Value	(1,527,549)		(2,271,312)
Proceeds from Sales and Principal Payments of Loans Held for Sale at Fair Value	1,527,549		2,271,312
Other Assets	29		74
Accounts Payable and Accrued Liabilities	(572)		3,111
Payable to Investors	(22,392)		(15,355)
Net Related Party Receivable/Payable	(3,308)		2,761
Other Liabilities	(21)		937
Net Cash Used in Operating Activities	(20,948)		(4,579)
Cash Flows from Investing Activities:
Purchase of Borrower Loans Held at Fair Value	(182,119)		(214,271)
Proceeds from Sales and Principal Payments of Borrower Loans , at Fair Value	142,765		158,032
Purchases of Property and Equipment	(4,660)		(4,662)
Net Cash Used in Investing Activities	(44,014)		(60,901)
Cash Flows from Financing Activities:
Proceeds from Issuance of Notes Held at Fair Value	180,012		214,107
Payments of Notes , at Fair Value	141,625		158,105
Cash Distributions to Parent	0		(5,700)
Net Cash Provided by Financing Activities	38,387		50,302
Net Decrease (Increase) in Cash, Cash Equivalents and Restricted Cash	(26,575)		(15,178)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	97,849		167,876
Cash, Cash Equivalents and Restricted Cash at End of the Period	71,274		152,698
Supplemental Disclosure of Cash Flow Information:
Cash Paid for Interest	35,453		30,632
Non-Cash Investing Activity- Accrual for Property and Equipment, Net	1,176		906
Non-Cash Financing Activity - Contribution of Borrower Loans by Parent (Note 4)	2,010		0
Reconciliation to Amounts on Consolidated Balance Sheets:
Cash and Cash Equivalents	2,943		5,691
Restricted Cash	68,331		147,007
Total Cash, Cash Equivalents and Restricted Cash	$ 71,274		$ 152,698
[1]Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.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. Refer to Note 7, Securitizations , and Note 11, Debt , to the notes to the condensed consolidated financial statements for additional information. September 30, 2023 December 31, 2022 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 26,498 $ 11,838 Loans Held for Sale, at Fair Value 191,566 499,765 Borrower Loans, at Fair Value 257,084 — Prepaid and Other Assets 1,830 3,210 Total assets of consolidated variable interest entities $ 476,978 $ 514,813 Liabilities of consolidated VIEs, included in total liabilities above: Notes Issued by Securitization Trust $ 248,335 $ — Warehouse Lines 188,881 446,762 Other liabilities 600 — Total liabilities of consolidated variable interest entities $ 437,816 $ 446,762

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2023
Entity Information [Line Items]
BASIS OF PRESENTATION	Basis of Presentation Prosper Marketplace, Inc. (“PMI” or the “Company”) 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, 2022. The balance sheet at December 31, 2022 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. PMI 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 nine months ended September 30, 2023 and 2022. 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. Notes Issued by Securitization Trust are notes held by certain third-party investors pursuant to Prosper’s securitization transaction, and are distinguishable from the borrower payment dependent Notes available to investors through the Company’s 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, 2022. The balance sheet at December 31, 2022 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 nine months ended September 30, 2023 and 2022. 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 ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
Entity Information [Line Items]
SUMMARY OF SIGNIFICANT ACCOUNTING 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, 2022. There have been no changes to these accounting policies during the first nine months of 2023. Fair Value Measurements Financial instruments measured at fair value consist principally of Borrower Loans (Note 7), Loans Held for Sale (Note 4), Servicing Assets (Note 6), Credit Card Derivative (Note 5), Loan Trailing Fee Liabilities (Note 10), Debt (Note 11) and Convertible Preferred Stock Warrant Liability (Note 13). 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 Term Loan and Warehouse Lines (Note 11) do not approximate their carrying values due primarily to differences in the stated and market rates associated with these instruments. Refer to Note 8, 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 loan funding and servicing activities, and cash that investors or Prosper have on the marketplace that has not yet been invested in Borrower Loans or disbursed to the investor. Borrower Loans, Loans Held for Sale and Notes 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. 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 11, Debt for more details on Warehouse Lines. In September 2023, Prosper closed a securitization transaction (the “PMIT 2023-1 Transaction”) with personal loans previously funded through its PWIIT Warehouse Line. The newly formed securitization entity, PMIT 2023-1, issued notes acquired by third parties and residual certificates acquired by PMI (a majority owned affiliate of PFL, the sole sponsor of the securitization). PMIT 2023-1 is deemed a consolidated VIE, and as a result the Borrower Loans it holds are presented in “Borrower Loans, at Fair Value,” and the notes sold to third-party investors are included in “Notes Issued by Securitization Trust” on the accompanying condensed consolidated balance sheet. See Note 7, Securitizations , for additional disclosures. 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 and Notes. 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 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 and Notes are included in Change in Fair Value of Financial Instruments on the accompanying condensed consolidated statements of operations. Prosper 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. Credit Card Derivative The Company evaluated the terms of the Credit Card program agreement (the “Credit Card Program Agreement”) with Coastal Community Bank (“Coastal”) and determined that it contained features that met the definition of derivatives under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging . These features are freestanding financial instruments (as defined under ASC 480, Distinguishing Liabilities from Equity ), and have been valued separately as derivatives. A right of offset exists between the derivatives, and they are presented net on the accompanying consolidated balance sheets. Changes in the fair value of the Credit Card Derivative, as well as settled transactions from the Credit Card portfolio, are recorded in Change in Fair Value of Financial Instruments on the accompanying Condensed Consolidated Statements of Operations. In August 2023, the Company executed an amendment to the Credit Card Program Agreement that, among other things, (a) increased the maximum outstanding Credit Card principal balance for Prosper Allocations from $200 million to $300 million, (b) funded a cash reserve account in the name of Coastal in connection with charge-off losses on receivables allocated to the Prosper, and (c) clarified various items from the original program agreement. As a result of (b), the Company reclassified approximately $9.3 million in Restricted Cash held in the reserve account to Prepaid and Other Assets on the accompanying condensed consolidated balance sheet. Refer to Note 5, Credit Card, for additional details on revenues and expenses related to the Credit Card product. Term Loan Prosper entered into a Credit Agreement, which provided for a Term Loan with a third-party financial institution in November 2022, which is more fully described in Note 11. This Term Loan is carried at amortized cost, net of discounts and issuance costs, which are subsequently amortized to Interest Expense on Term Loan over the life of the underlying agreement. Interest Expense on Term Loan is presented as a component of Expenses on the accompanying condensed consolidated statements of operations, except for any portion associated with Term Loan proceeds used to purchase Loans Held for Sale through the Company’s Warehouse Lines, which is presented in Interest Expense on Financial Instruments as a component of Net Interest Income on the accompanying condensed consolidated statement of operations. 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 Condensed 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 or deconsolidate such VIE in the consolidated financial statements. Recent Accounting Pronouncements 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. The optional guidance, which became effective on March 12, 2020, could be applied through December 31, 2022. In December 2022, the FASB issued No 2022-06 extending the sunset date of the relief provided under ASU No. 2020-04 to December 31, 2024. The Company amended its agreements and transitioned to SOFR for contracts that previously referenced LIBOR. The Company continues to evaluate potential future impacts that may result from the discontinuation of LIBOR or other reference rates as well as the accounting provided in this update on our financial condition, results of operations, and cash flows .
Prosper Funding LLC
Entity Information [Line Items]
SUMMARY OF SIGNIFICANT ACCOUNTING 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, 2022. There have been no changes to these accounting policies during the first nine months of 2023. 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	9 Months Ended
	Sep. 30, 2023
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): September 30, 2023 December 31, 2022 Internal-use software and website development costs $ 56,250 $ 49,818 Operating lease right-of-use assets 23,548 27,051 Computer equipment 10,384 13,444 Leasehold improvements 6,827 7,157 Office equipment and furniture 2,935 2,810 Assets not yet placed in service 9,334 5,877 Property and equipment 109,278 106,157 Less: Accumulated depreciation and amortization (68,148) (67,343) Total Property and Equipment, Net $ 41,130 $ 38,814 Depreciation and amortization expense for Property and Equipment, Net for the three months ended September 30, 2023 and September 30, 2022 wa s $2.6 million an d $2.9 million, respectively. Depreciation and amortization expense for Property and Equipment, Net for the nine months ended September 30, 2023 and September 30, 2022 wa s $8.1 million an d $8.2 million, respectively. These charges are included in Origination and Servicing and General and Administrative expenses on the condensed consolidated statements of operations. PMI capitalized internal-use software and website development costs in the amount of $4.5 million and $2.8 million for the three months ended September 30, 2023 and September 30, 2022, respectively. PMI capitalized internal-use software and website development costs in the amount of $11.2 million and $8.1 million for the nine months ended September 30, 2023 and September 30, 2022, respectively. Additionally, disclosures around the operating lease right-of-use assets are included in Note 16.
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): September 30, 2023 December 31, 2022 Internal-use software and web site development costs $ 42,279 $ 37,428 Less: accumulated depreciation and amortization (31,337) (27,424) Total property and equipment, net $ 10,942 $ 10,004

BORROWER LOANS, LOANS HELD FOR

BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023 and December 31, 2022, are presented in the following table (in thousands): Borrower Loans Loans Held for Sale Notes September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Aggregate principal balance and interest outstanding $ 623,466 $ 333,294 $ 201,456 $ 512,076 $ 351,465 $ 336,555 Fair value adjustments (31,237) (12,652) (9,890) (12,311) (21,864) (17,851) Fair value $ 592,229 $ 320,642 $ 191,566 $ 499,765 $ 329,601 $ 318,704 Borrower Loans As of September 30, 2023, outstanding Borrower Loans had original terms to maturity of 24, 36, 48 or 60 months, had monthly payments with fixed interest rates ranging fr om 5.46% to 33.00%, and had various original maturity dates through September 2028. As of December 31, 2022, outstanding Borrower Loans had original terms to maturity of 24, 36, 48 or 60 months, had monthly payments with fixed interest rates ranging from 5.31% to 33.00%, and had various original maturity dates through December 2027. As of September 30, 2023, Borrower Loans that were 90 days or more delinquent ha d an aggregate principal amount o f $3.8 million and a fair value of $0.5 million. As of December 31, 2022, Borrower Loans that were 90 days or more delinquent had an aggregate principal amount of $2.7 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 September 30, 2023 and December 31, 2022, Borrower Loans in non-accrual status had a fair val ue of $0.5 million a nd $0.3 million, respectively. Loans Held for Sale As of September 30, 2023, outstanding Loans Held for Sale had original terms to maturity of 24, 36, 48 or 60 months, had mont hly payments with fixed interest rates ranging from 6.00% to 33.00% and had various original maturity dates through July 2028. As of December 31, 2022, outstanding Loans Held for Sale had original terms to maturity of either 24, 36, 48 or 60 months, had monthly payments with fixed interest rates ranging from 5.31% to 33.00% and had various original maturity dates through December 2027. Interest income earned on Loans Held for Sale by the Company was $14.8 million and $10.7 million for the three months ended September 30, 2023 and September 30, 2022, respectively, and 48.4 million and $27.7 million for the nine months e nded September 30, 2023 and September 30, 2022, respectively. As of September 30, 2023, Loans Held for Sale that were 90 days or more delinquent had an aggregate principal amount of $1.7 million an d a fair value of $0.2 million . As of December 31, 2022, Loans Held for S ale that were 90 days or more delinquent had an aggregate principal amount of $2.1 million and a fair value of $0.2 million . Prosper places loans on non-accrual status when they are over 120 days past due. As of September 30, 2023 and December 31, 2022, Loans Held for Sale in non-accrual status had a fair value of $0.2 million
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 September 30, 2023 and December 31, 2022, are presented in the following table (in thousands): Borrower Loans Notes September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Aggregate principal balance outstanding and interest outstanding $ 356,328 $ 333,294 $ 351,465 $ 336,555 Fair value adjustments (21,185) (12,652) (21,864) (17,851) Fair value $ 335,143 $ 320,642 $ 329,601 $ 318,704 As of September 30, 2023, outstanding Borrower Loans had original terms to maturity of 24, 36, 48 or 60 months, had monthly payments with fixed interest rates ranging from 5.46% to 33.00% and had various original maturity dates through September 2028. As of December 31, 2022, outstanding Borrower Loans had original maturities of either 24, 36, 48 or 60 months, monthly payments with fixed interest rates ranging from 5.31% to 33.00% , and had various original maturity da tes through December 2027. As of September 30, 2023, Borrower Loans that were 90 days or more delinquent had an aggregate principal amount of $3.8 million and a fair value of $0.5 million. As of December 31, 2022, Borrower Loans that were 90 days or more delinquent had an aggregate principal amount of $2.7 million and a fair value of $0.3 million. PFL places loans on non-accrual status when they are over 120 days past due. As of September 30, 2023 and December 31, 2022, Borrower Loans in non-accrual status had a fair value of $0.5 million and $0.3 million , respectively. On September 25, 2023, Prosper completed the PMIT 2023-1 Transaction, a securitization of Borrower Loans originated through Prosper’s marketplace platform. PFL served as the sole sponsor for this securitization. Loans eligible for securitization that were funded through the PWIIT Warehouse Line were contributed to the PMIT 2023-1 Transaction. Loans that were not eligible for securitization, with an aggregate outstanding principal balance of $7.7 million and a fair value of $2.0 million, were contributed to PFL, and are included in “Borrower Loans, at Fair Value” on the accompanying condensed consolidated balance sheet. The fair value of these Borrower Loans was recorded as a deemed Contribution of Borrower Loans from Parent on the condensed consolidated Statements of Member’s Equity and as a non-cash financing activity on the condensed consolidated Statement of Cash Flows.

CREDIT CARD

CREDIT CARD	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
CREDIT CARD	Credit Card For the three months ended September 30, 2023 and 2022, the Company recogniz ed $8.5 million and $3.0 million, respectively, of unrealized gains from fair value changes on the Credit Card Derivative. For the nine months ended September 30, 2023 and 2022, the Company recognize d $17.3 million and $6.8 million, respectively, of unrealized gains from fair value changes on the Credit Card Derivative. Changes from settled transactions underlying the Credit Card Derivative, including income from debt sales on charged off balances, were gains of $0.7 million and $1.8 million for the three months ended September 30, 2023 and 2022, respectively, and a loss of $0.3 million and a gain of $2.4 million, for the nine months ended September 30, 2023 and 2022, respectively. These unrealized and settled gains and losses are included in Changes in Fair Value of Financial Instruments on the accompanying condensed consolidated statements of operations. The Company records revenue from various fees generated from the Credit Card program, including interchange fees, annual fees and late fees, net of a portion of the interchange fees that must be remitted to Coastal. These fees are included in Transaction Fees, Net on the accompanying condensed consolidated statements of operations. For the three months ended September 30, 2023 and 2022, these fees totaled $5.2 million an d $2.2 million, respectively, and for the nine months ended September, 2023 and 2022, these fees totaled $12.8 million an d $3.7 million , respectively. Under the program agreement, Prosper is responsible for servicing the entire underlying Credit Card portfolio. Coastal pays the Company a 1% per annum servicing fee on the daily outstanding balance of receivables designated as Coastal Allocations. To the extent these servicing fees do not exceed the market servicing rate a market participant would require to service the entire Credit Card portfolio, the Company records a servicing obligation liability and measures it at fair value through the servicing period. The net balance of this servicing obligation liability is included in Other Liabilities on the accompanying condensed consolidated balance sheets (Note 10). Changes in the fair value of the servicing obligation liability are recorded in Servicing Fees, Net on the accompanying condensed consolidated statements of operations, and totaled $1.8 million and $1.1 million for the three months ended September 30, 2023 and 2022, respectively, and $3.9 million and $2.4 million for the nine months ended September 30, 2023 and 2022, respectively.

SERVICING ASSETS

SERVICING ASSETS	9 Months Ended
	Sep. 30, 2023
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, Net on the accompanying condensed consolidated statement of operations. 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 Company recognized a loss on the sale of such Borrower Loans in the amount of $3.0 million and $1.1 million for the three months ended September 30, 2023 and 2022 , respectively, recorded in (Loss) Gain on Sale of Borrower Loans on the condensed consolidated statements of operations. The Company recognize d a loss on the sale of such Borrower Loans in the amount of $6.3 million and a gain in the amount of $3.9 million for the nine months ended September 30, 2023 and 2022 , respectively, recorded in (Loss) Gain on Sale of Borrower Loans on the condensed consolidated statements of operations. As of September 30, 2023, Borrower Loans that were sold but for which Prosper retained servicing rights had a total outstanding principal balance of $3.2 billion, original terms to maturity of 24, 36, 48 or 60 months, monthly payments with fixed interest rates ranging from 5.31% to 33.00%, and various original maturity dates through September 2028. As of December 31, 2022, Borrower Loans that were sold b ut for which Prosper retained servicing rights had a total outstanding principal balance of $3.2 billion, original terms to maturity of either 24, 36, 48 or 60 months, monthly payments with fixed interest rates ranging from 5.31% to 33.00%, and various original maturity dates through December 2027. Contractually-specified servicing fees and ancillary fees tota ling $7.7 million a nd $7.8 million for the three months ended September 30, 2023 and 2022 , respectively, and $23.6 million a nd $21.0 million for the nine months ended September 30, 2023 and 2022 , respectively, are included in 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 discounts those cash flows at a rate of return that results in the fair value amount. Significant unobservable inputs presented in the table within Note 8 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. With the assistance of a valuation specialist, Prosper estimates 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 use 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 8 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 8 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. PFL recognized a loss on the sale of such Borrower Loans in the amount of $2.9 million and $0.3 million for the three months ended September 30, 2023 and 2022, respectively, recorded in (Loss) Gain on Sale of Borrower Loans on the condensed consolidated statements of operations. PFL recognized a loss on the sale of such Borrower Loans in the amount of $5.2 million and a gain in the amount of $5.6 for the nine months ended September 30, 2023 and 2022, respectively, recorded in (Loss) Gain on Sale of Borrower Loans on the condensed consolidated statements of operations. As of September 30, 2023, Borrower Loans that were sold, but for which PFL retained servicing rights, had a total outstanding principal balance of $3.6 billion, origi nal ter ms of 24, 36, 48 or 60 months, monthly payments with fixed interest rates ranging fro m 5.31% to 33.00%, and various original maturity dates through September 2028. As of December 31, 2022, Borrower Loans that were sold, but fo r which PFL retained servicing rights, had a total outstanding principal balance of $3.7 billion, original terms of either 24, 36, 48 or 60 months, monthly payments with fixed interest rates ranging from 5.31% to 33.00%, and various original maturity dates through December 2027. Contractually-specified servicing fees and ancillary fees tot aled $10.0 million and $9.1 million for the three months ended September 30, 2023 and 2022, respectively, and $41.8 million and $24.1 million for the nine months ended September 30, 2023 and 2022, and are included in Servicing Fees, Net on the condensed consolidated statements of operations. 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. With the assistance of a valuation specialist, 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	9 Months Ended
	Sep. 30, 2023
Transfers and Servicing [Abstract]
SECURITIZATIONS	Securitizations In September 2023, Prosper closed the PMIT 2023-1 Transaction, a securitization of unsecured personal whole loans that were previously originated through Prosper’s marketplace platform. Based on the terms of the underlying agreements, the PWIIT Warehouse Line (see Note 11, Debt ) agreed to contribute Borrower Loans with an aggregate outstanding principal balance of $275.9 million as of the established cutoff date of August 31, 2023, to the PMIT 2023-1 Transaction. On September 25, 2023, these Borrower Loans with an updated aggregate outstanding principal balance of approximately $266.1 million were contributed to the PMIT 2023-1 Transaction. PMIT 2023-1 issued notes and residual certificates to finance the purchase of the Borrower Loans. The notes were sold to third-party investors, and the residual certificates were acquired by PMI, as a majority-owned affiliate of the sole sponsor of the PMIT 2023-1 Transaction, PFL. In addition to the residual certificates, Prosper’s continued involvement includes loan servicing responsibilities over the life of the underlying loans. PMIT 2023-1 is deemed a VIE, and the Company consolidates it as the primary beneficiary. Through Prosper’s role as the servicer, it has the power to direct the activities that most significantly affect the PMIT 2023-1 Transaction’s economic performance. Additionally, because the Company holds the residual certificates, it has a variable interest that could potentially be significant to PMIT 2023-1. 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 PMIT 2023-1. Management assesses whether Prosper is the primary beneficiary of the VIE on an on-going basis. For PMIT 2023-1, the creditors have no recourse to the general credit of Prosper and the liabilities of the securitization trust can only be settled by PMIT 2023-1’s assets. Additionally, the assets of PMIT 2023-1 can be used only to settle obligations of PMIT 2023-1. Because Prosper consolidates the securitization trust, the Borrower Loans held in the securitization trust are included in “Borrower Loans, at Fair Value,” and the notes sold to third-party investors are presented in “Notes Issued by Securitization Trust” on the condensed consolidated balance sheets. Because Prosper holds 100% of the residual certificates issued by PMIT 2023-1, they eliminate through consolidation and are thus not presented on the condensed consolidated balance sheets. The notes under PMIT 2023-1 were issued in five classes: Class A in the amount of $165.5 million, Class B in the amount of $25.4 million, Class C in the amount of $25.1 million, Class D in the amount of $22.3 million and Class E in the amount of $13.1 million (collectively, the “2023-1 Notes”). The Class A, Class B, Class C, Class D and Class E notes bear interest at fixed rates of 7.06%, 7.48%, 8.29%, 11.24% and 15.49%, respectively. Principal and interest payments began in October 2023 and are payable monthly. These notes are recorded at amortized cost, net of original issue discounts totaling approximately $0.8 million. These discounts, along with debt issuance costs incurred of $2.7 million, are deferred and amortized into interest expense over the contractual lives of the notes using the effective interest method. The notes held by third-party investors, along with unamortized original issue discounts and debt issuance costs, are aggregated and presented as “Notes Issued by Securitization Trust” on the condensed consolidated balance sheet. As of September 30, 2023, the outstanding principal and accrued interest of these notes was $251.8 million, secured by an aggregate outstanding principal balance of $265.0 million of borrower loans included in “Borrower Loans, at Fair Value” on the condensed consolidated balance sheets, and approximately $15.0 million in cash collections held in collateral and reserve accounts included in “Restricted Cash” on the condensed consolidated balance sheets.

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2023
Entity Information [Line Items]
FAIR VALUE OF ASSETS AND LIABILITIES	Fair Value of Assets and Liabilities Prosper 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. Financial Instruments Recorded at Fair Value The fair value of the Borrower Loans, Loans Held for Sale, Notes, Servicing Assets and Liabilities 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 fair value of the Credit Card Derivative is also estimated using a discounted cash flow model using certain assumptions. The key assumptions used in the valuation include default and prepayment rates derived primarily from historical performance and relevant market data, adjusted as necessary based on the perceived credit risk of the underlying portfolio. In addition, discount rates based on estimates of the rates of return that investors would require when investing in similar credit card portfolios are applied to the individual freestanding derivatives. The Convertible Preferred Stock Warrant Liability is valued using a Black-Scholes option pricing model. Refer to Note 13 for further details. The following tables present the fair value hierarchy for assets and liabilities measured at fair value (in thousands): September 30, 2023 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Loans Held for Sale at Fair Value $ — $ — $ 191,566 $ 191,566 Borrower Loans, at Fair Value — — 592,229 592,229 SOFR rate swaption (Note 11) — 797 — 797 Servicing Assets — — 13,110 13,110 Credit Card Derivative (Note 5) — — 28,066 28,066 Total Assets $ — $ 797 $ 824,971 $ 825,768 Liabilities: Notes, at Fair Value $ — $ — $ 329,601 $ 329,601 Convertible Preferred Stock Warrant Liability — — 210,776 210,776 Loan Trailing Fee Liability (Note 10) — — 3,182 3,182 Credit Card servicing obligation liability (Note 5) — — 7,584 7,584 Total Liabilities $ — $ — $ 551,143 $ 551,143 December 31, 2022 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Loans Held for Sale at Fair Value $ — $ — $ 499,765 $ 499,765 Borrower Loans, at Fair Value — — 320,642 320,642 LIBOR rate swaption (Note 11) — 1,289 — 1,289 Servicing Assets — — 12,562 12,562 Credit Card Derivative (Note 5) $ — $ — 10,782 10,782 Total Assets $ — $ 1,289 $ 843,751 $ 845,040 Liabilities: Notes, at Fair Value $ — $ — $ 318,704 $ 318,704 Convertible Preferred Stock Warrant Liability — — 166,346 166,346 Loan Trailing Fee Liability (Note 10) — — 3,290 3,290 Credit Card servicing obligation liability (Note 5) $ — $ — 3,720 3,720 Total Liabilities $ — $ — $ 492,060 $ 492,060 As PMI’s Borrower Loans, Loans Held for Sale, Notes, Convertible Preferred Stock Warrant Liability, Servicing Assets and Liability, Credit Card Derivative 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 nine months ended September 30, 2023 and September 30, 2022. 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 September 30, 2023 and December 31, 2022: Range Borrower Loans, Loans Held for Sale and Notes: September 30, 2023 December 31, 2022 Discount rate 6.4% - 13.7% 5.4% - 13.2% Default rate 1.5% - 18.9% 1.8% - 18.7% Range Servicing Assets: September 30, 2023 December 31, 2022 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.8% - 19.1% 2.0% - 19.3% Prepayment rate 11.2% - 29.7% 14.2% - 28.0% Market servicing rate (1) (2) 0.633% - 0.842% 0.648% - 0.842% (1) Servicing assets associated with loans enrolled in a relief program offered by the Company as of September 30, 2023 and December 31, 2022 were measured using a market servicing rate assumptio n of 84.2 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. (2) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of September 30, 2023 and December 31, 2022, the market rate for collection fees and non-sufficient fund fees was assumed to be 6 basis points and 6 basis points, respectively, for a total market servicing rate range of 69.3 - 90.2 basis points and 70.8 - 90.2 basis points, respectively. Range Loan Trailing Fee Liability: September 30, 2023 December 31, 2022 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.8% - 19.1% 2.0% - 19.3% Prepayment rate 11.2% - 29.7% 14.2% - 28.0% Ranges of inputs are not applied to the Credit Card Derivative and Credit Card servicing obligation liability, as they are valued at the portfolio level. Refer below for a summary of the significant unobservable inputs associated with those Level 3 fair value measurements. At September 30, 2023 and December 31, 2022, 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 and Notes 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 Total Balance at January 1, 2023 $ 320,642 $ 499,765 $ (318,704) $ 501,703 Purchase of Borrower Loans/Issuance of Notes 182,119 1,527,549 (180,012) 1,529,656 Principal repayments (140,520) (190,303) 141,625 (189,198) Borrower Loans sold to third parties (3,280) (1,349,067) — (1,352,347) Other changes 2,850 (2,189) (619) 42 Change in fair value (29,233) (34,538) 28,109 (35,662) Transfer of Loans Held for Sale to Borrower Loans upon PMIT 2023-1 Transaction, at Fair Value 259,651 (259,651) — — Balance at September 30, 2023 $ 592,229 $ 191,566 $ (329,601) $ 454,194 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at January 1, 2022 $ 267,626 $ 243,170 $ (265,985) $ 244,811 Purchase of Borrower Loans/Issuance of Notes 214,271 2,271,312 (214,107) 2,271,476 Principal repayments (156,706) (130,667) 158,105 (129,268) Borrower Loans sold to third parties (1,326) (1,969,647) — (1,970,973) Other changes 216 936 (320) 832 Change in fair value (21,110) (16,895) 21,228 (16,777) Balance at September 30, 2022 $ 302,971 $ 398,209 $ (301,079) $ 400,101 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held For Sale Notes Total Balance at July 1, 2023 $ 334,259 $ 517,781 $ (330,747) $ 521,293 Purchase of Borrower Loans/Issuance of Notes 56,323 428,688 (56,468) 428,543 Principal repayments (48,158) (61,048) 47,759 (61,447) Borrower Loans sold to third parties (1,326) (420,494) — (421,820) Other changes 2,654 (2,763) (359) (468) Change in fair value (11,174) (10,947) 10,214 (11,907) Transfer of Loans Held for Sale to Borrower Loans upon PMIT 2023-1 Transaction, at Fair Value 259,651 (259,651) — — Balance at September 30, 2023 $ 592,229 $ 191,566 $ (329,601) $ 454,194 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held For Sale Notes Total Balance at July 1, 2022 $ 301,893 $ 312,693 $ (300,521) $ 314,065 Purchase of Borrower Loans/Issuance of Notes 70,486 978,664 (69,797) 979,353 Principal repayments (59,750) (47,487) 60,375 (46,862) Borrower Loans sold to third parties (502) (838,774) — (839,276) Other changes 64 575 (207) 432 Change in fair value (9,220) (7,462) 9,071 (7,611) Balance at September 30, 2022 $ 302,971 $ 398,209 $ (301,079) $ 400,101 The following tables present additional information about Level 3 Servicing Assets measured at fair value on a recurring basis for the three and nine month periods ending September 30, 2023 and 2022 (in thousands): Servicing Assets Balance at January 1, 2023 $ 12,562 Additions 7,157 Less: Changes in fair value (6,609) Balance at September 30, 2023 $ 13,110 Servicing Assets Balance at January 1, 2022 $ 8,761 Additions 9,888 Less: Changes in fair value (6,380) Balance at September 30, 2022 $ 12,269 Servicing Assets Balance at July 1, 2023 $ 12,833 Additions 2,290 Less: Changes in fair value (2,013) Balance at September 30, 2023 $ 13,110 Servicing Assets Balance at July 1, 2022 $ 10,323 Additions 4,211 Less: Changes in fair value (2,265) Balance at September 30, 2022 $ 12,269 The following tables present additional information about the Level 3 Credit Card derivative measured at fair value on a recurring basis for the three and nine month periods ending September 30, 2023 and 2022 (in thousands): Credit Card Derivative Balance at January 1, 2023 $ 10,782 Changes in fair value 17,284 Net losses from settled transactions (270) Add: Net payments made 270 Balance at September 30, 2023 $ 28,066 Credit Card Derivative Balance at January 1, 2022 $ 7 Changes in fair value 6,839 Net gains from settled transactions 2,355 Add: Net payments made (1,364) Balance at September 30, 2022 $ 7,837 Credit Card Derivative Balance at July 1, 2023 $ 19,542 Changes in fair value 8,524 Net gains from settled transactions 749 Less: Net payments received (749) Balance at September 30, 2023 $ 28,066 Credit Card Derivative Balance at July 1, 2022 $ 4,861 Changes in fair value 2,976 Net gains from settled transactions 1,779 Add: Net payments made (1,779) Balance at September 30, 2022 $ 7,837 The following tables present additional information ab out the Level 3 Credit Card servicing obligation liability measured at fair value on a recurring basis for the three and nine month periods ending September 30, 2023 and 2022 (in thousands): Credit Card Servicing Obligation Liability Fair Value at January 1, 2023 $ 3,720 Change in fair value 3,864 Balance at September 30, 2023 $ 7,584 Credit Card Servicing Obligation Liability Fair Value at January 1, 2022 $ — Change in fair value 2,381 Balance at September 30, 2022 $ 2,381 Credit Card Servicing Obligation Liability Fair Value at July 1, 2023 $ 5,769 Change in fair value 1,815 Balance at September 30, 2023 $ 7,584 Credit Card Servicing Obligation Liability Fair Value at July 1, 2022 $ 1,246 Change in fair value 1,135 Balance at September 30, 2022 $ 2,381 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 three and nine month periods ending September 30, 2023 and 2022 (in thousands): Convertible Preferred Stock Warrant Liability Balance as of January 1, 2023 $ 166,346 Change in fair value 44,430 Balance as of September 30, 2023 $ 210,776 Convertible Preferred Stock Warrant Liability Balance as of January 1, 2022 $ 250,941 Change in fair value (88,860) Balance as of September 30, 2022 $ 162,081 Convertible Preferred Stock Warrant Liability Balance as of July 1, 2023 $ 194,070 Change in fair value 16,706 Balance as of September 30, 2023 $ 210,776 Convertible Preferred Stock Warrant Liability Balance as of July 1, 2022 $ 173,455 Change in fair value (11,374) Balance as of September 30, 2022 $ 162,081 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 three and nine month periods ending September 30, 2023 and 2022 (in thousands): Loan Trailing Fee Liability Balance at January 1, 2023 $ 3,290 Issuances 1,596 Cash Payment of Loan Trailing Fee (2,111) Change in Fair Value 407 Balance at September 30, 2023 $ 3,182 Loan Trailing Fee Liability Balance at January 1, 2022 $ 2,161 Issuances 2,286 Cash Payment of Loan Trailing Fee (1,485) Change in Fair Value 100 Balance at September 30, 2022 $ 3,062 Loan Trailing Fee Liability Balance at July 1, 2023 $ 3,294 Issuances 464 Cash Payment of Loan Trailing Fee (705) Change in Fair Value 129 Balance at September 30, 2023 $ 3,182 Loan Trailing Fee Liability Balance at July 1, 2022 $ 2,574 Issuances 964 Cash Payment of Loan Trailing Fee (475) Change in Fair Value (1) Balance at September 30, 2022 $ 3,062 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 September 30, 2023 and December 31, 2022 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 September 30, 2023 December 31, 2022 Fair value, using the following assumptions: $ 783,795 $ 820,407 Weighted-average discount rate 8.58 % 6.72 % Weighted-average default rate 9.97 % 9.31 % Fair value resulting from: 100 basis point increase in discount rate $ 776,132 $ 812,061 200 basis point increase in discount rate $ 768,658 $ 803,927 Fair value resulting from: 100 basis point decrease in discount rate $ 791,653 $ 828,975 200 basis point decrease in discount rate $ 799,716 $ 837,773 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 774,954 $ 810,657 Applying a 1.2 multiplier to default rate $ 766,182 $ 800,989 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 792,699 $ 830,238 Applying a 0.8 multiplier to default rate $ 801,672 $ 840,156 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2023 and December 31, 2022 for Notes are presented in the following table (in thousands, except percentages). Notes September 30, 2023 December 31, 2022 Fair value, using the following assumptions: $ 329,601 $ 318,704 Weighted-average discount rate 8.60 % 6.87 % Weighted-average default rate 11.99 % 11.36 % Fair value resulting from: 100 basis point increase in discount rate $ 326,374 $ 315,456 200 basis point increase in discount rate $ 323,226 $ 312,291 Fair value resulting from: 100 basis point decrease in discount rate $ 332,911 $ 322,037 200 basis point decrease in discount rate $ 336,308 $ 325,461 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 325,854 $ 314,892 Applying a 1.2 multiplier to default rate $ 322,136 $ 311,112 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 333,376 $ 322,547 Applying a 0.8 multiplier to default rate $ 337,179 $ 326,425 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2023 and December 31, 2022 for Servicing Assets is presented in the following table (in thousands, except percentages). Servicing Assets September 30, 2023 December 31, 2022 Fair value, using the following assumptions $ 13,110 $ 12,562 Weighted-average market servicing rate 0.65 % 0.65 % Weighted-average prepayment rate 18.43 % 18.47 % Weighted-average default rate 13.25 % 13.38 % Fair value resulting from: Market servicing rate increase of 0.025% $ 12,277 $ 11,708 Market servicing rate decrease of 0.025% $ 13,943 $ 13,415 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 12,824 $ 12,286 Applying a 0.9 multiplier to prepayment rate $ 13,401 $ 12,842 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 12,876 $ 12,305 Applying a 0.9 multiplier to default rate $ 13,345 $ 12,820 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2023 and December 31, 2022 for the Credit Card Derivative is presented in the following table (in thousands, except percentages). Credit Card Derivative September 30, 2023 December 31, 2022 Fair value, based on the following notional amount and rate assumptions: $ 28,066 $ 10,782 Prosper Allocations outstanding 206,748 102,392 Discount rate on Prosper Allocations 24.69 % 26.23 % Discount rate on Coastal Program Fee 8.86 % 9.26 % Prepayment rate applied to Credit Card portfolio 8.79 % 10.08 % Default rate applied to Credit Card portfolio 14.37 % 13.34 % Fair value resulting from: 100 basis point increase in both discount rates $ 27,781 $ 10,699 200 basis point increase in both discount rates $ 27,503 $ 10,618 Fair value resulting from: 100 basis point decrease in both discount rates $ 28,357 $ 10,866 200 basis point decrease in both discount rates $ 28,655 $ 10,951 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 27,686 $ 10,625 Applying a 0.9 multiplier to prepayment rate $ 28,451 $ 10,942 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 22,475 $ 8,001 Applying a 0.9 multiplier to default rate $ 33,822 $ 13,641 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2023 and December 31, 2022 for Credit Card servicing obligation liability is presented in the following table (in thousands, except percentages). Credit Card servicing obligation liability: September 30, 2023 December 31, 2022 Fair value, using the following assumptions: $ 7,584 $ 3,720 Discount rate on Credit Card portfolio servicing obligation 8.86 % 9.26 % Prepayment rate applied to Credit Card portfolio 8.79 % 10.08 % Default rate applied to Credit Card portfolio 14.37 % 13.34 % Market servicing rate 2.00 % 2.00 % Fair value resulting from: Market servicing rate increase of 0.10% $ 7,989 $ 3,919 Market servicing rate decrease of 0.10% $ 7,179 $ 3,521 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 7,481 $ 3,662 Applying a 0.9 multiplier to prepayment rate $ 7,687 $ 3,779 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 7,396 $ 3,636 Applying a 0.9 multiplier to default rate $ 7,776 $ 3,806 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): September 30, 2023 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and Cash Equivalents $ 39,524 $ 39,524 $ — $ — $ 39,524 Restricted Cash - Cash and Cash Equivalents 94,818 94,818 — — 94,818 Restricted Cash - Certificates of Deposit 3,028 — 3,028 — 3,028 Accounts Receivable 5,959 — 5,959 — 5,959 Total Assets $ 143,329 $ 134,342 $ 8,987 $ — $ 143,329 Liabilities: Accounts Payable and Accrued Liabilities $ 37,532 $ — $ 37,532 $ — $ 37,532 Payable to Investors 62,698 — 62,698 — 62,698 Notes Issued by Securitization Trust 248,335 — 254,975 — 254,975 Warehouse Lines 188,881 — 187,584 — 187,584 Term Loan (Note 11) 74,799 — 77,411 — 77,411 Total Liabilities $ 612,245 $ — $ 620,200 $ — $ 620,200 December 31, 2022 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and Cash Equivalents $ 83,446 $ 83,446 $ — $ — $ 83,446 Restricted Cash - Cash and Cash Equivalents 108,284 108,284 — — 108,284 Restricted Cash - Certificates of Deposit 4,879 — 4,879 — 4,879 Accounts Receivable 3,462 — 3,462 — 3,462 Total Assets $ 200,071 $ 191,730 $ 8,341 $ — $ 200,071 Liabilities: Accounts Payable and Accrued Liabilities $ 37,254 $ — $ 37,254 $ — $ 37,254 Payable to Investors 85,312 — 85,312 — 85,312 Warehouse Lines 446,762 — 444,329 — 444,329 Term Loan (Note 11) 73,407 — 76,191 — 76,191 Total Liabilities $ 642,735 $ — $ 643,086 $ — $ 643,086 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 September 30, 2023 and December 31, 2022, 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. 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): September 30, 2023 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 335,143 $ 335,143 Servicing Assets — — 15,340 15,340 Total Assets $ — $ — $ 350,483 $ 350,483 Liabilities: Notes, at Fair Value $ — $ — $ 329,601 $ 329,601 Loan Trailing Fee Liability — — 3,182 3,182 Total Liabilities $ — $ — $ 332,783 $ 332,783 December 31, 2022 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 320,642 $ 320,642 Servicing Assets — — 14,860 14,860 Total Assets $ — $ — $ 335,502 $ 335,502 Liabilities: Notes, at Fair Value $ — $ — $ 318,704 $ 318,704 Loan Trailing Fee Liability — — 3,290 3,290 Total Liabilities $ — $ — $ 321,994 $ 321,994 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. PFL did not transfer any assets or liabilities in or out of Level 3 for the nine months ended September 30, 2023 or September 30, 2022. 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 September 30, 2023 December 31, 2022 Discount rate 7.1% - 13.5% 5.6% - 12.9% Default rate 1.8% - 18.7% 1.8% - 18.2% Range Servicing Assets September 30, 2023 December 31, 2022 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.5% - 19.1% 2.0% - 19.3% Prepayment rate 11.2% - 30.1% 14.2% - 28.0% Market servicing rate (1) (2) 0.633% - 0.842% 0.648% - 0.842% (1) Servicing assets associated with loa ns enrolled in a relief program offered by the Company as of September 30, 2023 and December 31, 2022 were measured using a market servicing rate assumption of 84.2 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 . (2 ) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of September 30, 2023 and December 31, 2022, the market rate for collection fees and non-sufficient fund fees was assumed to be 6 basis points and 6 basis points, respectively, for a total market servicing rate range of 69.3 - 90.2 basis points and a total market servicing rate of 70.8 - 90.2 basis points, respectively. Range Loan Trailing Fee Liability September 30, 2023 December 31, 2022 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.5% - 19.1% 2.0% - 19.3% Prepayment rate 11.2% - 30.1% 14.2% - 28.0% 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 (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, 2023 $ 320,642 $ — $ (318,704) $ 1,938 Originations 182,119 1,527,549 (180,012) 1,529,656 Borrower Loans contributed by Parent, at Fair Value 2,010 — — 2,010 Principal repayments (139,434) — 141,625 2,191 Borrower Loans sold to third parties (3,331) (1,527,549) — (1,530,880) Other changes 790 — (619) 171 Change in fair value (27,653) — 28,109 456 Balance at September 30, 2023 $ 335,143 $ — $ (329,601) $ 5,542 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at January 1, 2022 $ 267,626 $ — $ (265,985) $ 1,641 Originations 214,271 2,271,312 (214,107) 2,271,476 Principal repayments (156,706) — 158,105 1,399 Borrower Loans sold to third parties (1,326) (2,271,312) — (2,272,638) Other changes 216 — (320) (104) Change in fair value (21,110) — 21,228 118 Balance at September 30, 2022 $ 302,971 $ — $ (301,079) $ 1,892 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at July 1, 2023 $ 334,259 $ — $ (330,747) $ 3,512 Originations 56,323 428,688 (56,468) 428,543 Borrower Loans contributed by Parent, at Fair Value 2,010 — — 2,010 Principal repayments (47,072) — 47,759 687 Borrower Loans sold to third parties (1,326) (428,688) — (430,014) Other changes 543 — (359) 184 Change in fair value (9,594) — 10,214 620 Balance at September 30, 2023 $ 335,143 $ — $ (329,601) $ 5,542 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at July 1, 2022 $ 301,893 $ — $ (300,521) $ 1,372 Originations 70,486 978,664 (69,797) 979,353 Principal repayments (59,750) — 60,375 625 Borrower Loans sold to third parties (502) (978,664) — (979,166) Other changes 64 — (207) (143) Change in fair value (9,220) — 9,071 (149) Balance at September 30, 2022 $ 302,971 $ — $ (301,079) $ 1,892 The following tables present additional information about Level 3 Servicing Assets recorded at fair value (in thousands): Servicing Assets Balance as of January 1, 2023 $ 14,860 Additions 8,070 Less: Changes in fair value (7,590) Balance as of September 30, 2023 $ 15,340 Servicing Assets Balance as of January 1, 2022 $ 9,796 Additions 11,383 Less: Changes in fair value (7,105) Balance as of September 30, 2022 $ 14,074 Servicing Assets Balance as of July 1, 2023 $ 15,148 Additions 2,346 Less: Changes in fair value (2,154) Balance as of September 30, 2023 $ 15,340 Servicing Assets Balance as of July 1, 2022 $ 11,699 Additions 4,903 Less: Changes in fair value (2,528) Balance as of September 30, 2022 $ 14,074 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 Balance as of January 1, 2023 $ 3,290 Issuances 1,596 Cash payment of Loan Trailing Fee (2,111) Change in fair value 407 Balance as of September 30, 2023 $ 3,182 Loan Trailing Fee Liability Balance as of January 1, 2022 $ 2,161 Issuances 2,286 Cash payment of Loan Trailing Fee (1,485) Change in fair value 100 Balance as of September 30, 2022 $ 3,062 Loan Trailing Fee Liability Balance as of July 1, 2023 $ 3,294 Issuances 464 Cash payment of Loan Trailing Fee (705) Change in fair value 129 Balance as of September 30, 2023 $ 3,182 Loan Trailing Fee Liability Balance as of July 1, 2022 $ 2,574 Issuances 964 Cash payment of Loan Trailing Fee (475) Change in fair value (1) Balance as of September 30, 2022 $ 3,062 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 September 30, 2023 and December 31, 2022 for Borrower Loans are presented in the following table (in thousands, except percentages). Borrower Loans: September 30, 2023 December 31, 2022 Fair value, using the following assumptions: $ 335,143 $ 320,642 Weighted-average discount rate 8.60 % 6.87 % Weighted-average default rate 11.99 % 11.36 % Fair value resulting from: 100 basis point increase in discount rate $ 331,868 $ 317,380 200 basis point increase in discount rate $ 328,673 $ 314,201 Fair value resulting from: 100 basis point decrease in discount rate $ 338,505 $ 323,991 200 basis point decrease in discount rate $ 341,953 $ 327,429 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 331,365 $ 316,832 Applying a 1.2 multiplier to default rate $ 327,614 $ 313,053 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 338,953 $ 324,484 Applying a 0.8 multiplier to default rate $ 342,789 $ 328,361 Key economic assumptions are used to compute the fair value of Notes. The sensitivity of the fair value to immediate changes in assumptions at September 30, 2023 and December 31, 2022 for Notes funded through the Note Channel are presented in the following table (in thousands, except percentages). Notes September 30, 2023 December 31, 2022 Fair value, using the following assumptions: $ 329,601 $ 318,704 Weighted-average discount rate 8.60 % 6.87 % Weighted-average default rate 11.99 % 11.36 % Fair value resulting from: 100 basis point increase in discount rate $ 326,374 $ 315,456 200 basis point increase in discount rate $ 323,226 $ 312,291 Fair value resulting from: 100 basis point decrease in discount rate $ 332,911 $ 322,037 200 basis point decrease in discount rate $ 336,308 $ 325,461 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 325,854 $ 314,892 Applying a 1.2 multiplier to default rate $ 322,136 $ 311,112 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 333,376 $ 322,547 Applying a 0.8 multiplier to default rate $ 337,179 $ 326,425 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 September 30, 2023 and December 31, 2022 for Servicing Assets are presented in the following table (in thousands, except percentages). Servicing Assets September 30, 2023 December 31, 2022 Fair value, using the following assumptions: $ 15,340 $ 14,860 Weighted-average market servicing rate 0.651 % 0.649 % Weighted-average prepayment rate 18.79 % 18.77 % Weighted-average default rate 12.63 % 12.63 % Fair value resulting from: Market servicing rate increase of 0.025% $ 14,365 $ 13,850 Market servicing rate decrease of 0.025% $ 16,315 $ 15,870 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 15,005 $ 14,534 Applying a 0.9 multiplier to prepayment rate $ 15,680 $ 15,191 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 15,066 $ 14,557 Applying a 0.9 multiplier to default rate $ 15,615 $ 15,165 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

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS, NET	9 Months Ended
	Sep. 30, 2023
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, 2022 did not change during the nine months ended September 30, 2023. The Company recorded no goodwill impairment for the nine months ended September 30, 2023 and 2022. Other Intangible Assets The following table presents the detail of other intangible assets subject to amortization as of the following date (dollars in thousands): September 30, 2023 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 (4,938) 112 1.6 Brand name 60 (60) — — Total Intangible Assets subject to amortization $ 8,170 $ (8,058) $ 112 Prosper’s intangible asset balance w as $0.1 million and $0.2 million at September 30, 2023 and December 31, 2022, 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 September 30, 2023 and 2022 was not material. Estimated amortization of purchased intangible assets for future periods is as follows (in thousands): Year Ending December 31, 2023 (remainder thereof) $ 27 2024 85 Total $ 112

OTHER LIABILITIES

OTHER LIABILITIES	9 Months Ended
	Sep. 30, 2023
Other Liabilities [Abstract]
OTHER LIABILITIES	Other Liabilities Other Liabilities consist of the following (in thousands): September 30, 2023 December 31, 2022 Operating lease liabilities (Note 16) $ 15,123 $ 16,351 Deferred revenue 5,531 3,880 Credit Card servicing obligation liability (Note 5) 7,584 3,720 Loan trailing fee liability 3,182 3,290 Deferred income tax liability 658 658 Other 1,045 359 Total Other Liabilities $ 33,123 $ 28,258 Additionally, disclosures around the operating lease liabilities are included in Note 16.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
DEBT	Debt Term Loan Credit Agreement On November 14, 2022, the Company entered into a Credit Agreement with a third-party financial institution, which provides for a $75 million Term Loan maturing on November 14, 2026. Proceeds received from the Term Loan were net of an original issue discount and the Company also incurred approximately $0.4 million in debt issuance costs. Both the original issue discount and the debt issuance costs are being amortized over the life of the Term Loan to interest expense using the effective interest method. Interest Borrowings under the Term Loan accrue interest at the Secured Overnight Financing Rate (“SOFR”) plus 9.0% per annum. In addition, all borrowings under the Term Loan accrue payment-in-kind (“PIK”) interest at 2.0% per annum. Any accrued PIK interest that remains unpaid at the end of each month is added to the outstanding principal balance of the Term Loan. Guarantees and Collateral PMI’s obligations under the Term Loan are guaranteed by PHL and BillGuard. All obligations under the Credit Agreement are secured by a first priority, perfected lien on substantially all of the assets of PMI (subject to exclusions such as certain cash amounts and deposit accounts), PHL and BillGuard, as well as equity interests in all of PMI’s subsidiaries with the exception of PGT. Covenants and Other Matters The Credit Agreement contains a number of covenants that, among other things and subject to certain exceptions and thresholds, restrict PMI’s ability to incur certain new indebtedness; incur certain liens; sell or otherwise dispose of all or substantially all its assets; make loans, advances, and guarantees; and pay dividends or make other distributions on equity interests. In addition, the Credit Agreement contains certain financial covenants with which the Company must remain in compliance as of the last business day of each month during the life of the Term Loan: • a minimum tangible net worth • a minimum net liquidity • a maximum leverage ratio • a minimum asset coverage ratio The Company is in compliance with all covenant s as of September 30, 2023, as well as applicable monthly periods for the quarter then ended. The Credit Agreement also contains certain customary representations and warranties and affirmative covenants, and certain reporting obligations. In addition, the Term Loan lender will be permitted to accelerate all outstanding borrowings and exercise other specified remedies upon the occurrence of certain events of default (subject to certain grace periods and exceptions), which include, among other things, payment defaults, breaches of representations and warranties, covenant defaults, certain cross-defaults to other indebtedness, certain events of bankruptcy and insolvency, certain judgments and changes of control. Prosper 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 September 30, 2023, 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 with a national banking association. 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. On May 5, 2023, PMI further amended its PWIT Warehouse Line (“PWIT 2023 Extension”). The PWIT 2023 Extension increased the maximum borrowing amount from $200 million to $244 million, consisting of a $200 million Class A loan with the existing PWIT Warehouse Line national banking association and a $44 million Class B loan with an asset manager. Under the PWIT 2023 Extension, the total advance rate is 91.5%. Proceeds of loans purchased through the PWIT Warehouse Line may be borrowed, repaid and reborrowed until the earlier of June 20, 2024 or the occurrence of any accelerated amortization event or event of default. Repayment on any outstanding proceeds will be made over a 12-month period ending June 20, 2025, excluding the occurrence of any accelerated amortization event or event of default. Under the PWIT 2023 Extension, the Class A loan bears interest at a rate of one-month SOFR, plus a spread of 2.75% per annum, while the Class B loan bears interest at a rate of one-month SOFR, plus a spread of 8.50% per annum. The spread under both loans increases by 0.15% per annum effective January 1, 2024 unless a securitization or refinancing is executed prior to that date. Additionally, until June 20, 2024, both loans bear a daily unused commitment fee of 0.50% per annum on the undrawn portion available under each respective loan. As of September 30, 2023, Prosper ha d $188.9 million in debt and accrued interest outstanding under the PWIT Warehouse Line. This debt is secured by an aggregate outstanding principal balance of $199.9 million included in Loans Held for Sale, at Fair Value, and $11.5 million of cash included in Restricted Cash on the condensed consolidated balance sheets. As of September 30, 2023 the undrawn portion available under the PWIT Warehouse Line was $56.6 million. Prospe r 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 maintains a swaption to limit the Company's exposure to increases in SOFR on up to $185.0 million of borrowings under the PWIT Warehouse Line. 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 on the condensed consolidated statement of operations. The fair value of the swaption was $0.8 million and $1.3 million as of September 30, 2023 and December 31, 2022, respectively. The change in fair value of the swaption was a gain o f $0.1 million for the three months ended September 30, 2023 and a gain of $1.2 million for the three months ended September 30, 2022, respectively. The change in fair value of the swaption was a loss of $0.5 million and a gain of $1.6 million for the nine months ended September 30, 2023 and 2022, respectively. 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. Subsequently on March 4, 2021, PMI extended its $300 million PWIIT Warehouse Line (“PWIIT 2021 Extension”). The PWIIT 2021 Extension consisted 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. On February 10, 2023, PMI again extended its PWIIT Warehouse Line (“PWIIT 2023 Extension”). The PWIIT 2023 Extension increased the maximum borrowing amount from $300 million to $450 million, consisting of a $400 million Class A loan with the existing PWIIT Warehouse Line national banking association and a $50 million Class B loan with the existing asset manager. In May 2023, the Company further amended the PWIIT Warehouse Line, which included replacing the existing Class B lender with another third-party asset manager and lowering the spread on Class B borrowings. In July 2023, the PWIIT Warehouse Line was further amended, decreasing the maximum borrowing amount from $450 million to $300 million, consisting of a $265 million Class A loan and a $35 million Class B loan. The Class A loan bore interest at a per annum rate of the national banking association's asset-backed commercial paper rate, plus a spread of 2.85%, while the Class B loan bore interest a per annum rate of adjusted one-month SOFR, plus a spread of 8.75%. In conjunction with the PMIT 2023-1 Transaction (see Note 7, Securitizations ), the entire portfolio of Borrower Loans held in the PWIIT Warehouse Line, with an unpaid principal balance of $273.8 million as of September 25, 2023, was transferred to either the PMIT 2023-1 Transaction or PFL, as follows: $266.1 million of those Borrower Loans were contributed into the securitization trust through a depositor, and the remaining $7.7 million consisted of loans ineligible for securitization and were transferred to PFL. Proceeds from the sale of these loans were used to pay down the outstanding principal and interest on the PWIIT Warehouse Line of $224.0 million, and the PWIIT Warehouse line was terminated at that time. Remaining proceeds after transaction expenses were transferred to PMI. As a result of the termination of the PWIIT Warehouse Line, deferred and unamortized debt issuance costs of $1.9 million were immediately amortized into interest expense. Paycheck Protection Program Loan In April 2020, the Company obtained an $8.4 million loan under the PPP, established by the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and sponsored by the U.S. Small Business Administration (“SBA”). The loan accrued interest at one percent per annum and had a two-year term through April 2022, with payments deferred until such time as an approval or denial of forgiveness was 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. On March 21, 2022, the Company was notified by the SBA that all principal and interest under the loan, totaling $8.6 million, was forgiven in full through a forgiveness payment made on March 15, 2022 by the SBA to the lender of the PPP loan. As a result, the Company recognized a “Gain on Forgiveness of PPP Loan” for this amount on its accompanying Consolidated Statement of Operations for the nine months ended September 30, 2022.

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
NET INCOME (LOSS) PER SHARE	Net Income (Loss) Per Share PMI computes its 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. PMI’s 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 nine months ended September 30, 2023 and 2022, 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. Basic and diluted net income (loss) per share were calculated as follows for the periods presented (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Net (Loss) Income $ (31,043) $ 8,621 $ (92,903) $ 87,918 Less: Net Income Allocated to Participating Securities — (5,772) — (59,054) Net (Loss) Income Attributable to Common Stockholders $ (31,043) $ 2,849 $ (92,903) $ 28,864 Denominator: Weighted average shares used in computing basic net income (loss) per share 76,617,924 73,731,925 75,866,061 73,010,111 Effect of dilutive securities: Stock options — 54,551,659 — 61,828,654 Warrants — 410,837 — 600,194 Convertible preferred stock warrants — 213,264,845 — 213,264,845 Weighted average shares used in computing diluted Net Income (Loss) per Share 76,617,924 341,959,266 75,866,061 348,703,804 Net (Loss) Income Per Share – Basic $ (0.41) $ 0.04 $ (1.22) $ 0.40 Net (Loss) Income Per Share – Diluted $ (0.41) $ 0.01 $ (1.22) $ 0.08 The following common stock equivalents were excluded from the computation of diluted net income (loss) per share for the periods presented because including them would have been anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (shares) (shares) (shares) (shares) Excluded securities: Convertible preferred stock issued and outstanding, excluding shares held by consolidated VIE 158,365,655 158,365,655 158,365,655 158,365,655 Stock options issued and outstanding 79,845,710 16,382,524 81,751,584 16,227,752 Warrants issued and outstanding 1,080,349 669,512 1,080,349 480,155 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 452,556,559 175,417,691 454,462,433 175,073,562

CONVERTIBLE PREFERRED STOCK, CO

CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK	9 Months Ended
	Sep. 30, 2023
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 sheets. 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 September 30, 2023 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 (as defined under the certificate of incorporation). 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 (as defined under the certificate of incorporation) 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 (as defined under the certificate of incorporation) 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 described in Note 12 of PMI’s 10-K for the year ended December 31, 2022) on February 27, 2017. The warrants expire ten years from the date of issuance. For the three months ended September 30, 2023 and 2022, Prosper recognized $2.5 million of expense and $2.5 million of income, respectively, from the re-measurement of the fair value of the warrants. For the nine months ended September 30, 2023 and 2022, Prosper rec ognized $7.1 million of expense and $14.2 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 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 preferred stock warrants utilizing the following assumptions as of the following dates: September 30, 2023 December 31, 2022 Volatility 68.0 % 72.0 % Risk-free interest rate 4.90 % 4.30 % 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 September 30, 2023, 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 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 September 2023 and 2022, Prosper recognized $14.2 million of expense and $8.9 million of income, respectively, from the re-measurement of the fair value of the warrants. For the nine months ended September 2023 and 2022, Prosper recognized $28.4 million of expense and $74.6 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 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 m ethods, 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: September 30, 2023 December 31, 2022 Volatility 68.0 % 72.0 % Risk-free interest rate 4.90 % 4.30 % 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 nine months ended September 30, 2023 and 2022 are presented in Note 8, Fair Value of Assets and Liabilities. Starting with the Series E and F Warrant valuations prepared as of September 30, 2023, due to a change in methodology, the Company removed the discount for lack of marketability that was previously applied to the Black-Scholes option pricing valuation. This change in accounting estimate resulted in an increase to the Convertible Preferred Stock Warrant Liability and the Change in Fair Value of Convertible Preferred Stock Warrants of approximately $38.9 million as of September 30, 2023 and for the three and nine-month period then ended. Common Stock PMI, through its Amended and Restated Certificate of Incorporation, is the sole issuer of common stock and related options, 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 described above, the Company repurchased 2,196,665 shares of Common Stock on December 23, 2019. As of September 30, 2023 , 77,634,473 shares of common stock were issued and 76,698,538 shares of common stock were outstanding. As of December 31, 2022 , 75,223,850 shares of common stock were issued and 74,287,915 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	9 Months Ended
	Sep. 30, 2023
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 Activity Stock option activity under the 2005 Plan and 2015 Plan is summarized for the nine months ended September 30, 2023 below: Options Issued and Outstanding Weighted Average Exercise Price Balance as of January 1, 2023 77,727,763 $ 0.13 Options issued 10,089,430 $ 0.33 Options exercised (2,410,623) $ 0.04 Options forfeited (2,898,908) $ 0.32 Options expired (39,125) $ 0.02 Balance as of September 30, 2023 82,468,537 $ 0.15 Options vested and expected to vest as of September 30, 2023 75,365,083 $ 0.15 Options vested and exercisable as of September 30, 2023 59,111,020 $ 0.08 Other Information Regarding Stock Options The weighted-average remaining contractual term for options outstanding as of September 30, 2023 is 5.92 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 nine months ended September 30, 2023 and 2022 was estimated at the date of grant using the Black-Scholes model with the following average assumptions: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Volatility of common stock 67.08 % 68.09 % 66.63 % 67.08 % Risk-free interest rate 4.04 % 2.87 % 3.45 % 2.61 % Expected life (in years) 6.0 years 6.0 years 6.1 years 6.0 years Dividend yield — % — % — % — % Restricted Stock Unit Activity 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 nine months ended September 30, 2023: Number of Shares Weighted-Average Grant Date Fair Value Unvested at January 1, 2023 2,602,383 $ 1.04 Forfeited (2,250) $ 2.18 Unvested at September 30, 2023 2,600,133 $ 1.04 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Origination and servicing $ 21 $ 36 $ 65 $ 98 Sales and marketing 98 215 201 417 General and administrative 294 245 919 780 Total stock-based compensation $ 413 $ 496 $ 1,185 $ 1,295 As of September 30, 2023 , the unamortized stock-based compensation expense, adjusted for forfeiture estimates, related to unvested stock-based awards was approximately $3.0 million , which will be recognized over a remaining weighted-average vesting period of approximately 2.7 years .

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
Entity Information [Line Items]
INCOME TAXES	Income Taxes For the three months ended September 30, 2023 and 2022, PMI recogniz ed $64 thousand of income tax benefit and $20 thousand of income tax expense, respectively. For the nine months ended September 30, 2023 and 2022, PMI recognized and $76 thousand and $60 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 nine month periods ended September 30, 2023 and 2022 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 nine months ended September 30, 2023 and 2022. 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	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
LEASES	Leases Prosper has operating leases for corporate offices. These leases have remaining lease terms of less than three years to approximately five years. Some of the lease agreements 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 $1.2 million for the three months ended September 30, 2023 and 2022, respectively, and $3.3 million and $3.5 million for the nine months ended September 30, 2023 and 2022, 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 September 30, 2023 and 2022, respectively, and $0.3 million and $0.6 million for the nine months ended September 30, 2023 and 2022, respectively. Operating Lease Right-of-Use (“ROU”) Assets The following table summarizes the operating lease right-of-use assets as of September 30, 2023, which are included in “Property and Equipment, Net” on the condensed consolidated balance sheets. September 30, 2023 Gross Carrying Value Accumulated Amortization Net Carrying Value ROU Assets - Office buildings $ 21,600 $ 9,346 $ 12,254 Total right-of-use assets subject to amortization $ 21,600 $ 9,346 $ 12,254 In May 2022, the Company entered into an amendment to its San Francisco office lease, the most prominent impact of which was to extend the lease term for the Company’s primary space in that office for an additional period through May 2028. As a result of this lease modification, the Company recorded additional ROU operating lease assets and liabilities of $9.9 million. Lease Liabilities Future maturities of operating lease liabilities as of September 30, 2023 were as follows (in thousands). The present value of the future minimum lease payments represents our operating lease liabilities as of September 30, 2023 and are included in " Other Liabilities September 30, 2023 Remainder of 2023 $ 1,204 2024 4,391 2025 4,517 2026 4,432 2027 3,311 Thereafter 1,411 Total future minimum lease payments $ 19,266 Less imputed interest (4,143) Present value of future minimum lease payments $ 15,123 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): September 30, 2023 Weighted average remaining lease term (in years) 4.25 years Weighted average discount rate 11.20 %

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
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 PMI, along with PFL, and WebBank has entered into: (i) an Asset Sale Agreement, dated July 1, 2016, between PFL and WebBank, as most recently amended by a Sixth Amendment dated October 5, 2022 (as amended, the “Sale Agreement”); (ii) the Marketing Agreement, dated July 1, 2016, between PMI and WebBank, as most recently amended by a Sixth Amendment dated June 25, 2021 (as amended, the “Marketing Agreement”); and (iii) the Stand By Purchase Agreement, dated July 1, 2016, between PMI and WebBank, as most recently amended by a Third Amendment dated June 25, 2021 (as amended, the “Purchase Agreement” and, collectively with the Sale Agreement and the Marketing Agreement, the “Origination and Sale Agreements”). Under the Origination and Sale Agreements, all Borrower Loans originated through the marketplace are made by WebBank under its bank charter. The Origination and Sale Agreements contain terms through February 1, 2025. Prosper is required, under the Origination and Sale Agreements, to maintain certain collateral requirements. In addition, pursuant to the Marketing Agreement, 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 $100,000 through February 1, 2025, Prosper is required to pay WebBank an amount equal to such deficiency. Accordingly, the minimum fee for the remaining three months of 2023 is $0.3 million . The minimum fee is $1.2 million for 2024, and $0.1 million in 2025. Additionally, Under the Origination and Sale Agreements, 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 covenant can result in termination of the contract with WebBank. As of September 30, 2023 , the Company was in compliance with the covenant. Loan Purchase Commitments Prosper entered into an agreement with WebBank to purchase $18.4 million of Borrower Loans that WebBank originated during the last two business days of the quarter ended September 30, 2023. Prosper will purchase these Borrower Loans within the first three business days of the quarter ending December 31, 2023. 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 to third parties through the Whole Loan Channel, which at September 30, 2023 is $3.2 billion . Prosper has accrued $0.4 million a nd $0.3 million as of September 30, 2023 and December 31, 2022, respectively, in regard to this obligation. Under the terms of the indenture and investor registration agreement, Prosper may, in certain circumstances, become obligated to either repurchase a Note or indemnify the investor for any losses resulting from nonpayment of a Note purchased in the Retail Channel. The decision to repurchase or indemnify is in Prosper’s sole discretion. These circumstances include, but are not limited to, the occurrence of verifiable identity theft, a technical error in the automated bidding tools which results in the purchase of a Note that does not match the investor’s investment criteria, or situations in which a loan listing includes a Prosper Rating that is different from the Prosper Rating that should have appeared in the listing for the corresponding Borrower Loan because either PFL inaccu rately input data into, or inaccurately applied, the formula for determining the Prosper Rating and, as a result, the interest of the investor is materially and adversely affected. During the nine months ended September 30, 2023 the Company repurchased $0.3 million of Notes under these circumstances, and has agreed to indemnify additional Notes with an unpaid principal balance of $0.9 million as of September 30, 2023. 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. 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 In the normal course of its operations, PFL becomes involved in various legal actions. PFL maintains provisions it considers to be adequate for such actions. The Company does not believe it is probable that the ultimate liability, if any, arising out of any such matters will have a material effect on financial condition, results of operations or cash flows. Operating Commitments PMI, along with PFL, and WebBank has entered into: (i) an Asset Sale Agreement, dated July 1, 2016, between PFL and WebBank, as most recently amended by a Sixth Amendment dated October 5, 2022 (as amended, the “Sale Agreement”); (ii) the Marketing Agreement, dated July 1, 2016, between PMI and WebBank, as most recently amended by a Sixth Amendment dated June 25, 2021 (as amended, the “Marketing Agreement”); and (iii) the Stand By Purchase Agreement, dated July 1, 2016, between PMI and WebBank, as most recently amended by a Third Amendment dated June 25, 2021 (as amended, the “Purchase Agreement” and, collectively with the Sale Agreement and the Marketing Agreement, the “Origination and Sale Agreements”). Under the Origination and Sale Agreements, all Borrower Loans originated through the marketplace are made by WebBank under its bank charter. The Origination and Sale Agreements contain terms through February 1, 2025. Prosper is required, under the Origination and Sale Agreements, to maintain certain collateral requirements. In addition, pursuant to the Marketing Agreement, 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 $100,000 through February 1, 2025, Prosper is required to pay WebBank an amount equal to such deficiency. Accordingly, the minimum fee for the remaining three months of 2023 is $0.3 million . The minimum fee is $1.2 million for 2024, and $0.1 million in 2025. Additionally, Under the Origination and Sale Agreements, 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 covenant can result in termination of the contract with WebBank. As of September 30, 2023 , 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 $18.4 million of Borrower Loans that WebBank originated during the last two business days of the quarter ended September 30, 2023. PFL will purchase these Borrower Loans within the first three business days of the quarter ending December 31, 2023. 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 repurchase obligation is the outstanding balances of the Borrower Loans issued through the Whole Loan Channel, which as of September 30, 2023 is $3.6 billion . PFL has acc rued $0.4 million and $0.3 million as of September 30, 2023 and December 31, 2022, respectively, in regard to this obligation. Under the terms of the indenture and investor registration agreement, Prosper may, in certain circumstances, become obligated to either repurchase a Note or indemnify the investor for any losses resulting from nonpayment of a Note purchased in the Retail Channel. The decision to repurchase or indemnify is in Prosper’s sole discretion. These circumstances include, but are not limited to, the occurrence of verifiable identity theft, a technical error in the automated bidding tools which results in the purchase of a Note that does not match the investor’s investment criteria, or situations in which a loan listing includes a Prosper Rating that is different from the Prosper Rating that should have appeared in the listing for the corresponding Borrower Loan because either PFL inaccurately input data into, or inaccurately applied, the formula for determining the Prosper Rating and, as a result, the interest of the investor is materially and adversely affected. During the nine months ended September 30, 2023 the Company has repurchased $0.3 million of the underlying notes. The Company is indemnifying an additional $0.9 million in outstanding Notes as of September 30, 2023. 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 records 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. 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	9 Months Ended
	Sep. 30, 2023
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 nine months ended September 30, 2023 and 2022, as well as the Notes outstanding as of September 30, 2023 and December 31, 2022 are summarized below (in thousands): Aggregate Amount of Interest Earned on Notes Related Party 2023 2022 2023 2022 Executive officers and management $ 9 $ 9 $ 2 $ 2 Directors (excluding executive officers and management) — — — — Total $ 9 $ 9 $ 2 $ 2 Aggregate Amount of Interest Earned on Notes Related Party 2023 2022 2023 2022 Executive officers and management $ 26 $ 28 $ 6 $ 6 Directors (excluding executive officers and management) — — — 1 Total $ 26 $ 28 $ 6 $ 7 Notes Balance as of Related Party September 30, 2023 December 31, Executive officers and management $ 53 $ 52 Directors (excluding executive officers and management) 2 6 Total $ 55 $ 58
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 three and nine months ended September 30, 2023 and 2022 are summarized below (in thousands): Aggregate Amount of Notes Purchased Interest Earned on Notes Three Months Ended September 30, Three Months Ended September 30, Related Party 2023 2022 2023 2022 Executive officers and management $ 8 $ 8 $ 2 $ 2 Directors (excluding executive officers and management) — — — — Total $ 8 $ 8 $ 2 $ 2 Aggregate Amount of Notes Purchased Interest Earned on Notes Nine Months Ended September 30, Nine Months Ended September 30, Related Party 2023 2022 2023 2022 Executive officers and management $ 23 $ 26 $ 6 $ 5 Directors (excluding executive officers and management) — — — — Total $ 23 $ 26 $ 6 $ 5 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 September 30, 2023 December 31, 2022 Executive officers and management $ 47 $ 45 Directors (excluding executive officers and management) — — Total $ 47 $ 45

SIGNIFICANT CONCENTRATIONS

SIGNIFICANT CONCENTRATIONS	9 Months Ended
	Sep. 30, 2023
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 September 30, 2023, thr ee individual third parties purchased 20.8%, 14.2% and 14.2% of all Borrower Loans originated. For the three months ended September 30, 2022, three individual third parties purchased 23.4%, 12.7% and 10.2% of all Borrower Loans originated, and the Company’s Warehouse VIEs purchased 13.5% of such loans. Of all Borrower Loans originated in the nine months ended September 30, 2023, three individual third parties purchased 13.3%, 11.6% and 11.6% of all Borrower Loans originated, and the Company’s Warehouse VIEs purchased 10.5% of such loans. For the nine months ended September 30, 2022, two individual party purchased 23.7% and 10.3% of such loans, and the Company’s Warehouse VIEs purchased 12.1% of such loans. Prosper receives all of its personal loan 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. Starting in the fourth quarter of 2023, the Company raised its transaction fee cap from 5.0% to 7.99% for certain newly originated loans. No individual borrower or investor accounted for 10% or more of consolidated net revenue for any of the periods presented .

SEGMENTS

SEGMENTS	9 Months Ended
	Sep. 30, 2023
Entity Information [Line Items]
SEGMENTS	Segments Starting with the fourth quarter of 2022, the Company realigned its reportable and operating segments to better reflect the nature and materiality of its product offerings. As a result of these changes, the Company now has three reportable and operating segments: Personal Loan, Home Equity and Credit Card. The Company’s Chief Executive Officer, who serves as the chief operating decision maker (“CODM”) evaluates the financial performance of the Company’s segments based upon segment revenues, as well as segment Adjusted Net Revenue and segment Adjusted EBITDA, both non-GAAP profitability measures. Items outside of Adjusted EBITDA are not reported by segment, since they are excluded from the measure of segment profitability reviewed by the CODM. The Company’s CODM does not use segment assets to allocate resources or to assess performance of the segments and, therefore, total segment assets have not been disclosed. The tables below present segment information reconciled to consolidated Total Net Revenue and Net Income (Loss) Before Income Taxes, as well as interest income and expense included in segment Adjusted Net Revenue and Adjusted EBITDA, for the periods indicated (in thousands). Three Months Ended September 30, 2023 Personal Loan Home Equity Credit Card Total Total Net Revenue $ 20,686 $ 559 $ 11,955 $ 33,200 Impact of interest rates on fair value of loans held in consolidated trusts 1,023 — — 1,023 Accelerated amortization of PWIIT debt issuance costs 1,880 — — 1,880 Segment Adjusted Net Revenue $ 23,589 $ 559 $ 11,955 $ 36,103 Segment Adjusted EBITDA $ (9,159) $ (1,049) $ 4,150 $ (6,058) Depreciation expense: Origination and Servicing (2,060) General and Administration - Other (500) Amortization of intangibles (27) Stock-based compensation (413) Change in Fair Value of Convertible Preferred Stock Warrants (16,706) Impact of interest rates on fair value of loans held in consolidated trusts (1,023) Interest income on cash and cash equivalents 762 Interest Expense on Term Loan (3,202) Accelerated amortization of PWIIT debt issuance costs (1,880) Net Loss Before Income Taxes $ (31,107) Interest Income (Expense) Included in Segment Adjusted EBITDA Interest Income on Borrower Loans and Loans Held for Sale $ 29,388 $ — $ — $ 29,388 Interest Expense on Financial Instruments (25,208) — — (25,208) Accelerated amortization of PWIIT debt issuance costs 1,880 — — 1,880 Total Interest Income, Net $ 6,060 $ — $ — $ 6,060 Three Months Ended September 30, 2022 Personal Loan Home Equity Credit Card Total Total Net Revenue $ 53,755 $ 1,158 $ 5,497 $ 60,410 Impact of interest rates on fair value of loans held in consolidated trusts 4,721 — — 4,721 Segment Adjusted Net Revenue $ 58,476 $ 1,158 $ 5,497 $ 65,131 Segment Adjusted EBITDA $ 6,682 $ (117) $ (1,323) $ 5,242 Depreciation expense: Origination and Servicing (2,175) General and Administration - Other (674) Amortization of intangibles (34) Stock-based compensation (496) Change in Fair Value of Convertible Preferred Stock Warrants 11,374 Impact of interest rates on fair value of loans held in consolidated trusts (4,721) Interest income on cash and cash equivalents 125 Net Income Before Income Taxes $ 8,641 Interest Income (Expense) Included in Segment Adjusted EBITDA Interest Income on Borrower Loans and Loans Held for Sale $ 22,351 $ — $ — $ 22,351 Interest Expense on Financial Instruments (15,609) — — (15,609) Total Interest Income, Net $ 6,742 $ — $ — $ 6,742 Nine Months Ended September 30, 2023 Personal Loan Home Equity Credit Card Total Total Net Revenue $ 79,917 $ 1,216 $ 23,970 $ 105,103 Impact of interest rates on fair value of loans held in consolidated trusts 8,267 — — 8,267 Accelerated amortization of PWIIT debt issuance costs 1,880 — — 1,880 Segment Adjusted Net Revenue $ 90,064 $ 1,216 $ 23,970 $ 115,250 Segment Adjusted EBITDA (19,989) (2,813) 1,508 $ (21,294) Depreciation expense: Origination and Servicing (6,526) General and Administration - Other (1,616) Amortization of intangibles (81) Stock-based compensation (1,185) Change in Fair Value of Convertible Preferred Stock Warrants (44,430) Impact of interest rates on fair value of loans held in consolidated trusts (8,267) Interest income on cash and cash equivalents 1,475 Interest Expense on Term Loan (9,023) Accelerated amortization of PWIIT debt issuance costs (1,880) Net Loss Before Income Taxes $ (92,827) Interest Income (Expense) Included in Segment Adjusted EBITDA Interest Income on Borrower Loans and Loans Held for Sale $ 88,773 $ — $ — $ 88,773 Interest Expense on Financial Instruments (69,771) — — (69,771) Accelerated amortization of PWIIT debt issuance costs 1,880 — — 1,880 Total Interest Income, Net $ 20,882 $ — $ — $ 20,882 Nine Months Ended September 30, 2022 Personal Loan Home Equity Credit Card Total Total Net Revenue $ 141,846 $ 2,507 $ 9,911 $ 154,264 Impact of interest rates on fair value of loans held in consolidated trusts 10,056 — — 10,056 Segment Adjusted Net Revenue $ 151,902 $ 2,507 $ 9,911 $ 164,320 Segment Adjusted EBITDA 19,880 (1,250) (8,714) $ 9,916 Depreciation expense: Origination and Servicing (6,155) General and Administration - Other (1,961) Amortization of intangibles (102) Stock-based compensation (1,295) Change in Fair Value of Convertible Preferred Stock Warrants 88,860 Gain on Forgiveness of PPP Loan 8,604 Impact of interest rates on fair value of loans held in consolidated trusts (10,056) Interest income on cash and cash equivalents 167 Net Income Before Income Taxes $ 87,978 Interest Income (Expense) Included in Segment Adjusted EBITDA Interest Income on Borrower Loans and Loans Held for Sale $ 61,013 $ — $ — $ 61,013 Interest Expense on Financial Instruments (41,479) — — (41,479) Total Interest Income, Net $ 19,534 $ — $ — $ 19,534

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
Entity Information [Line Items]
Basis of Presentation	Prosper Marketplace, Inc. (“PMI” or the “Company”) 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, 2022. The balance sheet at December 31, 2022 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. PMI 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 nine months ended September 30, 2023 and 2022. 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. Notes Issued by Securitization Trust are notes held by certain third-party investors pursuant to Prosper’s securitization transaction, and are distinguishable from the borrower payment dependent Notes available to investors through the Company’s Note Channel.
Fair Value Measurements	Fair Value Measurements Financial instruments measured at fair value consist principally of Borrower Loans (Note 7), Loans Held for Sale (Note 4), Servicing Assets (Note 6), Credit Card Derivative (Note 5), Loan Trailing Fee Liabilities (Note 10), Debt (Note 11) and Convertible Preferred Stock Warrant Liability (Note 13). 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 Term Loan and Warehouse Lines (Note 11) do not approximate their carrying values due primarily to differences in the stated and market rates associated with these instruments.
Restricted Cash	Restricted CashRestricted cash consists primarily of cash deposits, money market funds and short-term certificate of deposit accounts held as collateral as required for loan funding and servicing activities, and cash that investors or Prosper have on the marketplace that has not yet been invested in Borrower Loans or disbursed to the investor.
Borrower Loans, Loans Held for Sale and Notes	Borrower Loans, Loans Held for Sale and Notes 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. 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 11, Debt for more details on Warehouse Lines. In September 2023, Prosper closed a securitization transaction (the “PMIT 2023-1 Transaction”) with personal loans previously funded through its PWIIT Warehouse Line. The newly formed securitization entity, PMIT 2023-1, issued notes acquired by third parties and residual certificates acquired by PMI (a majority owned affiliate of PFL, the sole sponsor of the securitization). PMIT 2023-1 is deemed a consolidated VIE, and as a result the Borrower Loans it holds are presented in “Borrower Loans, at Fair Value,” and the notes sold to third-party investors are included in “Notes Issued by Securitization Trust” on the accompanying condensed consolidated balance sheet. See Note 7, Securitizations , for additional disclosures. 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 and Notes. 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 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 and Notes are included in Change in Fair Value of Financial Instruments on the accompanying condensed consolidated statements of operations. Prosper 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.
Credit Card Derivative	Credit Card Derivative The Company evaluated the terms of the Credit Card program agreement (the “Credit Card Program Agreement”) with Coastal Community Bank (“Coastal”) and determined that it contained features that met the definition of derivatives under Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging . These features are freestanding financial instruments (as defined under ASC 480, Distinguishing Liabilities from Equity ), and have been valued separately as derivatives. A right of offset exists between the derivatives, and they are presented net on the accompanying consolidated balance sheets. Changes in the fair value of the Credit Card Derivative, as well as settled transactions from the Credit Card portfolio, are recorded in Change in Fair Value of Financial Instruments on the accompanying Condensed Consolidated Statements of Operations. In August 2023, the Company executed an amendment to the Credit Card Program Agreement that, among other things, (a) increased the maximum outstanding Credit Card principal balance for Prosper Allocations from $200 million to $300 million, (b) funded a cash reserve account in the name of Coastal in connection with charge-off losses on receivables allocated to the Prosper, and (c) clarified various items from the original program agreement. As a result of (b), the Company reclassified approximately $9.3 million in Restricted Cash held in the reserve account to Prepaid and Other Assets on the accompanying condensed consolidated balance sheet. Refer to Note 5, Credit Card, for additional details on revenues and expenses related to the Credit Card product.
Term Loan	Term Loan Prosper entered into a Credit Agreement, which provided for a Term Loan with a third-party financial institution in November 2022, which is more fully described in Note 11. This Term Loan is carried at amortized cost, net of discounts and issuance costs, which are subsequently amortized to Interest Expense on Term Loan over the life of the underlying agreement. Interest Expense on Term Loan is presented as a component of Expenses on the accompanying condensed consolidated statements of operations, except for any portion associated with Term Loan proceeds used to purchase Loans Held for Sale through the Company’s Warehouse Lines, which is presented in Interest Expense on Financial Instruments as a component of Net Interest Income on the accompanying condensed consolidated statement of operations.
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 Condensed 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 or deconsolidate such VIE in the consolidated financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements 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. The optional guidance, which became effective on March 12, 2020, could be applied through December 31, 2022. In December 2022, the FASB issued No 2022-06 extending the sunset date of the relief provided under ASU No. 2020-04 to December 31, 2024. The Company amended its agreements and transitioned to SOFR for contracts that previously referenced LIBOR. The Company continues to evaluate potential future impacts that may result from the discontinuation of LIBOR or other reference rates as well as the accounting provided in this update on our financial condition, results of operations, and cash flows .
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, 2022. The balance sheet at December 31, 2022 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 nine months ended September 30, 2023 and 2022. 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 and Notes	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)	9 Months Ended
	Sep. 30, 2023
Entity Information [Line Items]
Schedule of Property and Equipment	Property and Equipment consists of the following at the dates presented (in thousands): September 30, 2023 December 31, 2022 Internal-use software and website development costs $ 56,250 $ 49,818 Operating lease right-of-use assets 23,548 27,051 Computer equipment 10,384 13,444 Leasehold improvements 6,827 7,157 Office equipment and furniture 2,935 2,810 Assets not yet placed in service 9,334 5,877 Property and equipment 109,278 106,157 Less: Accumulated depreciation and amortization (68,148) (67,343) Total Property and Equipment, Net $ 41,130 $ 38,814
Prosper Funding LLC
Entity Information [Line Items]
Schedule of Property and Equipment	Property and equipment consist of the following as of the dates presented (in thousands): September 30, 2023 December 31, 2022 Internal-use software and web site development costs $ 42,279 $ 37,428 Less: accumulated depreciation and amortization (31,337) (27,424) Total property and equipment, net $ 10,942 $ 10,004

BORROWER LOANS, LOANS HELD FO_2

BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2023
Entity Information [Line Items]
Schedule 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 September 30, 2023 and December 31, 2022, are presented in the following table (in thousands): Borrower Loans Loans Held for Sale Notes September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Aggregate principal balance and interest outstanding $ 623,466 $ 333,294 $ 201,456 $ 512,076 $ 351,465 $ 336,555 Fair value adjustments (31,237) (12,652) (9,890) (12,311) (21,864) (17,851) Fair value $ 592,229 $ 320,642 $ 191,566 $ 499,765 $ 329,601 $ 318,704
Prosper Funding LLC
Entity Information [Line Items]
Schedule of Borrower Loans, Notes and Loans Held for Sale	The aggregate principal balances outstanding and fair values of Borrower Loans and Notes as of September 30, 2023 and December 31, 2022, are presented in the following table (in thousands): Borrower Loans Notes September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Aggregate principal balance outstanding and interest outstanding $ 356,328 $ 333,294 $ 351,465 $ 336,555 Fair value adjustments (21,185) (12,652) (21,864) (17,851) Fair value $ 335,143 $ 320,642 $ 329,601 $ 318,704

FAIR VALUE OF ASSETS AND LIAB_2

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2023
Entity Information [Line Items]
Schedule of 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): September 30, 2023 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Loans Held for Sale at Fair Value $ — $ — $ 191,566 $ 191,566 Borrower Loans, at Fair Value — — 592,229 592,229 SOFR rate swaption (Note 11) — 797 — 797 Servicing Assets — — 13,110 13,110 Credit Card Derivative (Note 5) — — 28,066 28,066 Total Assets $ — $ 797 $ 824,971 $ 825,768 Liabilities: Notes, at Fair Value $ — $ — $ 329,601 $ 329,601 Convertible Preferred Stock Warrant Liability — — 210,776 210,776 Loan Trailing Fee Liability (Note 10) — — 3,182 3,182 Credit Card servicing obligation liability (Note 5) — — 7,584 7,584 Total Liabilities $ — $ — $ 551,143 $ 551,143 December 31, 2022 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Loans Held for Sale at Fair Value $ — $ — $ 499,765 $ 499,765 Borrower Loans, at Fair Value — — 320,642 320,642 LIBOR rate swaption (Note 11) — 1,289 — 1,289 Servicing Assets — — 12,562 12,562 Credit Card Derivative (Note 5) $ — $ — 10,782 10,782 Total Assets $ — $ 1,289 $ 843,751 $ 845,040 Liabilities: Notes, at Fair Value $ — $ — $ 318,704 $ 318,704 Convertible Preferred Stock Warrant Liability — — 166,346 166,346 Loan Trailing Fee Liability (Note 10) — — 3,290 3,290 Credit Card servicing obligation liability (Note 5) $ — $ — 3,720 3,720 Total Liabilities $ — $ — $ 492,060 $ 492,060
Schedule of 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 September 30, 2023 and December 31, 2022: Range Borrower Loans, Loans Held for Sale and Notes: September 30, 2023 December 31, 2022 Discount rate 6.4% - 13.7% 5.4% - 13.2% Default rate 1.5% - 18.9% 1.8% - 18.7% Range Servicing Assets: September 30, 2023 December 31, 2022 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.8% - 19.1% 2.0% - 19.3% Prepayment rate 11.2% - 29.7% 14.2% - 28.0% Market servicing rate (1) (2) 0.633% - 0.842% 0.648% - 0.842% (1) Servicing assets associated with loans enrolled in a relief program offered by the Company as of September 30, 2023 and December 31, 2022 were measured using a market servicing rate assumptio n of 84.2 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. (2) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of September 30, 2023 and December 31, 2022, the market rate for collection fees and non-sufficient fund fees was assumed to be 6 basis points and 6 basis points, respectively, for a total market servicing rate range of 69.3 - 90.2 basis points and 70.8 - 90.2 basis points, respectively. Range Loan Trailing Fee Liability: September 30, 2023 December 31, 2022 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.8% - 19.1% 2.0% - 19.3% Prepayment rate 11.2% - 29.7% 14.2% - 28.0%
Schedule of 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 (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, 2023 $ 320,642 $ 499,765 $ (318,704) $ 501,703 Purchase of Borrower Loans/Issuance of Notes 182,119 1,527,549 (180,012) 1,529,656 Principal repayments (140,520) (190,303) 141,625 (189,198) Borrower Loans sold to third parties (3,280) (1,349,067) — (1,352,347) Other changes 2,850 (2,189) (619) 42 Change in fair value (29,233) (34,538) 28,109 (35,662) Transfer of Loans Held for Sale to Borrower Loans upon PMIT 2023-1 Transaction, at Fair Value 259,651 (259,651) — — Balance at September 30, 2023 $ 592,229 $ 191,566 $ (329,601) $ 454,194 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at January 1, 2022 $ 267,626 $ 243,170 $ (265,985) $ 244,811 Purchase of Borrower Loans/Issuance of Notes 214,271 2,271,312 (214,107) 2,271,476 Principal repayments (156,706) (130,667) 158,105 (129,268) Borrower Loans sold to third parties (1,326) (1,969,647) — (1,970,973) Other changes 216 936 (320) 832 Change in fair value (21,110) (16,895) 21,228 (16,777) Balance at September 30, 2022 $ 302,971 $ 398,209 $ (301,079) $ 400,101 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held For Sale Notes Total Balance at July 1, 2023 $ 334,259 $ 517,781 $ (330,747) $ 521,293 Purchase of Borrower Loans/Issuance of Notes 56,323 428,688 (56,468) 428,543 Principal repayments (48,158) (61,048) 47,759 (61,447) Borrower Loans sold to third parties (1,326) (420,494) — (421,820) Other changes 2,654 (2,763) (359) (468) Change in fair value (11,174) (10,947) 10,214 (11,907) Transfer of Loans Held for Sale to Borrower Loans upon PMIT 2023-1 Transaction, at Fair Value 259,651 (259,651) — — Balance at September 30, 2023 $ 592,229 $ 191,566 $ (329,601) $ 454,194 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held For Sale Notes Total Balance at July 1, 2022 $ 301,893 $ 312,693 $ (300,521) $ 314,065 Purchase of Borrower Loans/Issuance of Notes 70,486 978,664 (69,797) 979,353 Principal repayments (59,750) (47,487) 60,375 (46,862) Borrower Loans sold to third parties (502) (838,774) — (839,276) Other changes 64 575 (207) 432 Change in fair value (9,220) (7,462) 9,071 (7,611) Balance at September 30, 2022 $ 302,971 $ 398,209 $ (301,079) $ 400,101
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 nine month periods ending September 30, 2023 and 2022 (in thousands): Servicing Assets Balance at January 1, 2023 $ 12,562 Additions 7,157 Less: Changes in fair value (6,609) Balance at September 30, 2023 $ 13,110 Servicing Assets Balance at January 1, 2022 $ 8,761 Additions 9,888 Less: Changes in fair value (6,380) Balance at September 30, 2022 $ 12,269 Servicing Assets Balance at July 1, 2023 $ 12,833 Additions 2,290 Less: Changes in fair value (2,013) Balance at September 30, 2023 $ 13,110 Servicing Assets Balance at July 1, 2022 $ 10,323 Additions 4,211 Less: Changes in fair value (2,265) Balance at September 30, 2022 $ 12,269 The following tables present additional information about the Level 3 Credit Card derivative measured at fair value on a recurring basis for the three and nine month periods ending September 30, 2023 and 2022 (in thousands): Credit Card Derivative Balance at January 1, 2023 $ 10,782 Changes in fair value 17,284 Net losses from settled transactions (270) Add: Net payments made 270 Balance at September 30, 2023 $ 28,066 Credit Card Derivative Balance at January 1, 2022 $ 7 Changes in fair value 6,839 Net gains from settled transactions 2,355 Add: Net payments made (1,364) Balance at September 30, 2022 $ 7,837 Credit Card Derivative Balance at July 1, 2023 $ 19,542 Changes in fair value 8,524 Net gains from settled transactions 749 Less: Net payments received (749) Balance at September 30, 2023 $ 28,066 Credit Card Derivative Balance at July 1, 2022 $ 4,861 Changes in fair value 2,976 Net gains from settled transactions 1,779 Add: Net payments made (1,779) Balance at September 30, 2022 $ 7,837 The following tables present additional information ab out the Level 3 Credit Card servicing obligation liability measured at fair value on a recurring basis for the three and nine month periods ending September 30, 2023 and 2022 (in thousands): Credit Card Servicing Obligation Liability Fair Value at January 1, 2023 $ 3,720 Change in fair value 3,864 Balance at September 30, 2023 $ 7,584 Credit Card Servicing Obligation Liability Fair Value at January 1, 2022 $ — Change in fair value 2,381 Balance at September 30, 2022 $ 2,381 Credit Card Servicing Obligation Liability Fair Value at July 1, 2023 $ 5,769 Change in fair value 1,815 Balance at September 30, 2023 $ 7,584 Credit Card Servicing Obligation Liability Fair Value at July 1, 2022 $ 1,246 Change in fair value 1,135 Balance at September 30, 2022 $ 2,381 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 three and nine month periods ending September 30, 2023 and 2022 (in thousands): Convertible Preferred Stock Warrant Liability Balance as of January 1, 2023 $ 166,346 Change in fair value 44,430 Balance as of September 30, 2023 $ 210,776 Convertible Preferred Stock Warrant Liability Balance as of January 1, 2022 $ 250,941 Change in fair value (88,860) Balance as of September 30, 2022 $ 162,081 Convertible Preferred Stock Warrant Liability Balance as of July 1, 2023 $ 194,070 Change in fair value 16,706 Balance as of September 30, 2023 $ 210,776 Convertible Preferred Stock Warrant Liability Balance as of July 1, 2022 $ 173,455 Change in fair value (11,374) Balance as of September 30, 2022 $ 162,081
Schedule of Level 3 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 three and nine month periods ending September 30, 2023 and 2022 (in thousands): Loan Trailing Fee Liability Balance at January 1, 2023 $ 3,290 Issuances 1,596 Cash Payment of Loan Trailing Fee (2,111) Change in Fair Value 407 Balance at September 30, 2023 $ 3,182 Loan Trailing Fee Liability Balance at January 1, 2022 $ 2,161 Issuances 2,286 Cash Payment of Loan Trailing Fee (1,485) Change in Fair Value 100 Balance at September 30, 2022 $ 3,062 Loan Trailing Fee Liability Balance at July 1, 2023 $ 3,294 Issuances 464 Cash Payment of Loan Trailing Fee (705) Change in Fair Value 129 Balance at September 30, 2023 $ 3,182 Loan Trailing Fee Liability Balance at July 1, 2022 $ 2,574 Issuances 964 Cash Payment of Loan Trailing Fee (475) Change in Fair Value (1) Balance at September 30, 2022 $ 3,062
Schedule of Fair Value Assumptions	Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2023 and December 31, 2022 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 September 30, 2023 December 31, 2022 Fair value, using the following assumptions: $ 783,795 $ 820,407 Weighted-average discount rate 8.58 % 6.72 % Weighted-average default rate 9.97 % 9.31 % Fair value resulting from: 100 basis point increase in discount rate $ 776,132 $ 812,061 200 basis point increase in discount rate $ 768,658 $ 803,927 Fair value resulting from: 100 basis point decrease in discount rate $ 791,653 $ 828,975 200 basis point decrease in discount rate $ 799,716 $ 837,773 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 774,954 $ 810,657 Applying a 1.2 multiplier to default rate $ 766,182 $ 800,989 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 792,699 $ 830,238 Applying a 0.8 multiplier to default rate $ 801,672 $ 840,156 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2023 and December 31, 2022 for Notes are presented in the following table (in thousands, except percentages). Notes September 30, 2023 December 31, 2022 Fair value, using the following assumptions: $ 329,601 $ 318,704 Weighted-average discount rate 8.60 % 6.87 % Weighted-average default rate 11.99 % 11.36 % Fair value resulting from: 100 basis point increase in discount rate $ 326,374 $ 315,456 200 basis point increase in discount rate $ 323,226 $ 312,291 Fair value resulting from: 100 basis point decrease in discount rate $ 332,911 $ 322,037 200 basis point decrease in discount rate $ 336,308 $ 325,461 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 325,854 $ 314,892 Applying a 1.2 multiplier to default rate $ 322,136 $ 311,112 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 333,376 $ 322,547 Applying a 0.8 multiplier to default rate $ 337,179 $ 326,425
Schedule Of Estimated Fair Value Of Sensitivity Assets And Liabilities	Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2023 and December 31, 2022 for Servicing Assets is presented in the following table (in thousands, except percentages). Servicing Assets September 30, 2023 December 31, 2022 Fair value, using the following assumptions $ 13,110 $ 12,562 Weighted-average market servicing rate 0.65 % 0.65 % Weighted-average prepayment rate 18.43 % 18.47 % Weighted-average default rate 13.25 % 13.38 % Fair value resulting from: Market servicing rate increase of 0.025% $ 12,277 $ 11,708 Market servicing rate decrease of 0.025% $ 13,943 $ 13,415 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 12,824 $ 12,286 Applying a 0.9 multiplier to prepayment rate $ 13,401 $ 12,842 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 12,876 $ 12,305 Applying a 0.9 multiplier to default rate $ 13,345 $ 12,820 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2023 and December 31, 2022 for Credit Card servicing obligation liability is presented in the following table (in thousands, except percentages). Credit Card servicing obligation liability: September 30, 2023 December 31, 2022 Fair value, using the following assumptions: $ 7,584 $ 3,720 Discount rate on Credit Card portfolio servicing obligation 8.86 % 9.26 % Prepayment rate applied to Credit Card portfolio 8.79 % 10.08 % Default rate applied to Credit Card portfolio 14.37 % 13.34 % Market servicing rate 2.00 % 2.00 % Fair value resulting from: Market servicing rate increase of 0.10% $ 7,989 $ 3,919 Market servicing rate decrease of 0.10% $ 7,179 $ 3,521 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 7,481 $ 3,662 Applying a 0.9 multiplier to prepayment rate $ 7,687 $ 3,779 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 7,396 $ 3,636 Applying a 0.9 multiplier to default rate $ 7,776 $ 3,806
Schedule of Derivative Assets Measured at Fair Value	Credit Card Derivative September 30, 2023 December 31, 2022 Fair value, based on the following notional amount and rate assumptions: $ 28,066 $ 10,782 Prosper Allocations outstanding 206,748 102,392 Discount rate on Prosper Allocations 24.69 % 26.23 % Discount rate on Coastal Program Fee 8.86 % 9.26 % Prepayment rate applied to Credit Card portfolio 8.79 % 10.08 % Default rate applied to Credit Card portfolio 14.37 % 13.34 % Fair value resulting from: 100 basis point increase in both discount rates $ 27,781 $ 10,699 200 basis point increase in both discount rates $ 27,503 $ 10,618 Fair value resulting from: 100 basis point decrease in both discount rates $ 28,357 $ 10,866 200 basis point decrease in both discount rates $ 28,655 $ 10,951 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 27,686 $ 10,625 Applying a 0.9 multiplier to prepayment rate $ 28,451 $ 10,942 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 22,475 $ 8,001 Applying a 0.9 multiplier to default rate $ 33,822 $ 13,641
Schedule of 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): September 30, 2023 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and Cash Equivalents $ 39,524 $ 39,524 $ — $ — $ 39,524 Restricted Cash - Cash and Cash Equivalents 94,818 94,818 — — 94,818 Restricted Cash - Certificates of Deposit 3,028 — 3,028 — 3,028 Accounts Receivable 5,959 — 5,959 — 5,959 Total Assets $ 143,329 $ 134,342 $ 8,987 $ — $ 143,329 Liabilities: Accounts Payable and Accrued Liabilities $ 37,532 $ — $ 37,532 $ — $ 37,532 Payable to Investors 62,698 — 62,698 — 62,698 Notes Issued by Securitization Trust 248,335 — 254,975 — 254,975 Warehouse Lines 188,881 — 187,584 — 187,584 Term Loan (Note 11) 74,799 — 77,411 — 77,411 Total Liabilities $ 612,245 $ — $ 620,200 $ — $ 620,200 December 31, 2022 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and Cash Equivalents $ 83,446 $ 83,446 $ — $ — $ 83,446 Restricted Cash - Cash and Cash Equivalents 108,284 108,284 — — 108,284 Restricted Cash - Certificates of Deposit 4,879 — 4,879 — 4,879 Accounts Receivable 3,462 — 3,462 — 3,462 Total Assets $ 200,071 $ 191,730 $ 8,341 $ — $ 200,071 Liabilities: Accounts Payable and Accrued Liabilities $ 37,254 $ — $ 37,254 $ — $ 37,254 Payable to Investors 85,312 — 85,312 — 85,312 Warehouse Lines 446,762 — 444,329 — 444,329 Term Loan (Note 11) 73,407 — 76,191 — 76,191 Total Liabilities $ 642,735 $ — $ 643,086 $ — $ 643,086
Prosper Funding LLC
Entity Information [Line Items]
Schedule of 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): September 30, 2023 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 335,143 $ 335,143 Servicing Assets — — 15,340 15,340 Total Assets $ — $ — $ 350,483 $ 350,483 Liabilities: Notes, at Fair Value $ — $ — $ 329,601 $ 329,601 Loan Trailing Fee Liability — — 3,182 3,182 Total Liabilities $ — $ — $ 332,783 $ 332,783 December 31, 2022 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 320,642 $ 320,642 Servicing Assets — — 14,860 14,860 Total Assets $ — $ — $ 335,502 $ 335,502 Liabilities: Notes, at Fair Value $ — $ — $ 318,704 $ 318,704 Loan Trailing Fee Liability — — 3,290 3,290 Total Liabilities $ — $ — $ 321,994 $ 321,994
Schedule of 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 September 30, 2023 December 31, 2022 Discount rate 7.1% - 13.5% 5.6% - 12.9% Default rate 1.8% - 18.7% 1.8% - 18.2% Range Servicing Assets September 30, 2023 December 31, 2022 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.5% - 19.1% 2.0% - 19.3% Prepayment rate 11.2% - 30.1% 14.2% - 28.0% Market servicing rate (1) (2) 0.633% - 0.842% 0.648% - 0.842% (1) Servicing assets associated with loa ns enrolled in a relief program offered by the Company as of September 30, 2023 and December 31, 2022 were measured using a market servicing rate assumption of 84.2 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 . (2 ) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of September 30, 2023 and December 31, 2022, the market rate for collection fees and non-sufficient fund fees was assumed to be 6 basis points and 6 basis points, respectively, for a total market servicing rate range of 69.3 - 90.2 basis points and a total market servicing rate of 70.8 - 90.2 basis points, respectively. Range Loan Trailing Fee Liability September 30, 2023 December 31, 2022 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.5% - 19.1% 2.0% - 19.3% Prepayment rate 11.2% - 30.1% 14.2% - 28.0%
Schedule of 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 (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, 2023 $ 320,642 $ — $ (318,704) $ 1,938 Originations 182,119 1,527,549 (180,012) 1,529,656 Borrower Loans contributed by Parent, at Fair Value 2,010 — — 2,010 Principal repayments (139,434) — 141,625 2,191 Borrower Loans sold to third parties (3,331) (1,527,549) — (1,530,880) Other changes 790 — (619) 171 Change in fair value (27,653) — 28,109 456 Balance at September 30, 2023 $ 335,143 $ — $ (329,601) $ 5,542 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at January 1, 2022 $ 267,626 $ — $ (265,985) $ 1,641 Originations 214,271 2,271,312 (214,107) 2,271,476 Principal repayments (156,706) — 158,105 1,399 Borrower Loans sold to third parties (1,326) (2,271,312) — (2,272,638) Other changes 216 — (320) (104) Change in fair value (21,110) — 21,228 118 Balance at September 30, 2022 $ 302,971 $ — $ (301,079) $ 1,892 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at July 1, 2023 $ 334,259 $ — $ (330,747) $ 3,512 Originations 56,323 428,688 (56,468) 428,543 Borrower Loans contributed by Parent, at Fair Value 2,010 — — 2,010 Principal repayments (47,072) — 47,759 687 Borrower Loans sold to third parties (1,326) (428,688) — (430,014) Other changes 543 — (359) 184 Change in fair value (9,594) — 10,214 620 Balance at September 30, 2023 $ 335,143 $ — $ (329,601) $ 5,542 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at July 1, 2022 $ 301,893 $ — $ (300,521) $ 1,372 Originations 70,486 978,664 (69,797) 979,353 Principal repayments (59,750) — 60,375 625 Borrower Loans sold to third parties (502) (978,664) — (979,166) Other changes 64 — (207) (143) Change in fair value (9,220) — 9,071 (149) Balance at September 30, 2022 $ 302,971 $ — $ (301,079) $ 1,892
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 Balance as of January 1, 2023 $ 14,860 Additions 8,070 Less: Changes in fair value (7,590) Balance as of September 30, 2023 $ 15,340 Servicing Assets Balance as of January 1, 2022 $ 9,796 Additions 11,383 Less: Changes in fair value (7,105) Balance as of September 30, 2022 $ 14,074 Servicing Assets Balance as of July 1, 2023 $ 15,148 Additions 2,346 Less: Changes in fair value (2,154) Balance as of September 30, 2023 $ 15,340 Servicing Assets Balance as of July 1, 2022 $ 11,699 Additions 4,903 Less: Changes in fair value (2,528) Balance as of September 30, 2022 $ 14,074 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 Balance as of January 1, 2023 $ 3,290 Issuances 1,596 Cash payment of Loan Trailing Fee (2,111) Change in fair value 407 Balance as of September 30, 2023 $ 3,182 Loan Trailing Fee Liability Balance as of January 1, 2022 $ 2,161 Issuances 2,286 Cash payment of Loan Trailing Fee (1,485) Change in fair value 100 Balance as of September 30, 2022 $ 3,062 Loan Trailing Fee Liability Balance as of July 1, 2023 $ 3,294 Issuances 464 Cash payment of Loan Trailing Fee (705) Change in fair value 129 Balance as of September 30, 2023 $ 3,182 Loan Trailing Fee Liability Balance as of July 1, 2022 $ 2,574 Issuances 964 Cash payment of Loan Trailing Fee (475) Change in fair value (1) Balance as of September 30, 2022 $ 3,062
Schedule of Fair Value Assumptions	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 September 30, 2023 and December 31, 2022 for Borrower Loans are presented in the following table (in thousands, except percentages). Borrower Loans: September 30, 2023 December 31, 2022 Fair value, using the following assumptions: $ 335,143 $ 320,642 Weighted-average discount rate 8.60 % 6.87 % Weighted-average default rate 11.99 % 11.36 % Fair value resulting from: 100 basis point increase in discount rate $ 331,868 $ 317,380 200 basis point increase in discount rate $ 328,673 $ 314,201 Fair value resulting from: 100 basis point decrease in discount rate $ 338,505 $ 323,991 200 basis point decrease in discount rate $ 341,953 $ 327,429 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 331,365 $ 316,832 Applying a 1.2 multiplier to default rate $ 327,614 $ 313,053 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 338,953 $ 324,484 Applying a 0.8 multiplier to default rate $ 342,789 $ 328,361 Key economic assumptions are used to compute the fair value of Notes. The sensitivity of the fair value to immediate changes in assumptions at September 30, 2023 and December 31, 2022 for Notes funded through the Note Channel are presented in the following table (in thousands, except percentages). Notes September 30, 2023 December 31, 2022 Fair value, using the following assumptions: $ 329,601 $ 318,704 Weighted-average discount rate 8.60 % 6.87 % Weighted-average default rate 11.99 % 11.36 % Fair value resulting from: 100 basis point increase in discount rate $ 326,374 $ 315,456 200 basis point increase in discount rate $ 323,226 $ 312,291 Fair value resulting from: 100 basis point decrease in discount rate $ 332,911 $ 322,037 200 basis point decrease in discount rate $ 336,308 $ 325,461 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 325,854 $ 314,892 Applying a 1.2 multiplier to default rate $ 322,136 $ 311,112 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 333,376 $ 322,547 Applying a 0.8 multiplier to default rate $ 337,179 $ 326,425
Schedule Of Estimated Fair Value Of Sensitivity 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 September 30, 2023 and December 31, 2022 for Servicing Assets are presented in the following table (in thousands, except percentages). Servicing Assets September 30, 2023 December 31, 2022 Fair value, using the following assumptions: $ 15,340 $ 14,860 Weighted-average market servicing rate 0.651 % 0.649 % Weighted-average prepayment rate 18.79 % 18.77 % Weighted-average default rate 12.63 % 12.63 % Fair value resulting from: Market servicing rate increase of 0.025% $ 14,365 $ 13,850 Market servicing rate decrease of 0.025% $ 16,315 $ 15,870 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 15,005 $ 14,534 Applying a 0.9 multiplier to prepayment rate $ 15,680 $ 15,191 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 15,066 $ 14,557 Applying a 0.9 multiplier to default rate $ 15,615 $ 15,165

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)	9 Months Ended
	Sep. 30, 2023
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): September 30, 2023 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 (4,938) 112 1.6 Brand name 60 (60) — — Total Intangible Assets subject to amortization $ 8,170 $ (8,058) $ 112
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, 2023 (remainder thereof) $ 27 2024 85 Total $ 112

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2023
Other Liabilities [Abstract]
Schedule of Other Liabilities	Other Liabilities consist of the following (in thousands): September 30, 2023 December 31, 2022 Operating lease liabilities (Note 16) $ 15,123 $ 16,351 Deferred revenue 5,531 3,880 Credit Card servicing obligation liability (Note 5) 7,584 3,720 Loan trailing fee liability 3,182 3,290 Deferred income tax liability 658 658 Other 1,045 359 Total Other Liabilities $ 33,123 $ 28,258

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Income (Loss) Per Share	Basic and diluted net income (loss) per share were calculated as follows for the periods presented (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Numerator: Net (Loss) Income $ (31,043) $ 8,621 $ (92,903) $ 87,918 Less: Net Income Allocated to Participating Securities — (5,772) — (59,054) Net (Loss) Income Attributable to Common Stockholders $ (31,043) $ 2,849 $ (92,903) $ 28,864 Denominator: Weighted average shares used in computing basic net income (loss) per share 76,617,924 73,731,925 75,866,061 73,010,111 Effect of dilutive securities: Stock options — 54,551,659 — 61,828,654 Warrants — 410,837 — 600,194 Convertible preferred stock warrants — 213,264,845 — 213,264,845 Weighted average shares used in computing diluted Net Income (Loss) per Share 76,617,924 341,959,266 75,866,061 348,703,804 Net (Loss) Income Per Share – Basic $ (0.41) $ 0.04 $ (1.22) $ 0.40 Net (Loss) Income Per Share – Diluted $ (0.41) $ 0.01 $ (1.22) $ 0.08
Schedule of Dilutive Shares Excluded from the Diluted Net Income (Loss) Per Share Calculation	The following common stock equivalents were excluded from the computation of diluted net income (loss) per share for the periods presented because including them would have been anti-dilutive: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 (shares) (shares) (shares) (shares) Excluded securities: Convertible preferred stock issued and outstanding, excluding shares held by consolidated VIE 158,365,655 158,365,655 158,365,655 158,365,655 Stock options issued and outstanding 79,845,710 16,382,524 81,751,584 16,227,752 Warrants issued and outstanding 1,080,349 669,512 1,080,349 480,155 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 452,556,559 175,417,691 454,462,433 175,073,562

CONVERTIBLE PREFERRED STOCK, _2

CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK (Tables)	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule 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 September 30, 2023 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 preferred stock warrants utilizing the following assumptions as of the following dates: September 30, 2023 December 31, 2022 Volatility 68.0 % 72.0 % Risk-free interest rate 4.90 % 4.30 % 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: September 30, 2023 December 31, 2022 Volatility 68.0 % 72.0 % Risk-free interest rate 4.90 % 4.30 % Expected term (in years) 2.75 2.75 Dividend yield — % — %

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Summarized Option Activity under Option Plan	Stock option activity under the 2005 Plan and 2015 Plan is summarized for the nine months ended September 30, 2023 below: Options Issued and Outstanding Weighted Average Exercise Price Balance as of January 1, 2023 77,727,763 $ 0.13 Options issued 10,089,430 $ 0.33 Options exercised (2,410,623) $ 0.04 Options forfeited (2,898,908) $ 0.32 Options expired (39,125) $ 0.02 Balance as of September 30, 2023 82,468,537 $ 0.15 Options vested and expected to vest as of September 30, 2023 75,365,083 $ 0.15 Options vested and exercisable as of September 30, 2023 59,111,020 $ 0.08
Schedule of Fair Value of Stock Option Awards	The fair value of PMI’s stock option awards granted during the three and nine months ended September 30, 2023 and 2022 was estimated at the date of grant using the Black-Scholes model with the following average assumptions: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Volatility of common stock 67.08 % 68.09 % 66.63 % 67.08 % Risk-free interest rate 4.04 % 2.87 % 3.45 % 2.61 % Expected life (in years) 6.0 years 6.0 years 6.1 years 6.0 years Dividend yield — % — % — % — %
Schedule of Restricted Stock Unit	The following table summarizes the number of PMI’s RSU activity for nine months ended September 30, 2023: Number of Shares Weighted-Average Grant Date Fair Value Unvested at January 1, 2023 2,602,383 $ 1.04 Forfeited (2,250) $ 2.18 Unvested at September 30, 2023 2,600,133 $ 1.04
Schedule of 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 September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Origination and servicing $ 21 $ 36 $ 65 $ 98 Sales and marketing 98 215 201 417 General and administrative 294 245 919 780 Total stock-based compensation $ 413 $ 496 $ 1,185 $ 1,295

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Summary of Operating Lease Right-of-Use Assets	The following table summarizes the operating lease right-of-use assets as of September 30, 2023, which are included in “Property and Equipment, Net” on the condensed consolidated balance sheets. September 30, 2023 Gross Carrying Value Accumulated Amortization Net Carrying Value ROU Assets - Office buildings $ 21,600 $ 9,346 $ 12,254 Total right-of-use assets subject to amortization $ 21,600 $ 9,346 $ 12,254
Schedule of Future Minimum Lease Payments	Future maturities of operating lease liabilities as of September 30, 2023 were as follows (in thousands). The present value of the future minimum lease payments represents our operating lease liabilities as of September 30, 2023 and are included in " Other Liabilities September 30, 2023 Remainder of 2023 $ 1,204 2024 4,391 2025 4,517 2026 4,432 2027 3,311 Thereafter 1,411 Total future minimum lease payments $ 19,266 Less imputed interest (4,143) Present value of future minimum lease payments $ 15,123
Summary of Other Information Related to Leases	Other information related to leases was as follows (dollars in thousands): September 30, 2023 Weighted average remaining lease term (in years) 4.25 years Weighted average discount rate 11.20 %

RELATED PARTIES (Tables)

RELATED PARTIES (Tables)	9 Months Ended
	Sep. 30, 2023
Entity Information [Line Items]
Schedule of 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 nine months ended September 30, 2023 and 2022, as well as the Notes outstanding as of September 30, 2023 and December 31, 2022 are summarized below (in thousands): Aggregate Amount of Interest Earned on Notes Related Party 2023 2022 2023 2022 Executive officers and management $ 9 $ 9 $ 2 $ 2 Directors (excluding executive officers and management) — — — — Total $ 9 $ 9 $ 2 $ 2 Aggregate Amount of Interest Earned on Notes Related Party 2023 2022 2023 2022 Executive officers and management $ 26 $ 28 $ 6 $ 6 Directors (excluding executive officers and management) — — — 1 Total $ 26 $ 28 $ 6 $ 7 Notes Balance as of Related Party September 30, 2023 December 31, Executive officers and management $ 53 $ 52 Directors (excluding executive officers and management) 2 6 Total $ 55 $ 58
Prosper Funding LLC
Entity Information [Line Items]
Schedule of 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 three and nine months ended September 30, 2023 and 2022 are summarized below (in thousands): Aggregate Amount of Notes Purchased Interest Earned on Notes Three Months Ended September 30, Three Months Ended September 30, Related Party 2023 2022 2023 2022 Executive officers and management $ 8 $ 8 $ 2 $ 2 Directors (excluding executive officers and management) — — — — Total $ 8 $ 8 $ 2 $ 2 Aggregate Amount of Notes Purchased Interest Earned on Notes Nine Months Ended September 30, Nine Months Ended September 30, Related Party 2023 2022 2023 2022 Executive officers and management $ 23 $ 26 $ 6 $ 5 Directors (excluding executive officers and management) — — — — Total $ 23 $ 26 $ 6 $ 5 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 September 30, 2023 December 31, 2022 Executive officers and management $ 47 $ 45 Directors (excluding executive officers and management) — — Total $ 47 $ 45

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The tables below present segment information reconciled to consolidated Total Net Revenue and Net Income (Loss) Before Income Taxes, as well as interest income and expense included in segment Adjusted Net Revenue and Adjusted EBITDA, for the periods indicated (in thousands). Three Months Ended September 30, 2023 Personal Loan Home Equity Credit Card Total Total Net Revenue $ 20,686 $ 559 $ 11,955 $ 33,200 Impact of interest rates on fair value of loans held in consolidated trusts 1,023 — — 1,023 Accelerated amortization of PWIIT debt issuance costs 1,880 — — 1,880 Segment Adjusted Net Revenue $ 23,589 $ 559 $ 11,955 $ 36,103 Segment Adjusted EBITDA $ (9,159) $ (1,049) $ 4,150 $ (6,058) Depreciation expense: Origination and Servicing (2,060) General and Administration - Other (500) Amortization of intangibles (27) Stock-based compensation (413) Change in Fair Value of Convertible Preferred Stock Warrants (16,706) Impact of interest rates on fair value of loans held in consolidated trusts (1,023) Interest income on cash and cash equivalents 762 Interest Expense on Term Loan (3,202) Accelerated amortization of PWIIT debt issuance costs (1,880) Net Loss Before Income Taxes $ (31,107) Interest Income (Expense) Included in Segment Adjusted EBITDA Interest Income on Borrower Loans and Loans Held for Sale $ 29,388 $ — $ — $ 29,388 Interest Expense on Financial Instruments (25,208) — — (25,208) Accelerated amortization of PWIIT debt issuance costs 1,880 — — 1,880 Total Interest Income, Net $ 6,060 $ — $ — $ 6,060 Three Months Ended September 30, 2022 Personal Loan Home Equity Credit Card Total Total Net Revenue $ 53,755 $ 1,158 $ 5,497 $ 60,410 Impact of interest rates on fair value of loans held in consolidated trusts 4,721 — — 4,721 Segment Adjusted Net Revenue $ 58,476 $ 1,158 $ 5,497 $ 65,131 Segment Adjusted EBITDA $ 6,682 $ (117) $ (1,323) $ 5,242 Depreciation expense: Origination and Servicing (2,175) General and Administration - Other (674) Amortization of intangibles (34) Stock-based compensation (496) Change in Fair Value of Convertible Preferred Stock Warrants 11,374 Impact of interest rates on fair value of loans held in consolidated trusts (4,721) Interest income on cash and cash equivalents 125 Net Income Before Income Taxes $ 8,641 Interest Income (Expense) Included in Segment Adjusted EBITDA Interest Income on Borrower Loans and Loans Held for Sale $ 22,351 $ — $ — $ 22,351 Interest Expense on Financial Instruments (15,609) — — (15,609) Total Interest Income, Net $ 6,742 $ — $ — $ 6,742 Nine Months Ended September 30, 2023 Personal Loan Home Equity Credit Card Total Total Net Revenue $ 79,917 $ 1,216 $ 23,970 $ 105,103 Impact of interest rates on fair value of loans held in consolidated trusts 8,267 — — 8,267 Accelerated amortization of PWIIT debt issuance costs 1,880 — — 1,880 Segment Adjusted Net Revenue $ 90,064 $ 1,216 $ 23,970 $ 115,250 Segment Adjusted EBITDA (19,989) (2,813) 1,508 $ (21,294) Depreciation expense: Origination and Servicing (6,526) General and Administration - Other (1,616) Amortization of intangibles (81) Stock-based compensation (1,185) Change in Fair Value of Convertible Preferred Stock Warrants (44,430) Impact of interest rates on fair value of loans held in consolidated trusts (8,267) Interest income on cash and cash equivalents 1,475 Interest Expense on Term Loan (9,023) Accelerated amortization of PWIIT debt issuance costs (1,880) Net Loss Before Income Taxes $ (92,827) Interest Income (Expense) Included in Segment Adjusted EBITDA Interest Income on Borrower Loans and Loans Held for Sale $ 88,773 $ — $ — $ 88,773 Interest Expense on Financial Instruments (69,771) — — (69,771) Accelerated amortization of PWIIT debt issuance costs 1,880 — — 1,880 Total Interest Income, Net $ 20,882 $ — $ — $ 20,882 Nine Months Ended September 30, 2022 Personal Loan Home Equity Credit Card Total Total Net Revenue $ 141,846 $ 2,507 $ 9,911 $ 154,264 Impact of interest rates on fair value of loans held in consolidated trusts 10,056 — — 10,056 Segment Adjusted Net Revenue $ 151,902 $ 2,507 $ 9,911 $ 164,320 Segment Adjusted EBITDA 19,880 (1,250) (8,714) $ 9,916 Depreciation expense: Origination and Servicing (6,155) General and Administration - Other (1,961) Amortization of intangibles (102) Stock-based compensation (1,295) Change in Fair Value of Convertible Preferred Stock Warrants 88,860 Gain on Forgiveness of PPP Loan 8,604 Impact of interest rates on fair value of loans held in consolidated trusts (10,056) Interest income on cash and cash equivalents 167 Net Income Before Income Taxes $ 87,978 Interest Income (Expense) Included in Segment Adjusted EBITDA Interest Income on Borrower Loans and Loans Held for Sale $ 61,013 $ — $ — $ 61,013 Interest Expense on Financial Instruments (41,479) — — (41,479) Total Interest Income, Net $ 19,534 $ — $ — $ 19,534

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Credit Card Derivative (Details) - USD ($) $ in Thousands	1 Months Ended
	Aug. 31, 2023	Sep. 30, 2023	Jul. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Credit Card Derivative	$ 300,000	$ 28,066	$ 200,000	$ 10,782
Reclassification of Restricted Cash to Prepaid and Other Assets	$ 9,300

PROPERTY AND EQUIPMENT, NET - S

PROPERTY AND EQUIPMENT, NET - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
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	$ 109,278	$ 106,157
Less: Accumulated depreciation and amortization	(68,148)	(67,343)
Total Property and Equipment, Net	41,130	38,814
Prosper Funding LLC
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation and amortization	(31,337)	(27,424)
Total Property and Equipment, Net	10,942	10,004
Internal-use software and website development costs
Property, Plant and Equipment [Line Items]
Property and equipment	56,250	49,818
Internal-use software and website development costs | Prosper Funding LLC
Property, Plant and Equipment [Line Items]
Property and equipment	42,279	37,428
Operating lease right-of-use assets
Property, Plant and Equipment [Line Items]
Operating lease right-of-use assets	23,548	27,051
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment	10,384	13,444
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	6,827	7,157
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Property and equipment	2,935	2,810
Assets not yet placed in service
Property, Plant and Equipment [Line Items]
Property and equipment	$ 9,334	$ 5,877

PROPERTY AND EQUIPMENT, NET - A

PROPERTY AND EQUIPMENT, NET - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property, Plant and Equipment [Line Items]
Depreciation and Amortization			$ 8,223	$ 8,218
Prosper Funding LLC
Property, Plant and Equipment [Line Items]
Depreciation and Amortization	$ 1,500	$ 1,500	4,585	4,168
Property Plant And Equipment
Property, Plant and Equipment [Line Items]
Depreciation and Amortization	2,600	2,900	8,100	8,200
Internal-use software and website development costs
Property, Plant and Equipment [Line Items]
Capitalized internal-use software and website development costs	$ 4,500	$ 2,800	$ 11,200	$ 8,100

BORROWER LOANS, LOANS HELD FO_3

BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE - Fair Value of Borrower Loans and Notes (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2023	Dec. 31, 2022
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrower Loans, at Fair Value		$ 592,229	$ 320,642
Loans Held for Sale, at Fair Value	[1]	191,566	499,765
Notes, at Fair Value		329,601	318,704
Prosper Funding LLC
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrower Loans, at Fair Value		335,143	320,642
Notes, at Fair Value		329,601	318,704
Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Payable to Related Party		351,465	336,555
Notes, Fair value adjustments		(21,864)	(17,851)
Notes, at Fair Value		329,601	318,704
Notes | Prosper Funding LLC
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Payable to Related Party		351,465	336,555
Notes, Fair value adjustments		(21,864)	(17,851)
Notes, at Fair Value		329,601	318,704
Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrower Loans, Aggregate principal balance outstanding		623,466	333,294
Fair value adjustments		(31,237)	(12,652)
Borrower Loans, at Fair Value		592,229	320,642
Borrower Loans | Prosper Funding LLC
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrower Loans, Aggregate principal balance outstanding		356,328	333,294
Fair value adjustments		(21,185)	(12,652)
Borrower Loans, at Fair Value		335,143	320,642
Loans Held for Sale
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Loans Held for Sale, Aggregate principal balance outstanding		201,456	512,076
Fair value adjustments		(9,890)	(12,311)
Loans Held for Sale, at Fair Value		$ 191,566	$ 499,765
[1]Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.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. Refer to Note 7, Securitizations , and Note 11, Debt , to the notes to the condensed consolidated financial statements for additional information. September 30, 2023 December 31, 2022 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 26,498 $ 11,838 Loans Held for Sale, at Fair Value 191,566 499,765 Borrower Loans, at Fair Value 257,084 — Prepaid and Other Assets 1,830 3,210 Total assets of consolidated variable interest entities $ 476,978 $ 514,813 Liabilities of consolidated VIEs, included in total liabilities above: Notes Issued by Securitization Trust $ 248,335 $ — Warehouse Lines 188,881 446,762 Other liabilities 600 — Total liabilities of consolidated variable interest entities $ 437,816 $ 446,762

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		9 Months Ended		12 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Sep. 25, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Non accrual status past due date						120 days
Total interest income, net		$ 4,180	$ 6,742	$ 19,002	$ 19,534
Notes Issued by Securitization Trust	[1]	248,335		248,335		$ 0
VIE, Primary Beneficiary
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes Issued by Securitization Trust		248,335		$ 248,335		$ 0
VIE, Primary Beneficiary | Securtization Trust PMT 2023-1
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes Issued by Securitization Trust							$ 251,800
Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity term one, in months				24 months
Maturity term two, in months				36 months		36 months
Maturity term three, in months				48 months		48 months
Maturity term four, in months				60 months		60 months
Fixed interest rate, minimum				5.46%		5.31%
Fixed interest rate, maximum				33%		33%
Minimum number of days for which loans originated were delinquent				90 days		90 days
Fair value of loans originated		500		$ 500		$ 300
Loans in non-accrual status		500		500		300
Borrower Loans | 90 days or more past due
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal amount		3,800		$ 3,800		$ 2,700
Loans Held for Sale
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity term one, in months				24 months		24 months
Maturity term two, in months				36 months		36 months
Maturity term three, in months				48 months		48 months
Maturity term four, in months				60 months		60 months
Fixed interest rate, minimum				6%		5.31%
Fixed interest rate, maximum				33%		33%
Fair value of loans originated		200		$ 200		$ 200
Loans in non-accrual status		200		200		$ 200
Total interest income, net		14,800	10,700	$ 48,400	27,700
Minimum number of days for which loans held for sale were delinquent				90 days		90 days
Loans Held for Sale | 90 days or more past due
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal amount		1,700		$ 1,700		$ 2,100
Prosper Funding LLC
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total interest income, net		1,278	$ 834	$ 3,020	$ 2,283
Prosper Funding LLC | VIE, Primary Beneficiary | Securtization Trust PMT 2023-1
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes Issued by Securitization Trust							7,700
Debt fair value							$ 2,000
Prosper Funding LLC | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity term one, in months				24 months		24 months
Maturity term two, in months				36 months
Maturity term three, in months				48 months		48 months
Maturity term four, in months				60 months
Fixed interest rate, minimum				5.46%		5.31%
Fixed interest rate, maximum				33%		33%
Fair value of loans originated		500		$ 500		$ 300
Non accrual status past due date				120 days
Loans in non-accrual status		500		$ 500		300
Prosper Funding LLC | Borrower Loans | 90 days or more past due
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal amount		$ 3,800		$ 3,800		$ 2,700
Minimum | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months						24 months
Minimum | Prosper Funding LLC | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity term two, in months						36 months
Maximum | Prosper Funding LLC | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity term four, in months						60 months
[1]Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.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. Refer to Note 7, Securitizations , and Note 11, Debt , to the notes to the condensed consolidated financial statements for additional information. September 30, 2023 December 31, 2022 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 26,498 $ 11,838 Loans Held for Sale, at Fair Value 191,566 499,765 Borrower Loans, at Fair Value 257,084 — Prepaid and Other Assets 1,830 3,210 Total assets of consolidated variable interest entities $ 476,978 $ 514,813 Liabilities of consolidated VIEs, included in total liabilities above: Notes Issued by Securitization Trust $ 248,335 $ — Warehouse Lines 188,881 446,762 Other liabilities 600 — Total liabilities of consolidated variable interest entities $ 437,816 $ 446,762

CREDIT CARD (Details)

CREDIT CARD (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative [Line Items]
Various fees and charges	$ 5.2	$ 2.2	$ 12.8	$ 3.7
Servicing fee, percentage			1%
Change in fair value of servicing liability	(1.8)	1.1	$ (3.9)	2.4
Credit Card Derivative
Derivative [Line Items]
Revenue earned	8.5	3	17.3	6.8
Gain (loss) on settled transactions	$ 0.7	$ 1.8	$ (0.3)	$ 2.4

SERVICING ASSETS (Details)

SERVICING ASSETS (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Servicing Assets And Liabilities Fair Value [Line Items]
Loss on sale of borrower loans		$ 2,956	$ 1,145	$ 6,322	$ (3,886)
Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Loss on sale of borrower loans		2,891	346	5,227	(5,611)
Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Outstanding principle	$ 3,200,000	3,200,000		$ 3,200,000		$ 3,200,000
Maturity, in months						24 months
Maturity term one, in months				24 months
Maturity term two, in months				36 months		36 months
Maturity term three, in months				48 months		48 months
Maturity term four, in months				60 months		60 months
Fixed interest rate, minimum				5.31%		5.31%
Fixed interest rate, maximum				33%		33%
Contractually specified servicing fees, late charges and ancillary fees		7,700	7,800	$ 23,600	21,000
Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Outstanding principle	$ 3,700,000	3,600,000		$ 3,600,000		$ 3,700,000
Fixed interest rate, minimum	5.31%			5.31%
Fixed interest rate, maximum	33%			33%
Contractually specified servicing fees, late charges and ancillary fees		$ 10,000	$ 9,100	$ 41,800	$ 24,100
Servicing Assets | Prosper Funding LLC | Minimum
Servicing Assets And Liabilities Fair Value [Line Items]
Maturity term one, in months	24 months			24 months
Maturity term two, in months	36 months
Maturity term three, in months	48 months			48 months
Servicing Assets | Prosper Funding LLC | Maximum
Servicing Assets And Liabilities Fair Value [Line Items]
Maturity term two, in months				36 months
Maturity term four, in months	60 months			60 months

SECURITIZATIONS (Details)

SECURITIZATIONS (Details) $ in Thousands		Sep. 30, 2023 USD ($)		Sep. 25, 2023 USD ($) class	Aug. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)		Sep. 30, 2022 USD ($)
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust	[1]	$ 248,335				$ 0
Borrower Loans, at Fair Value		592,229				320,642
Restricted Cash		97,846	[1]	$ 11,500		113,163	[1]	$ 159,323
VIE, Primary Beneficiary
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust		248,335				0
Borrower Loans, at Fair Value		257,084				0
Restricted Cash		$ 26,498				$ 11,838
VIE, Primary Beneficiary | Securtization Trust PMT 2023-1
Variable Interest Entity [Line Items]
Securitization amount				$ 266,100	$ 275,900
Number of classes issued | class				5
Notes Issued by Securitization Trust				$ 251,800
Unamortized debt issuance costs				800
Debt issuance costs				2,700
Borrower Loans, at Fair Value				265,000
Restricted Cash				15,000
VIE, Primary Beneficiary | 2023-1, Class A Notes
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust				$ 165,500
Interest rate				0.0706
VIE, Primary Beneficiary | 2023-1, Class B Notes
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust				$ 25,400
Interest rate				0.0748
VIE, Primary Beneficiary | 2023-1, Class C Notes
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust				$ 25,100
Interest rate				0.0829
VIE, Primary Beneficiary | 2023-1, Class D Notes
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust				$ 22,300
Interest rate				0.1124
VIE, Primary Beneficiary | 2023-1, Class E Notes
Variable Interest Entity [Line Items]
Notes Issued by Securitization Trust				$ 13,100
Interest rate				0.1549
[1]Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.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. Refer to Note 7, Securitizations , and Note 11, Debt , to the notes to the condensed consolidated financial statements for additional information. September 30, 2023 December 31, 2022 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 26,498 $ 11,838 Loans Held for Sale, at Fair Value 191,566 499,765 Borrower Loans, at Fair Value 257,084 — Prepaid and Other Assets 1,830 3,210 Total assets of consolidated variable interest entities $ 476,978 $ 514,813 Liabilities of consolidated VIEs, included in total liabilities above: Notes Issued by Securitization Trust $ 248,335 $ — Warehouse Lines 188,881 446,762 Other liabilities 600 — Total liabilities of consolidated variable interest entities $ 437,816 $ 446,762

FAIR VALUE OF ASSETS AND LIAB_3

FAIR VALUE OF ASSETS AND LIABILITIES - Fair Value Hierarchy (Details) - USD ($) $ in Thousands		Sep. 30, 2023	Aug. 31, 2023	Jul. 31, 2023	Dec. 31, 2022
Assets:
Loans Held for Sale, at Fair Value	[1]	$ 191,566			$ 499,765
Borrower Loans, at Fair Value		592,229			320,642
SOFR rate swaption (Note 11)		797			1,289
Servicing Assets		13,110			12,562
Credit Card Derivative		28,066	$ 300,000	$ 200,000	10,782
Total Assets		825,768			845,040
Liabilities:
Notes, at Fair Value		329,601			318,704
Convertible Preferred Stock Warrant Liability		210,776			166,346
Loan Trailing Fee Liability (Note 10)		3,182			3,290
Credit Card servicing obligation liability (Note 5)		7,584			3,720
Total Liabilities		551,143			492,060
Prosper Funding LLC
Assets:
Borrower Loans, at Fair Value		335,143			320,642
Servicing Assets		15,340			14,860
Total Assets		350,483			335,502
Liabilities:
Notes, at Fair Value		329,601			318,704
Loan Trailing Fee Liability (Note 10)		3,182			3,290
Total Liabilities		332,783			321,994
Level 1 Inputs
Assets:
Loans Held for Sale, at Fair Value		0			0
Borrower Loans, at Fair Value		0			0
SOFR rate swaption (Note 11)		0			0
Servicing Assets		0			0
Credit Card Derivative		0			0
Total Assets		0			0
Liabilities:
Notes, at Fair Value		0			0
Convertible Preferred Stock Warrant Liability		0			0
Loan Trailing Fee Liability (Note 10)		0			0
Credit Card servicing obligation liability (Note 5)		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 (Note 10)		0			0
Total Liabilities		0			0
Level 2 Inputs
Assets:
Loans Held for Sale, at Fair Value		0			0
Borrower Loans, at Fair Value		0			0
SOFR rate swaption (Note 11)		797			1,289
Servicing Assets		0			0
Credit Card Derivative		0			0
Total Assets		797			1,289
Liabilities:
Notes, at Fair Value		0			0
Convertible Preferred Stock Warrant Liability		0			0
Loan Trailing Fee Liability (Note 10)		0			0
Credit Card servicing obligation liability (Note 5)		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 (Note 10)		0			0
Total Liabilities		0			0
Level 3 Inputs
Assets:
Loans Held for Sale, at Fair Value		191,566			499,765
Borrower Loans, at Fair Value		592,229			320,642
SOFR rate swaption (Note 11)		0			0
Servicing Assets		13,110			12,562
Credit Card Derivative		28,066			10,782
Total Assets		824,971			843,751
Liabilities:
Notes, at Fair Value		329,601			318,704
Convertible Preferred Stock Warrant Liability		210,776			166,346
Loan Trailing Fee Liability (Note 10)		3,182			3,290
Credit Card servicing obligation liability (Note 5)		7,584			3,720
Total Liabilities		551,143			492,060
Level 3 Inputs | Prosper Funding LLC
Assets:
Borrower Loans, at Fair Value		335,143			320,642
Servicing Assets		15,340			14,860
Total Assets		350,483			335,502
Liabilities:
Notes, at Fair Value		329,601			318,704
Loan Trailing Fee Liability (Note 10)		3,182			3,290
Total Liabilities		$ 332,783			$ 321,994
[1]Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.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. Refer to Note 7, Securitizations , and Note 11, Debt , to the notes to the condensed consolidated financial statements for additional information. September 30, 2023 December 31, 2022 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 26,498 $ 11,838 Loans Held for Sale, at Fair Value 191,566 499,765 Borrower Loans, at Fair Value 257,084 — Prepaid and Other Assets 1,830 3,210 Total assets of consolidated variable interest entities $ 476,978 $ 514,813 Liabilities of consolidated VIEs, included in total liabilities above: Notes Issued by Securitization Trust $ 248,335 $ — Warehouse Lines 188,881 446,762 Other liabilities 600 — Total liabilities of consolidated variable interest entities $ 437,816 $ 446,762

FAIR VALUE OF ASSETS AND LIAB_4

FAIR VALUE OF ASSETS AND LIABILITIES - Significant Unobservable Inputs (Details)			1 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2022	Sep. 30, 2023	Dec. 31, 2022
Servicing Assets:
Collection fee market rate		0.06%		0.06%
Prosper Funding LLC
Servicing Assets:
Collection fee market rate	0.06%		0.06%
Minimum
Servicing Assets:
Discount rate				15%	15%
Default rate				1.80%	2%
Prepayment rate				11.20%	14.20%
Market servicing rate				0.633%	0.648%
Weighted-average market servicing rate		0.708%		0.693%
Minimum | Prosper Funding LLC
Servicing Assets:
Discount rate				15%	15%
Default rate				1.50%	2%
Prepayment rate				11.20%	14.20%
Market servicing rate				0.633%	0.648%
Weighted-average market servicing rate	0.693%	0.708%
Maximum
Servicing Assets:
Discount rate				25%	25%
Default rate				19.10%	19.30%
Prepayment rate				29.70%	28%
Market servicing rate	0.842%	0.842%		0.842%	0.842%
Weighted-average market servicing rate		0.902%		0.902%
Maximum | Prosper Funding LLC
Servicing Assets:
Discount rate				25%	25%
Default rate				19.10%	19.30%
Prepayment rate				30.10%	28%
Market servicing rate	0.842%	0.842%		0.842%	0.842%
Weighted-average market servicing rate	0.902%	0.902%
Discount rate | Minimum
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.064	0.054	0.054	0.064	0.054
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.064	0.054	0.054	0.064	0.054
Discount rate | Minimum | Obligations
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.150	0.150	0.150	0.150	0.150
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.150	0.150	0.150	0.150	0.150
Discount rate | Minimum | Prosper Funding LLC
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.071	0.056	0.056	0.071	0.056
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.071	0.056	0.056	0.071	0.056
Discount rate | Minimum | Prosper Funding LLC | Obligations
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.150	0.150	0.150	0.150	0.150
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.150	0.150	0.150	0.150	0.150
Discount rate | Maximum
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.137	0.132	0.132	0.137	0.132
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.137	0.132	0.132	0.137	0.132
Discount rate | Maximum | Obligations
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.250	0.250	0.250	0.250	0.250
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.250	0.250	0.250	0.250	0.250
Discount rate | Maximum | Prosper Funding LLC
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.135	0.129	0.129	0.135	0.129
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.135	0.129	0.129	0.135	0.129
Discount rate | Maximum | Prosper Funding LLC | Obligations
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.250	0.250	0.250	0.250	0.250
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.250	0.250	0.250	0.250	0.250
Default rate | Minimum
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.015	0.018	0.018	0.015	0.018
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.015	0.018	0.018	0.015	0.018
Default rate | Minimum | Obligations
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.018	0.020	0.020	0.018	0.020
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.018	0.020	0.020	0.018	0.020
Default rate | Minimum | Prosper Funding LLC
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.018	0.018	0.018	0.018	0.018
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.018	0.018	0.018	0.018	0.018
Default rate | Minimum | Prosper Funding LLC | Obligations
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.015	0.020	0.020	0.015	0.020
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.015	0.020	0.020	0.015	0.020
Default rate | Maximum
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.189	0.187	0.187	0.189	0.187
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.189	0.187	0.187	0.189	0.187
Default rate | Maximum | Obligations
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.191	0.193	0.193	0.191	0.193
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.191	0.193	0.193	0.191	0.193
Default rate | Maximum | Prosper Funding LLC
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.187	0.182	0.182	0.187	0.182
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.187	0.182	0.182	0.187	0.182
Default rate | Maximum | Prosper Funding LLC | Obligations
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.191	0.193	0.193	0.191	0.193
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.191	0.193	0.193	0.191	0.193
Prepayment rate | Minimum | Obligations
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.112	0.142	0.142	0.112	0.142
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.112	0.142	0.142	0.112	0.142
Prepayment rate | Minimum | Prosper Funding LLC | Obligations
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.112	0.142	0.142	0.112	0.142
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.112	0.142	0.142	0.112	0.142
Prepayment rate | Maximum | Obligations
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.297	0.280	0.280	0.297	0.280
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.297	0.280	0.280	0.297	0.280
Prepayment rate | Maximum | Prosper Funding LLC | Obligations
Borrower Loans, Loans Held for Sale, and Notes [Abstract]
Fair value assumptions	0.301	0.280	0.280	0.301	0.280
Loan Trailing Fee Liability [Abstract]
Fair value assumptions	0.301	0.280	0.280	0.301	0.280

FAIR VALUE OF ASSETS AND LIAB_5

FAIR VALUE OF ASSETS AND LIABILITIES - Significant Unobservable Inputs - Servicing Rights (Details)			1 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2022	Sep. 30, 2023	Dec. 31, 2022
Servicing Rights at Fair Value [Line Items]
Collection fee market rate		0.06%		0.06%
Prosper Funding LLC
Servicing Rights at Fair Value [Line Items]
Collection fee market rate	0.06%		0.06%
Minimum
Servicing Rights at Fair Value [Line Items]
Discount rate				15%	15%
Default rate				1.80%	2%
Prepayment rate				11.20%	14.20%
Market servicing rate				0.633%	0.648%
Weighted-average market servicing rate		0.708%		0.693%
Minimum | Prosper Funding LLC
Servicing Rights at Fair Value [Line Items]
Discount rate				15%	15%
Default rate				1.50%	2%
Prepayment rate				11.20%	14.20%
Market servicing rate				0.633%	0.648%
Weighted-average market servicing rate	0.693%	0.708%
Maximum
Servicing Rights at Fair Value [Line Items]
Discount rate				25%	25%
Default rate				19.10%	19.30%
Prepayment rate				29.70%	28%
Market servicing rate	0.842%	0.842%		0.842%	0.842%
Weighted-average market servicing rate		0.902%		0.902%
Maximum | Prosper Funding LLC
Servicing Rights at Fair Value [Line Items]
Discount rate				25%	25%
Default rate				19.10%	19.30%
Prepayment rate				30.10%	28%
Market servicing rate	0.842%	0.842%		0.842%	0.842%
Weighted-average market servicing rate	0.902%	0.902%

FAIR VALUE OF ASSETS AND LIAB_6

FAIR VALUE OF ASSETS AND LIABILITIES - Significant Unobservable Inputs - Loan Trailing Fee Liability (Details)	Sep. 30, 2023	Dec. 31, 2022
Discount rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.064	0.054
Discount rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.137	0.132
Discount rate | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.071	0.056
Discount rate | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.135	0.129
Discount rate | Obligations | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.150	0.150
Discount rate | Obligations | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	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 assumptions	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 assumptions	0.250	0.250
Default rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.015	0.018
Default rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.189	0.187
Default rate | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.018	0.018
Default rate | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.187	0.182
Default rate | Obligations | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.018	0.020
Default rate | Obligations | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.191	0.193
Default rate | Obligations | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.015	0.020
Default rate | Obligations | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.191	0.193
Prepayment rate | Obligations | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.112	0.142
Prepayment rate | Obligations | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.297	0.280
Prepayment rate | Obligations | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.112	0.142
Prepayment rate | Obligations | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assumptions	0.301	0.280

FAIR VALUE OF ASSETS AND LIAB_7

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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Total
Beginning balance, Total	$ 521,293	$ 314,065	$ 501,703	$ 244,811
Purchase of Borrower Loans/Issuance of Notes	428,543	979,353	1,529,656	2,271,476
Principal repayments	(61,447)	(46,862)	(189,198)	(129,268)
Borrower Loans sold to third parties	(421,820)	(839,276)	(1,352,347)	(1,970,973)
Other changes	(468)	432	42	832
Change in fair value	(11,907)	(7,611)	(35,662)	(16,777)
Transfer of Loans Held for Sale to Borrower Loans upon PMIT 2023-1 Transaction, at Fair Value	0		0
Ending balance, Total	454,194	400,101	454,194	400,101
Prosper Funding LLC
Total
Beginning balance, Total	3,512	1,372	1,938	1,641
Purchase of Borrower Loans/Issuance of Notes	428,543	979,353	1,529,656	2,271,476
Borrower Loans contributed by Parent, at Fair Value	2,010		2,010
Principal repayments	(687)	(625)	(2,191)	(1,399)
Borrower Loans sold to third parties	(430,014)	(979,166)	(1,530,880)	(2,272,638)
Other changes	184	(143)	171	(104)
Change in fair value	620	(149)	456	118
Ending balance, Total	5,542	1,892	5,542	1,892
Notes
Liabilities
Beginning balance, Liabilities	(330,747)	(300,521)	(318,704)	(265,985)
Purchase of Borrower Loans/Issuance of Notes	(56,468)	(69,797)	(180,012)	(214,107)
Principal repayments	47,759	60,375	141,625	158,105
Borrower Loans sold to third parties	0	0	0	0
Other changes	(359)	(207)	(619)	(320)
Change in fair value	10,214	9,071	28,109	21,228
Transfer of Loans Held for Sale to Borrower Loans upon PMIT 2023-1 Transaction, at Fair Value	0		0
Ending balance, Liabilities	(329,601)	(301,079)	(329,601)	(301,079)
Notes | Prosper Funding LLC
Liabilities
Beginning balance, Liabilities	(330,747)	(300,521)	(318,704)	(265,985)
Purchase of Borrower Loans/Issuance of Notes	(56,468)	(69,797)	(180,012)	(214,107)
Borrower Loans contributed by Parent, at Fair Value	0		0
Principal repayments	47,759	60,375	141,625	158,105
Borrower Loans sold to third parties	0	0	0	0
Other changes	(359)	(207)	(619)	(320)
Change in fair value	10,214	9,071	28,109	21,228
Ending balance, Liabilities	(329,601)	(301,079)	(329,601)	(301,079)
Borrower Loans
Assets
Beginning balance, Assets	334,259	301,893	320,642	267,626
Purchase of Borrower Loans/Issuance of Notes	56,323	70,486	182,119	214,271
Principal repayments	(48,158)	(59,750)	(140,520)	(156,706)
Borrower Loans sold to third parties	(1,326)	(502)	(3,280)	(1,326)
Other changes	2,654	64	2,850	216
Change in fair value	(11,174)	(9,220)	(29,233)	(21,110)
Transfer of Loans Held for Sale to Borrower Loans upon PMIT 2023-1 Transaction, at Fair Value	259,651		259,651
Ending balance, Assets	592,229	302,971	592,229	302,971
Borrower Loans | Prosper Funding LLC
Assets
Beginning balance, Assets	334,259	301,893	320,642	267,626
Purchase of Borrower Loans/Issuance of Notes	56,323	70,486	182,119	214,271
Borrower Loans contributed by Parent, at Fair Value	2,010		2,010
Principal repayments	(47,072)	(59,750)	(139,434)	(156,706)
Borrower Loans sold to third parties	(1,326)	(502)	(3,331)	(1,326)
Other changes	543	64	790	216
Change in fair value	(9,594)	(9,220)	(27,653)	(21,110)
Ending balance, Assets	335,143	302,971	335,143	302,971
Loans Held for Sale
Assets
Beginning balance, Assets	517,781	312,693	499,765	243,170
Purchase of Borrower Loans/Issuance of Notes	428,688	978,664	1,527,549	2,271,312
Principal repayments	(61,048)	(47,487)	(190,303)	(130,667)
Borrower Loans sold to third parties	(420,494)	(838,774)	(1,349,067)	(1,969,647)
Other changes	(2,763)	575	(2,189)	936
Change in fair value	(10,947)	(7,462)	(34,538)	(16,895)
Transfer of Loans Held for Sale to Borrower Loans upon PMIT 2023-1 Transaction, at Fair Value	(259,651)		(259,651)
Ending balance, Assets	191,566	398,209	191,566	398,209
Loans Held for Sale | Prosper Funding LLC
Assets
Beginning balance, Assets	0	0	0	0
Purchase of Borrower Loans/Issuance of Notes	428,688	978,664	1,527,549	2,271,312
Borrower Loans contributed by Parent, at Fair Value	0		0
Principal repayments	0	0	0	0
Borrower Loans sold to third parties	(428,688)	(978,664)	(1,527,549)	(2,271,312)
Other changes	0	0	0	0
Change in fair value	0	0	0	0
Ending balance, Assets	$ 0	$ 0	$ 0	$ 0

FAIR VALUE OF ASSETS AND LIAB_8

FAIR VALUE OF ASSETS AND LIABILITIES - Summary of Additional Information for Level 3 Fair Value Balances (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Servicing Assets
Beginning balance			$ 12,562
Ending balance	$ 13,110		13,110
Prosper Funding LLC
Servicing Assets
Beginning balance			14,860
Ending balance	15,340		15,340
Servicing Assets
Servicing Assets
Beginning balance			12,562
Ending balance	13,110		13,110
Servicing Assets | Prosper Funding LLC
Servicing Assets
Beginning balance			14,860
Ending balance	15,340		15,340
Level 3 Inputs
Servicing Assets
Beginning balance			12,562
Ending balance	13,110		13,110
Level 3 Inputs | Credit Card Derivative | Derivative
Credit Card Derivative
Beginning balance, Assets	19,542	$ 4,861	10,782	$ 7
Change in fair value	8,524	2,976	17,284	6,839
Gains (losses) from settled transactions	749	1,779	(270)	2,355
Net payments received (made)	(749)	(1,779)	270	(1,364)
Ending balance, Assets	28,066	7,837	28,066	7,837
Level 3 Inputs | Prosper Funding LLC
Servicing Assets
Beginning balance			14,860
Ending balance	15,340		15,340
Level 3 Inputs | Servicing Assets
Servicing Assets
Beginning balance	12,833	10,323	12,562	8,761
Additions	2,290	4,211	7,157	9,888
Less: Changes in fair value	(2,013)	(2,265)	(6,609)	(6,380)
Ending balance	13,110	12,269	13,110	12,269
Level 3 Inputs | Servicing Assets | Prosper Funding LLC
Servicing Assets
Beginning balance	15,148	11,699	14,860	9,796
Additions	2,346	4,903	8,070	11,383
Less: Changes in fair value	(2,154)	(2,528)	(7,590)	(7,105)
Ending balance	15,340	14,074	15,340	14,074
Level 3 Inputs | Convertible Preferred Stock Warrant Liability
Liabilities
Beginning balance	194,070	173,455	166,346	250,941
Change in fair value	16,706	(11,374)	44,430	(88,860)
Ending balance	210,776	162,081	210,776	162,081
Level 3 Inputs | Credit Card Servicing Obligation Liability
Liabilities
Beginning balance	5,769	1,246	3,720	0
Change in fair value	1,815	1,135	3,864	2,381
Ending balance	7,584	2,381	7,584	2,381
Level 3 Inputs | Loan Trailing Fee Liability
Liabilities
Beginning balance	3,294	2,574	3,290	2,161
Issuances	464	964	1,596	2,286
Cash Payment of Loan Trailing Fee	(705)	(475)	(2,111)	(1,485)
Change in fair value	129	(1)	407	100
Ending balance	3,182	3,062	3,182	3,062
Level 3 Inputs | Loan Trailing Fee Liability | Prosper Funding LLC
Liabilities
Beginning balance	3,294	2,574	3,290	2,161
Issuances	464	964	1,596	2,286
Cash Payment of Loan Trailing Fee	(705)	(475)	(2,111)	(1,485)
Change in fair value	129	(1)	407	100
Ending balance	$ 3,182	$ 3,062	$ 3,182	$ 3,062

FAIR VALUE OF ASSETS AND LIAB_9

FAIR VALUE OF ASSETS AND LIABILITIES - Fair Value Assumptions for Borrower Loans, Loans Held for Sale and Notes (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	$ 592,229	$ 320,642
Notes, at Fair Value	329,601	318,704
Level 3 Inputs
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	592,229	320,642
Notes, at Fair Value	329,601	318,704
Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	335,143	320,642
Notes, at Fair Value	329,601	318,704
Prosper Funding LLC | Level 3 Inputs
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	335,143	320,642
Notes, at Fair Value	329,601	318,704
Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes, at Fair Value	329,601	318,704
Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value		320,642
Notes, at Fair Value	329,601	318,704
Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	783,795	820,407
Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	335,143	320,642
Discount rate assumption | 100 basis point increase | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	326,374	315,456
Discount rate assumption | 100 basis point increase | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		317,380
Notes	326,374	315,456
Discount rate assumption | 100 basis point increase | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	776,132	812,061
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	331,868	317,380
Discount rate assumption | 200 basis point incease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	323,226	312,291
Discount rate assumption | 200 basis point incease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		314,201
Notes	323,226	312,291
Discount rate assumption | 200 basis point incease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	768,658	803,927
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	328,673	314,201
Discount rate assumption | 100 basis point decrease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	332,911	322,037
Discount rate assumption | 100 basis point decrease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		323,991
Notes	332,911	322,037
Discount rate assumption | 100 basis point decrease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	791,653	828,975
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	338,505	323,991
Discount rate assumption | 200 basis point decrease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	336,308	325,461
Discount rate assumption | 200 basis point decrease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		327,429
Notes	336,308	325,461
Discount rate assumption | 200 basis point decrease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	799,716	837,773
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	341,953	327,429
Default rate assumption | 10 percent increase | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	325,854	314,892
Default rate assumption | 10 percent increase | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		316,832
Notes	325,854	314,892
Default rate assumption | 10 percent increase | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	774,954	810,657
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	331,365	316,832
Default rate assumption | 20 percent increase | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	322,136	311,112
Default rate assumption | 20 percent increase | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		313,053
Notes	322,136	311,112
Default rate assumption | 20 percent increase | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	766,182	800,989
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	327,614	313,053
Default rate assumption | 10 percent decrease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	333,376	322,547
Default rate assumption | 10 percent decrease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		324,484
Notes	333,376	322,547
Default rate assumption | 10 percent decrease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	792,699	830,238
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	338,953	324,484
Default rate assumption | 20 percent decrease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	337,179	326,425
Default rate assumption | 20 percent decrease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		328,361
Notes	337,179	326,425
Default rate assumption | 20 percent decrease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	801,672	840,156
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	$ 342,789	$ 328,361
Discount rate | Discount rate assumption | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions	0.0860	0.0687
Discount rate | Discount rate assumption | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions	0.0860	0.0687
Discount rate | Discount rate assumption | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions	0.0858	0.0672
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	0.0860	0.0687
Default rate | Default rate assumption | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions	0.1199	0.1136
Default rate | Default rate assumption | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions	0.1199	0.1136
Default rate | Default rate assumption | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions	0.0997	0.0931
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	0.1199	0.1136

FAIR VALUE OF ASSETS AND LIA_10

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Prosper's and Prosper Funding's Estimated Fair Value of Servicing Assets and Liabilities (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Servicing Assets And Liabilities Fair Value [Line Items]
Servicing Assets	$ 13,110	$ 12,562
Credit Card Servicing Obligation Liability
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative liability	7,584	3,720
Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Servicing Assets	15,340	14,860
Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Servicing Assets	13,110	12,562
Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Servicing Assets	15,340	14,860
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	12,277	11,708
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	14,365	13,850
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	13,943	13,415
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	16,315	15,870
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	12,824	12,286
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	15,005	14,534
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	13,401	12,842
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	15,680	15,191
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	12,876	12,305
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	15,066	14,557
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	13,345	12,820
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	$ 15,615	$ 15,165
Market servicing rate | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	0.65%	0.65%
Market servicing rate | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	0.651%	0.649%
Prepayment rate | Credit Card Servicing Obligation Liability
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative liability, measurement input	0.0879	0.1008
Prepayment rate | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	18.43%	18.47%
Prepayment rate | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	18.79%	18.77%
Default rate | Credit Card Servicing Obligation Liability
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative liability, measurement input	0.1437	0.1334
Default rate | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	13.25%	13.38%
Default rate | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	12.63%	12.63%
Discount rate on Prosper Allocations | Credit Card Servicing Obligation Liability
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative liability, measurement input	0.0886	0.0926
Market servicing rate | Credit Card Servicing Obligation Liability
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative liability, measurement input	0.0200	0.0200

FAIR VALUE OF ASSETS AND LIA_11

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule Credit Card Derivative Obligation Liability (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Aug. 31, 2023 USD ($)	Jul. 31, 2023 USD ($)
Servicing Assets And Liabilities Fair Value [Line Items]
Credit Card Derivative	$ 28,066	$ 10,782	$ 300,000	$ 200,000
Credit Card Servicing Obligation Liability
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative liability	$ 7,584	$ 3,720
Credit Card Servicing Obligation Liability | Discount rate on Prosper Allocations
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative liability, measurement input	0.0886	0.0926
Credit Card Servicing Obligation Liability | Prepayment rate
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative liability, measurement input	0.0879	0.1008
Credit Card Servicing Obligation Liability | Prepayment rate | Applying a 1.1 multiplier to prepayment rate
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative Liability, Expected Fair Value With Change In Assumptions	$ 7,481	$ 3,662
Credit Card Servicing Obligation Liability | Prepayment rate | Applying a 0.9 multiplier to prepayment rate
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative Liability, Expected Fair Value With Change In Assumptions	$ 7,687	$ 3,779
Credit Card Servicing Obligation Liability | Default rate
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative liability, measurement input	0.1437	0.1334
Credit Card Servicing Obligation Liability | Default rate | Applying a 1.1 multiplier to default rate
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative Liability, Expected Fair Value With Change In Assumptions	$ 7,396	$ 3,636
Credit Card Servicing Obligation Liability | Default rate | Applying a 0.9 multiplier to default rate
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative Liability, Expected Fair Value With Change In Assumptions	$ 7,776	$ 3,806
Credit Card Servicing Obligation Liability | Market servicing rate
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative liability, measurement input	0.0200	0.0200
Credit Card Servicing Obligation Liability | Discount rate | Market servicing rate increase of 0.10%
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative Liability, Expected Fair Value With Change In Assumptions	$ 7,989	$ 3,919
Credit Card Servicing Obligation Liability | Discount rate | Market servicing rate decrease of 0.10%
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative Liability, Expected Fair Value With Change In Assumptions	$ 7,179	$ 3,521

FAIR VALUE OF ASSETS AND LIA_12

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Prosper's Estimated Fair Value of Derivative Assets (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Aug. 31, 2023 USD ($)	Jul. 31, 2023 USD ($)
Servicing Assets And Liabilities Fair Value [Line Items]
Credit Card Derivative	$ 28,066	$ 10,782	$ 300,000	$ 200,000
Credit Card Derivative
Servicing Assets And Liabilities Fair Value [Line Items]
Credit Card Derivative	28,066	10,782
Prosper Allocations outstanding	$ 206,748	$ 102,392
Discount rate on Prosper Allocations | Credit Card Derivative
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	0.2469	0.2623
Discount rate on Coastal Program Fee | Credit Card Derivative
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	0.0886	0.0926
Prepayment rate
Servicing Assets And Liabilities Fair Value [Line Items]
Prepayment rate increase	1.10%
Prepayment rate decrease	0.90%
Prepayment rate | Credit Card Derivative
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	0.0879	0.1008
Prepayment rate | Credit Card Derivative | Applying a 1.1 multiplier to prepayment rate
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	$ 27,686	$ 10,625
Prepayment rate | Credit Card Derivative | Applying a 0.9 multiplier to prepayment rate
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	$ 28,451	$ 10,942
Default rate
Servicing Assets And Liabilities Fair Value [Line Items]
Default rate increase	1.10%
Default rate decrease	0.90%
Default rate | Credit Card Derivative
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	0.1437	0.1334
Default rate | Credit Card Derivative | Applying a 1.1 multiplier to default rate
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	$ 22,475	$ 8,001
Default rate | Credit Card Derivative | Applying a 0.9 multiplier to default rate
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	33,822	13,641
Discount rate | Credit Card Derivative | Market servicing rate increase of 0.10%
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	27,781	10,699
Discount rate | Credit Card Derivative | Market servicing rate decrease of 0.10%
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	27,503	10,618
Discount rate | Credit Card Derivative | Market servicing rate decrease of 0.10%
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	28,357	10,866
Discount rate | Credit Card Derivative | Market servicing rate decrease of 0.20%
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	$ 28,655	$ 10,951

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)	9 Months Ended
	Sep. 30, 2023
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		Sep. 30, 2023		Sep. 25, 2023	Dec. 31, 2022		Sep. 30, 2022
Assets:
Cash and Cash Equivalents		$ 39,524			$ 83,446		$ 43,530
Restricted Cash		97,846	[1]	$ 11,500	113,163	[1]	$ 159,323
Accounts Receivable		5,959			3,462
Total Assets		1,066,656			1,128,404
Liabilities:
Accounts Payable and Accrued Liabilities		37,532			37,254
Payable to Investors		62,698			85,312
Notes Issued by Securitization Trust	[1]	248,335			0
Warehouse Lines	[1]	188,881			446,762
Total Liabilities		1,185,745			1,156,043
Carrying Amount
Assets:
Cash and Cash Equivalents		39,524			83,446
Accounts Receivable		5,959			3,462
Total Assets		143,329			200,071
Liabilities:
Accounts Payable and Accrued Liabilities		37,532			37,254
Payable to Investors		62,698			85,312
Notes Issued by Securitization Trust		248,335
Warehouse Lines		188,881			446,762
Term Loan (Note 11)					73,407
Total Liabilities		612,245			642,735
Carrying Amount | Cash and Cash Equivalents
Assets:
Restricted Cash		94,818			108,284
Carrying Amount | Certificates of Deposit
Assets:
Restricted Cash		3,028			4,879
Balance at Fair Value
Assets:
Cash and Cash Equivalents		39,524			83,446
Accounts Receivable		5,959			3,462
Total Assets		143,329			200,071
Liabilities:
Accounts Payable and Accrued Liabilities		37,532			37,254
Payable to Investors		62,698			85,312
Notes Issued by Securitization Trust		254,975
Warehouse Lines		187,584			444,329
Term Loan (Note 11)		77,411			76,191
Total Liabilities		620,200			643,086
Balance at Fair Value | Cash and Cash Equivalents
Assets:
Restricted Cash		94,818			108,284
Balance at Fair Value | Certificates of Deposit
Assets:
Restricted Cash		3,028			4,879
Level 1 Inputs
Assets:
Cash and Cash Equivalents		39,524			83,446
Accounts Receivable		0			0
Total Assets		134,342			191,730
Liabilities:
Accounts Payable and Accrued Liabilities		0			0
Payable to Investors		0			0
Notes Issued by Securitization Trust		0
Warehouse Lines		0			0
Term Loan (Note 11)		0			0
Total Liabilities		0			0
Level 1 Inputs | Cash and Cash Equivalents
Assets:
Restricted Cash		94,818			108,284
Level 1 Inputs | Certificates of Deposit
Assets:
Restricted Cash		0			0
Level 2 Inputs
Assets:
Cash and Cash Equivalents		0			0
Accounts Receivable		5,959			3,462
Total Assets		8,987			8,341
Liabilities:
Accounts Payable and Accrued Liabilities		37,532			37,254
Payable to Investors		62,698			85,312
Notes Issued by Securitization Trust		254,975
Warehouse Lines		187,584			444,329
Term Loan (Note 11)		77,411			76,191
Total Liabilities		620,200			643,086
Level 2 Inputs | Cash and Cash Equivalents
Assets:
Restricted Cash		0			0
Level 2 Inputs | Certificates of Deposit
Assets:
Restricted Cash		3,028			4,879
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
Warehouse Lines		0			0
Term Loan (Note 11)		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.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. Refer to Note 7, Securitizations , and Note 11, Debt , to the notes to the condensed consolidated financial statements for additional information. September 30, 2023 December 31, 2022 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 26,498 $ 11,838 Loans Held for Sale, at Fair Value 191,566 499,765 Borrower Loans, at Fair Value 257,084 — Prepaid and Other Assets 1,830 3,210 Total assets of consolidated variable interest entities $ 476,978 $ 514,813 Liabilities of consolidated VIEs, included in total liabilities above: Notes Issued by Securitization Trust $ 248,335 $ — Warehouse Lines 188,881 446,762 Other liabilities 600 — Total liabilities of consolidated variable interest entities $ 437,816 $ 446,762

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Goodwill And Other Intangible Assets [Line Items]
Goodwill	$ 36,368,000		$ 36,368,000
Goodwill impairment expense	0	$ 0
Net carrying value	112,000		$ 192,000
User base and customer relationships
Goodwill And Other Intangible Assets [Line Items]
Net carrying value	$ 112,000
Remaining Useful Life (In Years)	1 year 7 months 6 days
User base and customer relationships | Minimum
Goodwill And Other Intangible Assets [Line Items]
Remaining Useful Life (In Years)	3 years
User base and customer relationships | Maximum
Goodwill And Other Intangible Assets [Line Items]
Remaining Useful Life (In Years)	10 years

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Summary of Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 8,170
Accumulated Amortization	(8,058)
Net Carrying Value	112	$ 192
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	(4,938)
Net Carrying Value	$ 112
Remaining Useful Life (In Years)	1 year 7 months 6 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	Sep. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (remainder thereof)	$ 27
2024	85
Total	$ 112

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Other Liabilities [Abstract]
Operating lease liabilities (Note 16)	$ 15,123	$ 16,351
Deferred revenue	5,531	3,880
Credit Card servicing obligation liability (Note 5)	7,584	3,720
Loan trailing fee liability	3,182	3,290
Deferred income tax liability	658	658
Other	1,045	359
Total Other Liabilities	$ 33,123	$ 28,258
Operating lease liability, location	Total Other Liabilities	Total Other Liabilities

DEBT (Details)

DEBT (Details) - USD ($)						1 Months Ended	3 Months Ended			9 Months Ended
		May 05, 2023	Feb. 10, 2023	Mar. 04, 2021	Jun. 20, 2019	Apr. 30, 2020	Sep. 30, 2023		Sep. 30, 2022	Sep. 30, 2023		Sep. 30, 2022	Sep. 25, 2023	Aug. 31, 2023	Jul. 31, 2023	May 04, 2023	Feb. 09, 2023	Dec. 31, 2022		Nov. 14, 2022	May 19, 2021	Mar. 28, 2019	Jun. 12, 2018	Jan. 19, 2018
Line of Credit Facility [Line Items]
Fair value hedges, net							$ 28,066,000			$ 28,066,000				$ 300,000,000	$ 200,000,000			$ 10,782,000
Warehouse lines	[1]						188,881,000			188,881,000								446,762,000
Loans held for sale	[1]						191,566,000			191,566,000								499,765,000
Restricted Cash							97,846,000	[1]	$ 159,323,000	97,846,000	[1]	$ 159,323,000	$ 11,500,000					113,163,000	[1]
Gain on Forgiveness of PPP Loan							0		0	0		8,604,000
VIE, Primary Beneficiary
Line of Credit Facility [Line Items]
Warehouse lines							188,881,000			188,881,000								446,762,000
Loans held for sale							191,566,000			191,566,000								499,765,000
Restricted Cash							26,498,000			26,498,000								11,838,000
VIE, Primary Beneficiary | Securtization Trust PMT 2023-1
Line of Credit Facility [Line Items]
Face amount													273,800,000
Restricted Cash													15,000,000
Securitization amount													266,100,000	$ 275,900,000
Debt Issuance Costs, Line of Credit Arrangements, Gross													1,900,000
Prosper Funding LLC
Line of Credit Facility [Line Items]
Restricted Cash							68,331,000		147,007,000	68,331,000		147,007,000						91,564,000
Prosper Funding LLC | VIE, Primary Beneficiary | Securtization Trust PMT 2023-1
Line of Credit Facility [Line Items]
Face amount													7,700,000
Interest Rate Swaption
Line of Credit Facility [Line Items]
Fair value hedges, net							800,000			800,000								$ 1,300,000
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]
Line of credit																							$ 200,000,000	$ 100,000,000
Repayment period					12 months
Warehouse lines							188,900,000			$ 188,900,000
Loans held for sale							199,900,000			199,900,000
Undrawn portion							56,600,000			56,600,000
Debt issuance costs							2,200,000			2,200,000											$ 300,000
PWIT | Revolving Credit Facility | Interest Rate Swaption
Line of Credit Facility [Line Items]
Gain (loss) on change in fair value of swaption							100,000		1,200,000
Hedged asset, fair value hedge, cumulative increase (decrease)							$ (500,000)		$ 1,600,000	$ (500,000)		$ 1,600,000
PWIIT | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit		$ 244,000,000	$ 450,000,000												300,000,000	$ 200,000,000	$ 300,000,000					$ 300,000,000
Advance rate				91.50%
Warehouse lines													$ 224,000,000
PWIIT | Revolving Credit Facility | Interest Rate Swaption
Line of Credit Facility [Line Items]
Derivative notional amount																$ 185,000,000
PWIIT Class A | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit		$ 200,000,000	400,000,000	$ 230,000,000											265,000,000
Increase in basis spread on variable rate		0.15%
Commitment fee percent		0.50%
PWIIT Class B | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit		$ 44,000,000	$ 50,000,000	$ 70,000,000											$ 35,000,000
PPP Loan
Line of Credit Facility [Line Items]
Face amount						$ 8,400,000
Stated interest rate						1%
Remaining contractual term (in years)						2 years
Credit Agreement | Line of Credit
Line of Credit Facility [Line Items]
Face amount																				$ 75,000,000
Debt issuance costs, net																				$ 400,000
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | PWIIT Class A | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		2.75%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | PWIIT Class A | Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Increase in basis spread on variable rate		8.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | PWIIT Class B | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate			8.75%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Credit Agreement | Line of Credit
Line of Credit Facility [Line Items]
Basis spread on variable rate										9%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Credit Agreement | Minimum | Line of Credit
Line of Credit Facility [Line Items]
Paid-In-kind interest rate							2%			2%
National Banking Associations Asset-Backed Commercial Paper Rate | PWIIT Class A | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate			2.85%
[1]Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.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. Refer to Note 7, Securitizations , and Note 11, Debt , to the notes to the condensed consolidated financial statements for additional information. September 30, 2023 December 31, 2022 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 26,498 $ 11,838 Loans Held for Sale, at Fair Value 191,566 499,765 Borrower Loans, at Fair Value 257,084 — Prepaid and Other Assets 1,830 3,210 Total assets of consolidated variable interest entities $ 476,978 $ 514,813 Liabilities of consolidated VIEs, included in total liabilities above: Notes Issued by Securitization Trust $ 248,335 $ — Warehouse Lines 188,881 446,762 Other liabilities 600 — Total liabilities of consolidated variable interest entities $ 437,816 $ 446,762

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						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net (Loss) Income	$ (31,043)	$ (52,770)	$ (9,090)	$ 8,621	$ 42,665	$ 36,632	$ (92,903)	$ 87,918
Less: Net Income Allocated to Participating Securities	0			(5,772)			0	(59,054)
Net (Loss) Income Attributable to Common Stockholders	(31,043)			2,849			(92,903)	28,864
Net (Loss) Income Attributable to Common Stockholders	$ (31,043)			$ 2,849			$ (92,903)	$ 28,864
Denominator:
Weighted-Average Shares - Basic (in shares)	76,617,924			73,731,925			75,866,061	73,010,111
Effect of dilutive securities:
Stock options (in shares)	0			54,551,659			0	61,828,654
Warrants (in shares)	0			410,837			0	600,194
Convertible preferred stock warrants (in shares)	0			213,264,845			0	213,264,845
Weighted average shares used in computing diluted Net Income (Loss) per Share	76,617,924			341,959,266			75,866,061	348,703,804
Net (Loss) Income Per Share – Basic (in dollars per share)	$ (0.41)			$ 0.04			$ (1.22)	$ 0.40
Net (Loss) Income Per Share - Diluted (in dollars per share)	$ (0.41)			$ 0.01			$ (1.22)	$ 0.08

NET INCOME (LOSS) PER SHARE - D

NET INCOME (LOSS) PER SHARE - Dilutive Shares Excluded from Calculation (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total excluded securities (in shares)	452,556,559	175,417,691	454,462,433	175,073,562
Convertible preferred stock issued and outstanding, excluding shares held by consolidated VIE
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total excluded securities (in shares)	158,365,655	158,365,655	158,365,655	158,365,655
Stock options issued and outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total excluded securities (in shares)	79,845,710	16,382,524	81,751,584	16,227,752
Warrants issued and outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total excluded securities (in shares)	1,080,349	669,512	1,080,349	480,155
Series E-1 convertible preferred stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total excluded securities (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 excluded securities (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)						3 Months Ended		9 Months Ended
	Jul. 21, 2020 shares	Dec. 23, 2019 shares	Feb. 27, 2017 $ / shares shares	Dec. 16, 2016	Feb. 16, 2016	Sep. 30, 2023 USD ($) vote $ / shares shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2023 USD ($) vote time $ / shares shares	Sep. 30, 2022 USD ($) shares	Jun. 30, 2023 shares	Mar. 31, 2023 shares	Dec. 31, 2022 $ / shares shares	Jun. 30, 2022 shares	Mar. 31, 2022 shares	Dec. 31, 2021 shares	Sep. 20, 2017 $ / shares shares
Class of Stock [Line Items]
Change in Fair Value of Convertible Preferred Stock Warrants | $								$ 44,430,000	$ (88,860,000)
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)						77,634,473		77,634,473				75,223,850
Common stock, outstanding (in shares)						76,698,538		76,698,538				74,287,915
Number of votes per share | vote						1		1
Common Stock
Class of Stock [Line Items]
Stock split conversion ratio					5
Common stock, outstanding (in shares)						81,875,773	79,191,709	81,875,773	79,191,709	81,778,161	80,612,159	79,465,150	78,776,776	77,671,096	77,331,229
Exercise of stock options (in shares)								2,410,623
Cash proceeds | $								$ 104,000
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%
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%
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%
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%
Series F
Class of Stock [Line Items]
Voting power (at least)								60%
Preferred stock, liquidation preference, conversion basis								0.6667
Preferred stock, liquidation preference, conversion basis, after payment								0.3333
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
Change in fair value | $						$ 14,200,000	$ (8,900,000)	$ 28,400,000	$ 74,600,000
Preferred stock, shares authorized (in shares)						177,720,707		177,720,707
Series G
Class of Stock [Line Items]
Voting power (at least)								60%
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
Change in fair value | $						$ 2,500,000	$ (2,500,000)	$ 7,100,000	$ 14,200,000
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								0.6667
Preferred stock, liquidation preference, conversion basis, after payment								0.3333
Liquidation preference (in dollars per share) | $ / shares						$ 0.84		$ 0.84
Preferred stock, shares authorized (in shares)						16,858,078		16,858,078
Common Stock
Class of Stock [Line Items]
Purchase of stock by consolidated VIE (in shares)		2,196,665
Series E and F Convertible Preferred Stock
Class of Stock [Line Items]
Change in Fair Value of Convertible Preferred Stock Warrants | $						$ 38,900,000		$ 38,900,000

CONVERTIBLE PREFERRED STOCK, _4

CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK - Summary of Shares Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	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	51,247,915	51,247,915	51,247,915	51,247,915	51,247,915
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 - Valuation Techniques (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Volatility | Series E-1
Class of Stock [Line Items]
Fair value assumptions	0.680	0.720
Volatility | Series F
Class of Stock [Line Items]
Fair value assumptions	0.680	0.720
Risk-free interest rate | Series E-1
Class of Stock [Line Items]
Fair value assumptions	0.0490	0.0430
Risk-free interest rate | Series F
Class of Stock [Line Items]
Fair value assumptions	0.0490	0.0430
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

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Financial statement impact			$ 1,185,000	$ 1,295,000
Options outstanding, term			5 years 11 months 1 day
Dividend yield	0%	0%	0%	0%
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]
Unvested restricted stock outstanding (in shares)	2,600,133		2,600,133		2,602,383
Weighted average grant date fair value (in dollars per share)	$ 1.04		$ 1.04		$ 1.04
Unamortized expense related to unvested stock-based awards	$ 3,000,000		$ 3,000,000
Weighted average vesting period			2 years 8 months 12 days
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	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Options Issued and Outstanding
Beginning Balance (in shares) | shares	77,727,763
Options issued (in shares) | shares	10,089,430
Options exercised (in shares) | shares	(2,410,623)
Options forfeited (in shares) | shares	(2,898,908)
Options expired (in shares) | shares	(39,125)
Ending balance (in shares) | shares	82,468,537
Options vested and expected to vest (in shares) | shares	75,365,083
Options vested and exercisable (in shares) | shares	59,111,020
Weighted Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 0.13
Options issued (in dollars per share) | $ / shares	0.33
Options exercised (in dollars per share) | $ / shares	0.04
Options forfeited (in dollars per share) | $ / shares	0.32
Options expired (in dollars per share) | $ / shares	0.02
Ending balance (in dollars per share) | $ / shares	0.15
Options vested and expected to vest (in dollars per share) | $ / shares	0.15
Options vested and exercisable (in dollars per share) | $ / shares	$ 0.08

STOCK-BASED COMPENSATION - Fair

STOCK-BASED COMPENSATION - Fair Value of Stock Option Awards (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair value of stock option awards [Abstract]
Volatility of common stock	67.08%	68.09%	66.63%	67.08%
Risk-free interest rate	4.04%	2.87%	3.45%	2.61%
Expected life (in years)	6 years	6 years	6 years 1 month 6 days	6 years
Dividend yield	0%	0%	0%	0%

STOCK-BASED COMPENSATION - Su_2

STOCK-BASED COMPENSATION - Summarized Activities for the Company's RSU's (Details) - RSUs	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested, beginning balance (in shares) | shares	2,602,383
Forfeited (in shares) | shares	(2,250)
Unvested, ending balance (in shares) | shares	2,600,133
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested, beginning balance (in dollars per share) | $ / shares	$ 1.04
Forfeited (in dollars per share) | $ / shares	2.18
Unvested, ending balance (in dollars per share) | $ / shares	$ 1.04

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock Based Compensation Included in Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 413	$ 496	$ 1,185	$ 1,295
Origination and servicing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	21	36	65	98
Sales and marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	98	215	201	417
General and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 294	$ 245	$ 919	$ 780

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Taxes [Line Items]
Income tax expense	$ (64,000)	$ 20,000	$ 76,000	$ 60,000
Prosper Funding LLC
Income Taxes [Line Items]
Income tax expense			$ 0	$ 0
Net effective tax rate			0%

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	May 31, 2022
Lessee, Lease, Description [Line Items]
Renewal term	5 years		5 years
Rental expense under operating lease arrangements	$ 1,100	$ 1,200	$ 3,300	$ 3,500
Sublease income	100	$ 200	300	$ 600
ROU operating lease assets	21,600		21,600
Operating lease liabilities (Note 16)	$ 15,123		$ 15,123		$ 16,351
Operating lease liability, location	Other Liabilities		Other Liabilities		Other Liabilities
San Francisco, California | Office
Lessee, Lease, Description [Line Items]
ROU operating lease assets						$ 9,900
Operating lease liabilities (Note 16)						$ 9,900
Minimum
Lessee, Lease, Description [Line Items]
Operating lease contract term	3 years		3 years
Maximum
Lessee, Lease, Description [Line Items]
Operating lease contract term	5 years		5 years

LEASES - Operating Lease Right-

LEASES - Operating Lease Right-of-Use Assets (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Gross Carrying Value	$ 21,600
Accumulated Amortization	9,346
Net Carrying Value	12,254
ROU Assets - Office buildings
Lessee, Lease, Description [Line Items]
Gross Carrying Value	21,600
Accumulated Amortization	9,346
Net Carrying Value	$ 12,254

LEASES - Schedule of Lease Matu

LEASES - Schedule of Lease Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Lease Maturity
Remainder of 2023	$ 1,204
2024	4,391
2025	4,517
2026	4,432
2027	3,311
Thereafter	1,411
Total future minimum lease payments	19,266
Less imputed interest	(4,143)
Present value of future minimum lease payments	$ 15,123	$ 16,351

LEASES - Other Information Rela

LEASES - Other Information Related to Leases (Details)	Sep. 30, 2023
Leases [Abstract]
Weighted average remaining lease term (in years)	4 years 3 months
Weighted average discount rate	11.20%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Commitments And Contingencies [Line Items]
Designated Amount for loans (less than), through February 2025	$ 100,000
Minimum fee, remaining in current year	300,000
Minimum fee, 2024	1,200,000
Minimum fee, 2025	1,200,000
Minimum liquidity covenant	15,000,000
Purchase commitment of borrower loans	18,400,000
Maximum potential future payments	3,200,000,000
Accrued repurchase and indemnification obligation	400,000	$ 300,000
Repayments of repurchased Notes	300,000
Additional indemnification amount	900,000
Prosper Funding LLC
Commitments And Contingencies [Line Items]
Minimum fee, 2025	100,000
Purchase commitment of borrower loans	18,400,000
Maximum potential future payments	3,600,000,000
Accrued repurchase and indemnification obligation	$ 400,000	$ 300,000

RELATED PARTIES - Additional In

RELATED PARTIES - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023
Related Party Transactions [Abstract]
Minimum percentage of voting securities considered for related parties (more than)	10%
Minimum percentage of stockholders considered for related parties	10%

RELATED PARTIES - Aggregate Amo

RELATED PARTIES - Aggregate Amount of Notes Purchased and the Income Earned (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Executive officers and management
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	$ 9	$ 9	$ 26	$ 28
Interest Earned on Notes and Borrower Loans	2	2	6	6
Payable to Related Party	53		53		$ 52
Executive officers and management | Prosper Funding LLC
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	8	8	23	26
Interest Earned on Notes and Borrower Loans	2	2	6	5
Payable to Related Party	47		47		45
Directors (excluding executive officers and management)
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	0	0	0	0
Interest Earned on Notes and Borrower Loans	0	0	0	1
Payable to Related Party	2		2		6
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
Payable to Related Party	0		0		0
Management
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	9	9	26	28
Interest Earned on Notes and Borrower Loans	2	2	6	7
Payable to Related Party	55		55		58
Management | Prosper Funding LLC
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	8	8	23	26
Interest Earned on Notes and Borrower Loans	2	$ 2	6	$ 5
Payable to Related Party	$ 47		$ 47		$ 45

SIGNIFICANT CONCENTRATIONS (Det

SIGNIFICANT CONCENTRATIONS (Details)	3 Months Ended			9 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Concentration Risk [Line Items]
Transaction fee cap percentage		5%
Forecast
Concentration Risk [Line Items]
Transaction fee cap percentage	7.99%
Warehouse VIE
Concentration Risk [Line Items]
Percentage of loan purchased			13.50%	10.50%	12.10%
Related Party One
Concentration Risk [Line Items]
Percentage of loan purchased		20.80%	23.40%	13.30%	23.70%
Related Party Two
Concentration Risk [Line Items]
Percentage of loan purchased		14.20%	12.70%	11.60%	10.30%
Related Party Three
Concentration Risk [Line Items]
Percentage of loan purchased		14.20%	10.20%	11.60%

SEGMENTS - Additional Informati

SEGMENTS - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 segment
Segment Reporting [Abstract]
Number of reporting segments	3
Number of operating segments	3

SEGMENTS - Segment Information

SEGMENTS - Segment Information Reconciled (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Total Net Revenue	$ 33,200	$ 60,410	$ 105,103	$ 154,264
Impact of interest rates on fair value of loans held in consolidated trusts	1,023	4,721	8,267	10,056
Accelerated amortization of PWIIT debt issuance costs	(1,880)		(1,880)
Segment Adjusted Net Revenue	36,103	65,131	115,250	164,320
Segment Adjusted EBITDA	(6,058)	5,242	(21,294)	9,916
Depreciation expense:
Origination and Servicing	(2,060)	(2,175)	(6,526)	(6,155)
General and Administration - Other	(500)	(674)	(1,616)	(1,961)
Amortization of intangibles	(27)	(34)	(81)	(102)
Stock-based compensation	(413)	(496)	(1,185)	(1,295)
Change in Fair Value of Convertible Preferred Stock Warrants	(16,706)	11,374	(44,430)	88,860
Gain on Forgiveness of PPP Loan	0	0	0	8,604
Impact of interest rates on fair value of loans held in consolidated trusts	(1,023)	(4,721)	(8,267)	(10,056)
Interest income on cash and cash equivalents	762	125	1,475	167
Interest Expense on Term Loan	(3,202)		(9,023)
Accelerated amortization of PWIIT debt issuance costs	1,880		1,880
Net (Loss) Income Before Taxes	(31,107)	8,641	(92,827)	87,978
Interest Income (Expense) Included in Segment Adjusted EBITDA
Interest Income on Borrower Loans and Loans Held for Sale	29,388	22,351	88,773	61,013
Interest Expense on Financial Instruments	(25,208)	(15,609)	(69,771)	(41,479)
Total Interest Income, Net	6,060	6,742	20,882	19,534
Personal Loan
Segment Reporting Information [Line Items]
Total Net Revenue	20,686	53,755	79,917	141,846
Impact of interest rates on fair value of loans held in consolidated trusts	1,023	4,721	8,267	10,056
Accelerated amortization of PWIIT debt issuance costs	(1,880)		(1,880)
Segment Adjusted Net Revenue	23,589	58,476	90,064	151,902
Segment Adjusted EBITDA	(9,159)	6,682	(19,989)	19,880
Depreciation expense:
Accelerated amortization of PWIIT debt issuance costs	1,880		1,880
Interest Income (Expense) Included in Segment Adjusted EBITDA
Interest Income on Borrower Loans and Loans Held for Sale	29,388	22,351	88,773	61,013
Interest Expense on Financial Instruments	(25,208)	(15,609)	(69,771)	(41,479)
Total Interest Income, Net	6,060	6,742	20,882	19,534
Home Equity
Segment Reporting Information [Line Items]
Total Net Revenue	559	1,158	1,216	2,507
Impact of interest rates on fair value of loans held in consolidated trusts	0	0	0	0
Accelerated amortization of PWIIT debt issuance costs	0		0
Segment Adjusted Net Revenue	559	1,158	1,216	2,507
Segment Adjusted EBITDA	(1,049)	(117)	(2,813)	(1,250)
Depreciation expense:
Accelerated amortization of PWIIT debt issuance costs	0		0
Interest Income (Expense) Included in Segment Adjusted EBITDA
Interest Income on Borrower Loans and Loans Held for Sale	0		0	0
Interest Expense on Financial Instruments	0		0	0
Total Interest Income, Net	0		0	0
Credit Card
Segment Reporting Information [Line Items]
Total Net Revenue	11,955	5,497	23,970	9,911
Impact of interest rates on fair value of loans held in consolidated trusts	0	0	0	0
Accelerated amortization of PWIIT debt issuance costs	0		0
Segment Adjusted Net Revenue	11,955	5,497	23,970	9,911
Segment Adjusted EBITDA	4,150	(1,323)	1,508	(8,714)
Depreciation expense:
Accelerated amortization of PWIIT debt issuance costs	0		0
Interest Income (Expense) Included in Segment Adjusted EBITDA
Interest Income on Borrower Loans and Loans Held for Sale	0	0	0	0
Interest Expense on Financial Instruments	0	0	0	0
Total Interest Income, Net	$ 0	$ 0	$ 0	$ 0