Prosper Funding 10-Q 10 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Nov. 07, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Entity File Number	333-225797-01
Entity Registrant Name	PROSPER MARKETPLACE, INC.
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001416265
Document Fiscal Year Focus	2022
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	593-5400
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		74,069,871
Prosper Funding LLC
Entity Information [Line Items]
Entity File Number	333-225797
Entity Registrant Name	PROSPER FUNDING LLC
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001542574
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-4526070
Entity Address, Address Line One	221 Main Street
Entity Address, Address Line Two	3rd Floor
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	593-5400
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Assets:
Cash and Cash Equivalents		$ 43,530	$ 67,700
Restricted Cash	[1]	159,323	167,925
Accounts Receivable		2,265	1,054
Loans Held for Sale, at Fair Value	[1]	398,209	243,170
Borrower Loans, at Fair Value		302,971	267,626
Property and Equipment, Net		39,280	29,714
Prepaid and Other Assets	[1]	18,134	6,238
Servicing Assets		12,269	8,761
Goodwill		36,368	36,368
Intangible Assets, Net		226	328
Total Assets		1,012,575	828,884
Liabilities, Convertible Preferred Stock and Stockholders' Deficit:
Accounts Payable and Accrued Liabilities		41,016	25,790
Payable to Investors		137,020	152,794
Notes, at Fair Value		301,079	265,985
Warehouse Lines	[1]	354,799	209,275
Other Liabilities		26,966	23,900
Convertible Preferred Stock Warrant Liability		162,081	250,941
Total Liabilities		1,022,961	928,685
Commitments and Contingencies (Note $16)
Stockholders' Deficit:
Common Stock – $0.01 par value; 625,000,000 shares authorized; 74,950,409 shares issued and 74,014,474 shares outstanding, as of September 30, 2022; 73,089,929 shares issued and 72,153,994 shares outstanding, as of December 31, 2021		264	245
Additional Paid-In Capital		158,734	157,256
Less: Treasury Stock		(23,417)	(23,417)
Accumulated Deficit		(466,334)	(554,252)
Total Stockholders' Deficit		(330,753)	(420,168)
Total Liabilities, Convertible Preferred Stock and Stockholders' Deficit		1,012,575	828,884
Consolidated Entity, Excluding Consolidated VIE
Liabilities, Convertible Preferred Stock and Stockholders' Deficit:
Convertible Preferred Stock		322,748	322,748
Primary Beneficiary
Assets:
Restricted Cash		7,313	5,128
Loans Held for Sale, at Fair Value		398,209	243,170
Prepaid and Other Assets		4,241	2,846
Total Assets		409,763	251,144
Liabilities, Convertible Preferred Stock and Stockholders' Deficit:
Warehouse Lines		354,799	209,275
Total Liabilities		354,799	209,275
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. See Note 10, Debt, to our Notes to Condensed Consolidated Financial Statements for add itional information. September 30, 2022 December 31, 2021 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 7,313 $ 5,128 Loans Held for Sale, at Fair Value 398,209 243,170 Prepaid and Other Assets 4,241 2,846 Total assets of consolidated variable interest entities $ 409,763 $ 251,144 Liabilities of consolidated VIEs, included in total liabilities above: Warehouse Lines $ 354,799 $ 209,275 Total liabilities of consolidated variable interest entities $ 354,799 $ 209,275

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 20, 2017
Convertible preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Convertible preferred stock, authorized (in shares)	444,760,848	444,760,848	444,760,848
Convertible preferred stock, issued (in shares)	209,613,570	209,613,570
Convertible preferred stock, outstanding (in shares)	209,613,570	209,613,570
Convertible preferred stock, aggregate liquidation preference	$ 370,456	$ 370,456
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, authorized (in shares)	625,000,000	625,000,000	625,000,000
Common stock, issued (in shares)	74,950,409	73,089,929
Common stock, outstanding (in shares)	74,014,474	72,153,994
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, 2022	Dec. 31, 2021
Assets:
Cash and Cash Equivalents		$ 43,530	$ 67,700
Restricted Cash	[1]	159,323	167,925
Borrower Loans, at Fair Value		302,971	267,626
Servicing Assets		12,269	8,761
Total Assets		1,012,575	828,884
Liabilities and Member's Equity:
Accounts Payable and Accrued Liabilities		41,016	25,790
Payable to Investors		137,020	152,794
Notes, at Fair Value		301,079	265,985
Other Liabilities		26,966	23,900
Total Liabilities		1,022,961	928,685
Stockholders' Deficit:
Accumulated Deficit		(466,334)	(554,252)
Total Stockholders' Deficit		(330,753)	(420,168)
Total Liabilities, Convertible Preferred Stock and Stockholders' Deficit		1,012,575	828,884
Prosper Funding LLC
Assets:
Cash and Cash Equivalents		5,691	10,765
Restricted Cash		147,007	157,111
Borrower Loans, at Fair Value		302,971	267,626
Property and Equipment, Net		9,073	7,907
Servicing Assets		14,074	9,796
Other Assets		243	317
Total Assets		479,059	453,522
Liabilities and Member's Equity:
Accounts Payable and Accrued Liabilities		4,929	1,818
Payable to Related Party		4,739	1,306
Payable to Investors		138,326	153,681
Notes, at Fair Value		301,079	265,985
Other Liabilities		3,371	2,434
Total Liabilities		452,444	425,224
Stockholders' Deficit:
Member's Equity		11,404	11,404
Accumulated Deficit		15,211	16,894
Total Stockholders' Deficit		26,615	28,298
Total Liabilities, Convertible Preferred Stock and Stockholders' Deficit		$ 479,059	$ 453,522
[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. See Note 10, Debt, to our Notes to Condensed Consolidated Financial Statements for add itional information. September 30, 2022 December 31, 2021 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 7,313 $ 5,128 Loans Held for Sale, at Fair Value 398,209 243,170 Prepaid and Other Assets 4,241 2,846 Total assets of consolidated variable interest entities $ 409,763 $ 251,144 Liabilities of consolidated VIEs, included in total liabilities above: Warehouse Lines $ 354,799 $ 209,275 Total liabilities of consolidated variable interest entities $ 354,799 $ 209,275

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating Revenues:
(Loss) Gain on Sale of Borrower Loans	$ (1,145)	$ 1,928	$ 3,886	$ 4,917
Total Operating Revenues	55,328	30,453	140,716	83,645
Interest Income (Expense):
Interest Income on Borrower Loans and Loans Held for Sale	22,351	21,495	61,013	64,441
Interest Expense on Financial Instruments	(15,609)	(13,091)	(41,479)	(38,969)
Total Interest Income, Net	6,742	8,404	19,534	25,472
Change in Fair Value of Financial Instruments, Net	(1,660)	(2,071)	(5,986)	(4,481)
Total Net Revenue	60,410	36,786	154,264	104,636
Expenses:
Origination and Servicing	16,238	8,983	41,277	26,038
Sales and Marketing	26,158	8,860	62,243	24,486
General and Administrative	21,055	18,842	61,035	54,815
Change in Fair Value of Convertible Preferred Stock Warrants	(11,374)	86,728	(88,860)	136,845
Gain on Forgiveness of PPP Loan	0	0	(8,604)	0
Loss on Deconsolidation of VIEs	0	(1,494)	0	(1,494)
Other Income, Net	(308)	(81)	(805)	(350)
Total Expenses	51,769	124,826	66,286	243,328
Net Income (Loss) Before Taxes	8,641	(88,040)	87,978	(138,692)
Income Tax Expense	(20)	(21)	(60)	(63)
Net Income (Loss)	8,621	(88,061)	87,918	(138,755)
Less: Net Income Allocated to Participating Securities	(5,772)	0	(59,054)	0
Net Income (Loss) Attributable to Common Stockholders	$ 2,849	$ (88,061)	$ 28,864	$ (138,755)
Net Income (Loss) Per Share – Basic (in dollars per share)	$ 0.04	$ (1.24)	$ 0.40	$ (1.97)
Net Income (Loss) Per Share - Diluted (in dollars per share)	$ 0.01	$ (1.24)	$ 0.08	$ (1.97)
Weighted-Average Shares - Basic (in shares)	73,731,925	71,068,442	73,010,111	70,433,182
Weighted-Average Shares - Diluted (in shares)	341,959,266	71,068,442	348,703,804	70,433,182
Transaction Fees, Net
Operating Revenues:
Revenues	$ 50,778	$ 23,626	$ 120,249	$ 65,397
Servicing Fees, Net
Operating Revenues:
Revenues	4,153	3,840	11,514	10,807
Other Revenue
Operating Revenues:
Revenues	$ 1,542	$ 1,059	$ 5,067	$ 2,524

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) - Prosper Funding LLC - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating Revenues:
(Loss) Gain on Sale of Borrower Loans	$ (1,145)	$ 1,928	$ 3,886	$ 4,917
Total Operating Revenues	55,328	30,453	140,716	83,645
Interest Income (Expense):
Interest Income on Borrower Loans and Loans Held for Sale	22,351	21,495	61,013	64,441
Interest Expense on Financial Instruments	(15,609)	(13,091)	(41,479)	(38,969)
Total Interest Income, Net	6,742	8,404	19,534	25,472
Change in Fair Value of Financial Instruments, Net	(1,660)	(2,071)	(5,986)	(4,481)
Expenses:
General and Administrative	21,055	18,842	61,035	54,815
Total Expenses	51,769	124,826	66,286	243,328
Net Income (Loss)	8,621	(88,061)	87,918	(138,755)
Prosper Funding LLC
Operating Revenues:
(Loss) Gain on Sale of Borrower Loans	(346)	2,404	5,611	6,078
Total Operating Revenues	23,715	15,871	63,606	42,612
Interest Income (Expense):
Interest Income on Borrower Loans and Loans Held for Sale	11,592	9,574	33,228	27,130
Interest Expense on Financial Instruments	(10,758)	(8,935)	(30,945)	(25,366)
Total Interest Income, Net	834	639	2,283	1,764
Change in Fair Value of Financial Instruments, Net	(149)	371	118	527
Total Net Revenues	24,400	16,881	66,007	44,903
Expenses:
Administration Fee - Related Party	21,966	13,686	55,773	38,653
Servicing	2,256	1,830	5,778	4,729
General and Administrative	143	108	439	364
Total Expenses	24,365	15,624	61,990	43,746
Net Income (Loss)	35	1,257	4,017	1,157
Administration Fee Revenue - Related Party | Prosper Funding LLC
Operating Revenues:
Revenues	18,234	9,066	42,385	24,247
Servicing Fees, Net
Operating Revenues:
Revenues	4,153	3,840	11,514	10,807
Servicing Fees, Net | Prosper Funding LLC
Operating Revenues:
Revenues	5,695	3,954	14,808	11,483
Other Revenue
Operating Revenues:
Revenues	1,542	1,059	5,067	2,524
Other Revenue | Prosper Funding LLC
Operating Revenues:
Revenues	$ 132	$ 447	$ 802	$ 804

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Other Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 8,621	$ (88,061)	$ 87,918	$ (138,755)
Other Comprehensive Income (Loss), Before Tax:
Other Comprehensive Income (Loss), Before Tax	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax:	0	0	0	0
Comprehensive Income (Loss), Net of Tax	$ 8,621	$ (88,061)	$ 87,918	$ (138,755)

Condensed Consolidated Statem_4

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, 2020		209,613,570	(51,247,915)
Beginning balance at Dec. 31, 2020		$ 322,748	$ (2,381)
Ending balance (in shares) at Mar. 31, 2021		209,613,570	(51,247,915)
Ending balance at Mar. 31, 2021		$ 322,748	$ (2,381)
Beginning balance (in shares) at Dec. 31, 2020				74,316,607
Beginning balance at Dec. 31, 2020	$ (283,161)			$ 215	$ (23,417)	$ 155,952	$ (415,911)
Beginning balance (in shares) at Dec. 31, 2020					(5,177,235)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				1,624,461
Exercise of vested stock options	34			$ 17		17
Stock-based compensation expense	353					353
Net Income (Loss)	(44,889)						(44,889)
Ending balance (in shares) at Mar. 31, 2021				75,941,068
Ending balance at Mar. 31, 2021	(327,663)			$ 232	$ (23,417)	156,322	(460,800)
Ending balance (in shares) at Mar. 31, 2021					(5,177,235)
Beginning balance (in shares) at Dec. 31, 2020		209,613,570	(51,247,915)
Beginning balance at Dec. 31, 2020		$ 322,748	$ (2,381)
Ending balance (in shares) at Sep. 30, 2021		209,613,570	(51,247,915)
Ending balance at Sep. 30, 2021		$ 322,748	$ (2,381)
Beginning balance (in shares) at Dec. 31, 2020				74,316,607
Beginning balance at Dec. 31, 2020	(283,161)			$ 215	$ (23,417)	155,952	(415,911)
Beginning balance (in shares) at Dec. 31, 2020					(5,177,235)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				2,182,346
Exercise of vested stock options	44			$ 22		22
Stock-based compensation expense	947					947
Net Income (Loss)	(138,755)						(138,755)
Ending balance (in shares) at Sep. 30, 2021				76,498,953
Ending balance at Sep. 30, 2021	(420,925)			$ 237	$ (23,417)	156,921	(554,666)
Ending balance (in shares) at Sep. 30, 2021					(5,177,235)
Beginning balance (in shares) at Mar. 31, 2021		209,613,570	(51,247,915)
Beginning balance at Mar. 31, 2021		$ 322,748	$ (2,381)
Ending balance (in shares) at Jun. 30, 2021		209,613,570	(51,247,915)
Ending balance at Jun. 30, 2021		$ 322,748	$ (2,381)
Beginning balance (in shares) at Mar. 31, 2021				75,941,068
Beginning balance at Mar. 31, 2021	(327,663)			$ 232	$ (23,417)	156,322	(460,800)
Beginning balance (in shares) at Mar. 31, 2021					(5,177,235)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				129,997
Exercise of vested stock options	2			$ 1		1
Stock-based compensation expense	292					292
Net Income (Loss)	(5,805)						(5,805)
Ending balance (in shares) at Jun. 30, 2021				76,071,065
Ending balance at Jun. 30, 2021	(333,174)			$ 233	$ (23,417)	156,615	(466,605)
Ending balance (in shares) at Jun. 30, 2021					(5,177,235)
Ending balance (in shares) at Sep. 30, 2021		209,613,570	(51,247,915)
Ending balance at Sep. 30, 2021		$ 322,748	$ (2,381)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of vested stock options (in shares)				427,888
Exercise of vested stock options	8			$ 4		4
Stock-based compensation expense	302					302
Net Income (Loss)	(88,061)						(88,061)
Ending balance (in shares) at Sep. 30, 2021				76,498,953
Ending balance at Sep. 30, 2021	$ (420,925)			$ 237	$ (23,417)	156,921	(554,666)
Ending balance (in shares) at Sep. 30, 2021					(5,177,235)
Beginning balance (in shares) at Dec. 31, 2021	209,613,570	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	72,153,994			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 Income (Loss)	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	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	209,613,570	(51,247,915)
Ending balance at Sep. 30, 2022		$ 322,748	$ (2,381)
Beginning balance (in shares) at Dec. 31, 2021	72,153,994			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 Income (Loss)	$ 87,918						87,918
Ending balance (in shares) at Sep. 30, 2022	74,014,474			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 Income (Loss)	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	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 Income (Loss)	$ 8,621						8,621
Ending balance (in shares) at Sep. 30, 2022	74,014,474			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)

Condensed Consolidated Statem_5

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, 2020	$ (283,161)	$ (415,911)	$ 25,088	$ 13,684	$ 11,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(44,889)	(44,889)	(1,204)	(1,204)
Ending balance at Mar. 31, 2021	(327,663)	(460,800)	23,884	12,480	11,404
Beginning balance at Dec. 31, 2020	(283,161)	(415,911)	25,088	13,684	11,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(138,755)	(138,755)	1,157	1,157
Ending balance at Sep. 30, 2021	(420,925)	(554,666)	26,245	14,841	11,404
Beginning balance at Mar. 31, 2021	(327,663)	(460,800)	23,884	12,480	11,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(5,805)	(5,805)	1,104	1,104
Ending balance at Jun. 30, 2021	(333,174)	(466,605)	24,988	13,584	11,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(88,061)	(88,061)	1,257	1,257
Ending balance at Sep. 30, 2021	(420,925)	(554,666)	26,245	14,841	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]
Net Income (Loss)	36,632	36,632	1,445	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)
Net Income (Loss)	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 Income (Loss)	42,665	42,665	2,537	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 Income (Loss)	8,621	8,621	35	35
Ending balance at Sep. 30, 2022	$ (330,753)	$ (466,334)	$ 26,615	$ 20,911	$ 5,704

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022		Sep. 30, 2021
Cash flows from Operating Activities:
Net Income (Loss)	$ 87,918		$ (138,755)
Adjustments to Reconcile Net Loss to Net Cash (Used in) Provided by Operating Activities:
Change in Fair Value of Financial Instruments, Net	5,986		4,481
Depreciation and Amortization	8,218		7,224
Amortization of Operating Lease Right-of-use Asset	2,652		2,811
Gain on Termination of Operating Lease Right-of-use Asset	(88)		0
Gain on Sale of Borrower Loans	(9,888)		(5,673)
Change in Fair Value of Servicing Rights	6,510		6,214
Stock-Based Compensation Expense	1,295		857
Change in Fair Value of Convertible Preferred Stock Warrants	(88,860)		136,846
Gain on Forgiveness of PPP Loan	(8,604)		0
Loss on Deconsolidation of VIEs (Note 6)	0		1,494
Other, Net	37		1,888
Changes in Operating Assets and Liabilities:
Purchase of Loans Held for Sale at Fair Value	(2,271,312)		(1,248,316)
Proceeds from Sales and Principal Payments of Loans Held for Sale at Fair Value	2,100,314		1,262,896
Accounts Receivable	(1,211)		(144)
Prepaid and Other Assets	(1,105)		(475)
Accounts Payable and Accrued Liabilities	15,082		6,139
Payable to Investors	(15,774)		17,021
Other Liabilities	1,604		(3,357)
Net Cash (Used in) Provided by Operating Activities	(167,226)		51,151
Cash Flows from Investing Activities:
Purchase of Borrower Loans Held at Fair Value	(214,271)		(172,082)
Proceeds from Sales and Principal Payments of Borrower Loans Held at Fair Value	158,032		190,893
Purchases of Property and Equipment	(10,055)		(8,881)
Net Cash (Used in) Provided by Investing Activities	(66,294)		9,930
Cash Flows from Financing Activities:
Proceeds from Issuance of Notes Held at Fair Value	214,107		172,231
Payments of Notes Held at Fair Value	(158,105)		(126,528)
Principal Payments on Notes Issued by Securitization Trust	0		(87,700)
Principal Payments on Certificates Issued by Securitization Trust	0		(14,935)
Net Cash and Restricted Cash Outflows from Deconsolidation of VIEs (Note 6)	0		(6,821)
Proceeds from Warehouse Lines	144,700		63,250
Principal Payments on Warehouse Lines	0		(59,900)
Payments of Debt Issuance Costs	0		(1,740)
Proceeds from Exercise of Stock Options	46		44
Net Cash Provided by (Used in) Financing Activities	200,748		(62,099)
Net Decrease in Cash, Cash Equivalents and Restricted Cash	(32,772)		(1,018)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	235,625		213,868
Cash, Cash Equivalents and Restricted Cash at End of the Period	202,853		212,850
Supplemental Disclosure of Cash Flow Information:
Cash Paid for Interest	39,828		38,236
Non-Cash Investing Activity- Accrual for Property and Equipment, Net	1,115		625
Non-Cash Financing Activity - Forgiveness of PPP Loan	8,604		0
Non-Cash Investing Activity - Deconsolidation of Borrower Loans, at Fair Value	0		78,361
Non-Cash Financing Activity - Deconsolidation of Notes Issued by Securitization Trust	0		69,709
Non-Cash Financing Activity - Deconsolidation of Certificates Issued by Securitization Trust, at Fair Value	0		13,979
Reconciliation to Amounts on Consolidated Balance Sheets:
Cash and Cash Equivalents	43,530		55,949
Restricted Cash	159,323	[1]	156,901
Total Cash, Cash Equivalents and Restricted Cash	$ 202,853		$ 212,850
[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. See Note 10, Debt, to our Notes to Condensed Consolidated Financial Statements for add itional information. September 30, 2022 December 31, 2021 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 7,313 $ 5,128 Loans Held for Sale, at Fair Value 398,209 243,170 Prepaid and Other Assets 4,241 2,846 Total assets of consolidated variable interest entities $ 409,763 $ 251,144 Liabilities of consolidated VIEs, included in total liabilities above: Warehouse Lines $ 354,799 $ 209,275 Total liabilities of consolidated variable interest entities $ 354,799 $ 209,275

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows (Unaudited) - Prosper Funding LLC - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022		Sep. 30, 2021
Cash flows from Operating Activities:
Net Income	$ 87,918		$ (138,755)
Adjustments to Reconcile Net Loss to Net Cash (Used in) Provided by Operating Activities:
Change in Fair Value of Financial Instruments, Net	5,986		4,481
Gain on Sale of Borrower Loans	(9,888)		(5,673)
Depreciation and Amortization	8,218		7,224
Changes in Operating Assets and Liabilities:
Purchase of Loans Held for Sale at Fair Value	(2,271,312)		(1,248,316)
Proceeds from Sales and Principal Payments of Loans Held for Sale at Fair Value	2,100,314		1,262,896
Accounts Payable and Accrued Liabilities	15,082		6,139
Payable to Investors	(15,774)		17,021
Other Liabilities	1,604		(3,357)
Net Cash (Used in) Provided by Operating Activities	(167,226)		51,151
Cash Flows from Investing Activities:
Purchase of Borrower Loans Held at Fair Value	(214,271)		(172,082)
Proceeds from Sales and Principal Payments of Borrower Loans Held at Fair Value	158,032		190,893
Purchases of Property and Equipment	(10,055)		(8,881)
Net Cash (Used in) Provided by Investing Activities	(66,294)		9,930
Cash Flows from Financing Activities:
Proceeds from Issuance of Notes Held at Fair Value	214,107		172,231
Payments of Notes Held at Fair Value	(158,105)		(126,528)
Net Cash Provided by (Used in) Financing Activities	200,748		(62,099)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	(32,772)		(1,018)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	235,625		213,868
Cash, Cash Equivalents and Restricted Cash at End of the Period	202,853		212,850
Supplemental Disclosure of Cash Flow Information:
Cash Paid for Interest	39,828		38,236
Non-Cash Investing Activity- Accrual for Property and Equipment, Net	1,115		625
Reconciliation to Amounts on Consolidated Balance Sheets:
Cash and Cash Equivalents	43,530		55,949
Restricted Cash	159,323	[1]	156,901
Total Cash, Cash Equivalents and Restricted Cash	202,853		212,850
Prosper Funding LLC
Cash flows from Operating Activities:
Net Income	4,017		1,157
Adjustments to Reconcile Net Loss to Net Cash (Used in) Provided by Operating Activities:
Change in Fair Value of Financial Instruments, Net	(118)		(527)
Other Non-Cash Changes in Borrower Loans, Loans Held for Sale and Notes	104		18
Gain on Sale of Borrower Loans	(11,384)		(6,675)
Change in Fair Value of Servicing Rights	7,106		7,795
Depreciation and Amortization	4,168		3,540
Changes in Operating Assets and Liabilities:
Purchase of Loans Held for Sale at Fair Value	(2,271,312)		(1,248,316)
Proceeds from Sales and Principal Payments of Loans Held for Sale at Fair Value	2,271,312		1,248,316
Other Assets	74		(65)
Accounts Payable and Accrued Liabilities	3,111		(491)
Payable to Investors	(15,355)		15,793
Net Related Party Receivable/Payable	2,761		(704)
Other Liabilities	937		(160)
Net Cash (Used in) Provided by Operating Activities	(4,579)		19,681
Cash Flows from Investing Activities:
Purchase of Borrower Loans Held at Fair Value	(214,271)		(172,082)
Proceeds from Sales and Principal Payments of Borrower Loans Held at Fair Value	158,032		126,741
Purchases of Property and Equipment	(4,662)		(5,361)
Net Cash (Used in) Provided by Investing Activities	(60,901)		(50,702)
Cash Flows from Financing Activities:
Proceeds from Issuance of Notes Held at Fair Value	214,107		172,231
Payments of Notes Held at Fair Value	(158,105)		(126,528)
Cash Distributions to Parent	(5,700)		0
Net Cash Provided by (Used in) Financing Activities	50,302		45,703
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash	(15,178)		14,682
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period	167,876		140,924
Cash, Cash Equivalents and Restricted Cash at End of the Period	152,698		155,606
Supplemental Disclosure of Cash Flow Information:
Cash Paid for Interest	30,632		25,571
Non-Cash Investing Activity- Accrual for Property and Equipment, Net	906		480
Reconciliation to Amounts on Consolidated Balance Sheets:
Cash and Cash Equivalents	5,691		8,362
Restricted Cash	147,007		147,244
Total Cash, Cash Equivalents and Restricted Cash	$ 152,698		$ 155,606
[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. See Note 10, Debt, to our Notes to Condensed Consolidated Financial Statements for add itional information. September 30, 2022 December 31, 2021 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 7,313 $ 5,128 Loans Held for Sale, at Fair Value 398,209 243,170 Prepaid and Other Assets 4,241 2,846 Total assets of consolidated variable interest entities $ 409,763 $ 251,144 Liabilities of consolidated VIEs, included in total liabilities above: Warehouse Lines $ 354,799 $ 209,275 Total liabilities of consolidated variable interest entities $ 354,799 $ 209,275

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2022
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, 2021. The balance sheet at December 31, 2021 has been derived from the audited financial statements at that date. Management believes these unaudited interim condensed consolidated financial statements reflect all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the results for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. The preparation of Prosper’s condensed consolidated financial statements and related disclosures in conformity with US GAAP requires management to make judgments, assumptions and estimates that affect the amounts reported in Prosper’s financial statements and accompanying notes. Management bases its estimates on historical experience and on various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of certain assets and liabilities. These judgments, estimates and assumptions are inherently subjective in nature and actual results may differ from these estimates and assumptions. The accompanying interim condensed consolidated financial statements include the accounts of PMI, its wholly-owned subsidiaries and consolidated variable interest entities (“VIEs”). All intercompany balances have been eliminated in consolidation.
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, 2021. The balance sheet at December 31, 2021 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, 2022 and 2021. 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, 2022
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, 2021. There have been no changes to these accounting policies during the first nine months of 2022, except as those related to our Credit Card product, as described below. Fair Value Measurements Financial instruments measured at fair value consist principally of Borrower Loans, Loans Held for Sale (Note 4), Servicing Assets (Note 6), Credit Card derivative asset (Note 5), Loan Trailing Fee Liabilities (Note 9), Notes and Convertible Preferred Stock Warrant Liability (Note 12). 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 Warehouse Lines (Note 10) do not approximate their carrying values due primarily to differences in the stated and market rates associated with these instruments. Refer to Note 7, Fair Value of Assets and Liabilities, for additional fair value disclosures. Restricted Cash Restricted Cash consists primarily of cash deposits, money market funds and short-term certificate of deposit accounts held as collateral as required for long term leases, loan funding and servicing activities, and cash that investors have on our marketplace that has not yet been invested in Borrower Loans or disbursed to the investor. Borrower Loans, Loans Held for Sale 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 10, Debt for more details on Warehouse Lines. Borrower Loans and Loans Held for Sale are purchased from WebBank. Prosper places Borrower Loans and Loans Held for Sale on non-accrual status when they are 120 days past due. When a loan is placed on non-accrual status, Prosper stops accruing interest and reverses all accrued but unpaid interest as of such date. Additionally, Prosper charges-off Borrower Loans and Loans Held for Sale when they are 120 days past due. The fair value of loans 120 or more days past due generally consists of the expected recovery from debt sales in subsequent periods. Prosper has elected the fair value option for Borrower Loans, Loans Held for Sale 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, Net” 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 In December 2021, the Company launched its Prosper Credit Card product in partnership with Coastal Community Bank (“Coastal”), through which eligible consumers are extended unsecured credit through Prosper-branded Credit Cards. In accordance with the related Program Agreement between Prosper and Coastal, the receivables associated with these Credit Cards are maintained on the balance sheet of Coastal. Customer accounts are then randomly designated as either Prosper Allocations or Coastal Allocations on an approximate 90% to 10% split, respectively. Each party receives 100% of the interest income and is responsible for the credit losses on its allocated customer accounts. Prosper is responsible for verified fraud losses across the entire portfolio. The Company evaluated the terms of the Program Agreement 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 in “Prepaid and Other Assets” on the accompanying condensed consolidated balance sheets. Changes in the fair value of the Credit Card derivative are included in “Changes in Fair Value of Financial Instruments, Net” on the accompanying condensed consolidated statements of operations. Refer to Note 5, Credit Card, for additional details on revenues and expenses related to the Prosper Credit Card product. Leases Management determines if an arrangement is a lease at inception. Operating lease right-of-use (“ROU”) assets and operating lease liabilities are included on the Consolidated Balance Sheets in Property and Equipment, Net and in Other Liabilities, respectively. For certain leases with original terms of twelve months or less, PMI recognizes the lease expense as incurred and does not record ROU assets and lease liabilities. If a contract contains a lease, management evaluates whether it should be classified as an operating or finance lease. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. As most of PMI's leases do not provide an implicit rate, management uses an incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The operating lease ROU assets are evaluated for impairment utilizing the same impairment model used for Property and Equipment. Consolidation of Variable Interest Entities The determination of whether to consolidate a VIE in which we have a variable interest requires a significant amount of analysis and judgment regarding whether we are the primary beneficiary of a VIE due to our holding a controlling financial interest in the VIE. A controlling financial interest in a VIE exists if we have both the power to direct the VIE’s activities that most significantly affect the VIE’s economic performance and a potentially significant economic interest in the VIE. The determination of whether an entity is a VIE considers factors, such as (i) whether the entity’s equity investment at risk is insufficient to allow the entity to finance its activities without additional subordinated financial support and (ii) whether a holder’s equity investment at risk lacks any of the following characteristics of a controlling financial interest: the direct or indirect ability through voting rights or similar rights to make decisions about a legal entity’s activities that have a significant effect on the entity’s success, the obligation to absorb the expected losses of the entity or the right to receive the expected residual returns of the legal entity. Management regularly reviews and reconsiders its previous conclusions regarding the status of an entity as a VIE and whether we are required to consolidate 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. This ASU can be adopted after its issuance date through December 31, 2022. The Company is currently evaluating the impact reference rate reform will have on its contracts that reference LIBOR in order to determine whether to adopt this guidance.
Prosper Funding LLC
Entity Information [Line Items]
SUMMARY OF SIGNIFICANT 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, 2021. There have been no changes to these accounting policies during the first nine months of 2021. Fair Value Measurements Financial instruments consist principally of Cash and Cash Equivalents, Restricted Cash, Borrower Loans, Loans Held for Sale, Accounts Receivable, Accounts Payable and Accrued Liabilities, Payable to Investors and Notes. The estimated fair values of Cash and Cash Equivalents, Restricted Cash, Accounts Receivable, Accounts Payable and Accrued Liabilities, and Payable to Investors approximate their carrying values because of their short-term nature. Refer to Note 7 for additional fair value disclosures. Restricted Cash Restricted Cash consists primarily of cash deposits, money market funds and short-term certificate of deposit accounts held as collateral as required for long term leases, loan funding and servicing activities, and cash that investors have on our marketplace that has not yet been invested in Borrower Loans or disbursed to the investor. Borrower Loans, Loans Held for Sale and Notes With respect to the Note Channel, PFL purchases Borrower Loans from WebBank, then issues Notes and holds the Borrower Loans until maturity. The obligation to repay a series of Notes funded through the Note Channel is dependent upon the repayment of the associated Borrower Loan. Borrower Loans and Notes funded through the Note Channel are carried on PFL’s condensed consolidated balance sheets as assets and liabilities, respectively. PFL places Borrower Loans and Loans Held for Sale on non-accrual status when they are 120 days past due. When a loan is placed on non-accrual status, PFL stops accruing interest and reverses all accrued but unpaid interest as of such date. Additionally, PFL charges-off Borrower Loans and Loans Held for Sale when they are 120 days past due. The fair value of loans 120 days past due generally consists of the expected recovery from debt sales in subsequent periods. Management has elected the fair value option for Borrower Loans, Loans Held for Sale, and Notes. Changes in fair value of Borrower Loans are largely offset by the changes in fair value of Notes due to the borrower payment-dependent design of the Notes. Changes in fair value of Borrower Loans, Loans Held for Sale and Notes are included in “Change in Fair Value of Borrower Loans, Loans Held for Sale and Notes, Net” on the condensed consolidated statements of operations. PFL primarily uses a discounted cash flow model to estimate the fair value of Borrower Loans, Loans Held for Sale and Notes. The key assumptions used in the valuation include default rates and prepayment rates derived primarily from historical performance and discount rates based on estimates of the rates of return that investors would require when investing in financial instruments with similar characteristics. Recent Accounting Pronouncements Accounting Standards Adopted In The Current Period No accounting standards were adopted in the current period for PFL. Accounting Standards Issued, To Be Adopted By PFL In Future Periods No issued and pending accounting standards were identified that are expected to have an impact on PFL.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	9 Months Ended
	Sep. 30, 2022
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, 2022 December 31, 2021 Internal-use software and website development costs $ 44,412 $ 41,816 Operating lease right-of-use assets 27,157 17,485 Computer equipment 13,188 15,090 Leasehold improvements 7,157 7,167 Office equipment and furniture 2,961 2,961 Assets not yet placed in service 6,634 5,224 Property and equipment 101,509 89,743 Less: Accumulated depreciation and amortization (62,229) (60,029) Total Property and Equipment, Net $ 39,280 $ 29,714 Depreciation and amortization expense for Property and Equipment, Net for the three months ended September 30, 2022 and September 30, 2021 wa s $2.9 million an d $2.5 million, respectively. Depreciation and amortization expense for Property and Equipment, Net for the nine months ended September 30, 2022 and September 30, 2021 wa s $8.2 million an d $7.1 million , respectively. These charges are included in General and Administrative expenses on the condensed consolidated statements of operations. PMI capitalized internal-use software and website development costs in the amount of $2.8 million and $2.6 million for the three months ended September 30, 2022 and September 30, 2021, respectively. PMI capitalized internal-use software and website development costs in the amount of $8.1 million and $7.1 million for the nine months ended
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, 2022 December 31, 2021 Internal-use software and web site development costs $ 33,141 $ 31,979 Less accumulated depreciation and amortization (24,068) (24,072) Total property and equipment, net $ 9,073 $ 7,907

BORROWER LOANS, LOANS HELD FOR

BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE	9 Months Ended
	Sep. 30, 2022
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, 2022 and December 31, 2021, are presented in the following table (in thousands): Borrower Loans Loans Held for Sale Notes September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Aggregate principal balance outstanding $ 312,059 $ 265,232 $ 406,421 $ 242,278 $ 315,023 $ 267,415 Fair value adjustments (9,088) 2,394 (8,212) 892 (13,944) (1,430) Fair value $ 302,971 $ 267,626 $ 398,209 $ 243,170 $ 301,079 $ 265,985 Borrower Loans As of September 30, 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 h a d various original maturity dates through September 2027 . As of December 31, 2021, outstanding Borrower Loans had original terms to maturity of either 36 or 60 months, had monthly payments with fixed interest rates ranging from 5.31% to 31.82%, and had various original maturity dates through December 2026. As of September 30, 2022, Borrower Loans that were 90 days or more delinquent ha d an aggregate principal amount o f $2.0 million and a fair value of $0.2 million. As of December 31, 2021, Borrower Loans that were 90 days or more delinquent had an aggregate principal amount of $0.9 million and a fair value of $0.1 million . Prosper places loans on non-accrual status when they are over 120 days past due. As of September 30, 2022 and December 31, 2021, Borrower Loans in non-accrual status had a fair value of $0.2 million a nd $0.1 million, respectively. Loans Held for Sale As of September 30, 2022, 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 5.31% to 33.00% and had various original maturity dates through September 2027 . As of December 31, 2021, outstanding Loans Held for Sale had original terms to maturity of either 36 or 60 months , had monthly payments with fixed interest rates ranging from 5.31% to 31.82% and had various original maturity dates through December 2026. Interest income earned on Loans Held for Sale by the Company was $27.7 million and $23.7 million for the nine months e nded September 30, 2022 and September 30, 2021, respectively. As of September 30, 2022, Loans Held for Sale that were 90 days or more delinquent had an aggregate principal amount of $1.5 million and a fair value of $0.2 million . As of December 31, 2021, Loans Held for S ale that were 90 days or more delinquent had an aggregate principal amount of $0.8 million and a fair value of $0.1 million . Prosper places loans on non-accrual status when they are over 120 days past due. As of September 30, 2022 and December 31, 2021, Loans Held for Sale in non-accrual status had a fair value of $0.1 million (for both periods).
Prosper Funding LLC
Entity Information [Line Items]
BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE	Borrower Loans and Notes, at Fair Value The aggregate principal balances outstanding and fair values of Borrower Loans and Notes as of September 30, 2022 and December 31, 2021, are presented in the following table (in thousands): Borrower Loans Notes September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Aggregate principal balance outstanding $ 312,059 $ 265,232 $ 315,023 $ 267,415 Fair value adjustments (9,088) 2,394 (13,944) (1,430) Fair value $ 302,971 $ 267,626 $ 301,079 $ 265,985 As of September 30, 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% a nd had various original maturity dates through September 2027 . As of December 31, 2021, outstanding Borrower Loans had original maturities of either 36 or 60 months, monthly payments with fixed interest rates ranging from 5.31% to 31.82% , and had various original maturity da tes through December 2026. As of September 30, 2022, Borrower Loans that were 90 days or more delinquent had an aggregate principal amount of $2.0 million and a fair value of $0.2 million. As of December 31, 2021, Borrower Loans that were 90 days or more delinquent had an aggregate principal amount of $0.9 million and a fair value of $0.1 million. PFL places loans on non-accrual status when they are over 120 days past due. As of September 30, 2022 and December 31, 2021, Borrower Loans in non-accrual status had a fair value of $0.2 million and $0.1 million , respectively.

CREDIT CARD

CREDIT CARD	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
CREDIT CARD	Credit Card Prosper recognizes gains and losses on the related Credit Card derivative within Changes in Fair Value of Financial Instruments, Net on the accompanying condensed consolidated statement of operations. For the three and nine months ended September 30, 2022, the Company recognized $3.0 million and $6.8 million, respectively, of gains from fair value changes on the Credit Card derivative. Gains from settled transactions underlying the Credit Card derivative were $1.8 million and $2.4 million, respectively, for the three and nine months ended September 30, 2022, and are also included in Changes in Fair Value of Financial Instruments, Net on the accompanying condensed consolidated statements of operations. The fair value of the Credit Card derivative asset was $7.8 million as of September 30, 2022 and is included in Prepaid and Other Assets on the accompanying condensed consolidated financial statements. The Company records revenue from various fees earned 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. For the three and nine months ended September 30, 2022, these fees totaled $2.2 million and $3.7 million, respectively, and are included in Transaction Fees on the accompanying condensed consolidated statement of operations. 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 adequate compensation 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. As of September 30, 2022, the net balance of this servicing obligation liability is $2.4 million and is included in Other Liabilities on the accompanying condensed consolidated financial statements. Changes in the fair value of the servicing obligation liability are recorded in Servicing Fees, Net on the accompanying condensed consolidated statement of operations, and totaled $1.1 million and $2.4 million for the three and nine months ended September 30, 2022, respectively.

SERVICING ASSETS

SERVICING ASSETS	9 Months Ended
	Sep. 30, 2022
Entity Information [Line Items]
SERVICING ASSETS	Servicing Assets Prosper accounts for Servicing Assets at their estimated fair values with changes in fair values recorded in Servicing Fees. The initial asset or liability is recognized when Prosper sells Borrower Loans to unrelated third-party buyers through the Whole Loan Channel and the servicing rights are retained. The Servicing Assets are measured at fair value throughout the servicing period. The Company recognized loss on the sale of such Borrower Loans in the amount of $1.1 million and gain in the amount of $1.9 million for the three months ended September 30, 2022 and 2021 , respectively, recorded in (Loss)/Gain on Sale of Borrower Loans on the condensed consolidated statements of operations. The total gains recognized on the sale of such Borrower Loans for the nine months ended September 30, 2022 and 2021 were $3.9 million and $4.9 million, respectively, recorded in (Loss)/Gain on Sale of Borrower Loans on the condensed consolidated statements of operations. As of September 30, 2022, Borrower Loans that were sold but for which Prosper retained servicing rights had a total outstanding principal balance of $3.0 billion, original terms to maturity of 24, 36, 48 or 60 months, monthly payments with fixed interest rates ranging fr om 5.31% to 33.00%, and various original maturity dates through September 2027. As of December 31, 2021, Borrower Loans that were sold but for which Prosper retained servicing rights had a total outstanding principal balance of $2.3 billion, original terms to maturity of either 36 or 60 months, monthly payments with fixed interest rates ranging from 5.31% to 31.82%, and various original maturity dates through December 2026. Contractually-specified servicing fees and ancillary fees tota ling $7.8 million a nd $6.3 million for the three months ended September 30, 2022 and 2021 , respectively, and $21.0 million and $18.1 million for the nine months ended September 30, 2022 and 2021, 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 discounting those cash flows at a rate of return that results in the fair value amount. Significant unobservable inputs presented in the table within Note 7 below are those that Prosper considers significant to the estimated fair values of the Level 3 Servicing Assets. The following is a description of the significant unobservable inputs provided in the table. Market Servicing Rate Prosper estimates adequate market servicing rates that would fairly compensate a substitute servicer should one be required, which includes the profit that would be demanded in the marketplace. This rate is stated as a fixed percentage of outstanding principal balance on a per annum basis. With the assistance of a valuation specialist, Prosper estimated these market servicing rates based on observable market rates for other loan types in the industry and bids from subservicing providers, adjusted for the unique loan attributes that are present in the specific loans that Prosper sells and services and information from backup service providers. Discount Rate The discount rate is a rate of return used to discount future expected cash flows to arrive at a present value, which represents the fair value of the loan servicing rights. We used a range of discount rates for the Servicing Assets based on comparable observed valuations of similar assets and publicly available disclosures related to servicing valuations, with comparability adjustments made to account for differences with Prosper’s servicing assets. Default Rate The default rate presented in Note 7 is an annualized, average estimate considering all Borrower Loan categories (i.e., risk ratings and duration), and represents an aggregate of conditional default rate curves for each credit grade or Borrower Loan category. Each point on a particular Borrower Loan category’s curve represents the percentage of principal expected to default per period based on the term and age of the underlying Borrower Loans. The assumption regarding defaults directly reduces servicing revenues because the amount of servicing revenues received is based on the amount collected each period. Prepayment Rate The prepayment rate presented in Note 7 is an annualized, average estimate considering all Borrower Loan categories (i.e., risk ratings and duration), and represents an aggregate of conditional prepayment rate curves for each credit grade or Borrower Loan category. Each point on a particular Borrower Loan category’s curve represents the percentage of principal expected to prepay per period based on the term and age of the underlying Borrower Loans. Prepayments reduce servicing revenues as they shorten the period over which we expect to collect fees on the Borrower Loans, which is used to project future servicing revenues.
Prosper Funding LLC
Entity Information [Line Items]
SERVICING ASSETS	Servicing Assets PFL accounts for Servicing Assets at their estimated fair values with changes in fair values recorded in Servicing Fees, Net on the condensed consolidated statements of operations. The initial asset or liability is recognized when PFL sells Borrower Loans to unrelated third-party buyers through the Whole Loa n Channel and the servicing rights are retained. The total recognized loss on the sale of such Borrow er Loans was $0.3 million for the three months ended September 30, 2022 and gain of $2.4 million for the three months ended September 30, 2021. The total recognized gain on sale of such Borrower Loans was $5.6 million and $6.1 million for the nine months ended September 30, 2022 and 2021, respectively. As of September 30, 2022, Borrower Loans that were sold, but for which PFL retained servicing rights, had a total outstanding principal balance of $3.4 billion , origi nal ter ms 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 2027 . As of December 31, 2021, Borrower Loans that were sold, but for which PFL retained servicing rights, had a total outstanding principal balance of $2.5 billion, original terms of either 36 or 60 months, monthly payments with fixed interest rates ranging from 5.31% to 31.82%, and various original maturity dates through December 2026. Contractually-specified servicing fees and ancillary fees tot aled $9.1 million and $8.8 million for the three months ended September 30, 2022 and 2021, respectively, and $24.1 million and $27.1 million for the nine months ended September 30, 2022 and 2021, respectively, and are included on the condensed consolidated statements of operations in Servicing Fees, Net. Fair Value Valuation Method PFL uses a discounted cash flow valuation methodology generally consisting of developing an estimate of future cash flows that are expected to occur over the life of a financial instrument and then discounting those cash flows at a rate of return that results in the fair value amount. Significant unobservable inputs presented in the table within Note 7 are those that PFL considers significant to the estimated fair values of the Level 3 Servicing Assets. The following is a description of the significant unobservable inputs provided in the table. Market Servicing Rate PFL estimates adequate market servicing rates that would fairly compensate a substitute servicer should one be required, which includes the profit that would be demanded in the marketplace. This rate is stated as a fixed percentage of outstanding principal balance on a per annum basis. 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.

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2022
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. Prosper did not transfer any assets or liabilities in or out of Level 3 for the nine months ended September 30, 2022 or September 30, 2021. 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 asset 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 relevant market data, adjusted as necessary based on the perceived credit risk of the underlying cardholder. 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 12 for further details. The following tables present the fair value hierarchy for assets and liabilities measured at fair value (in thousands): September 30, 2022 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Loans Held for Sale at Fair Value $ — $ — $ 398,209 $ 398,209 Borrower Loans, at Fair Value — — 302,971 302,971 LIBOR rate swaption (Note 10) — 2,103 — 2,103 Servicing Assets — — 12,269 12,269 Credit Card derivative (Note 5) — — 7,837 7,837 Total Assets $ — $ 2,103 $ 721,286 $ 723,389 Liabilities: Notes, at Fair Value $ — $ — $ 301,079 $ 301,079 Convertible Preferred Stock Warrant Liability — — 162,081 162,081 Loan trailing fee liability (Note 9) — — 3,062 3,062 Credit Card servicing obligation liability (Note 5) — — 2,381 2,381 Total Liabilities $ — $ — $ 468,603 $ 468,603 December 31, 2021 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Loans Held for Sale at Fair Value $ — $ — $ 243,170 $ 243,170 Borrower Loans, at Fair Value — — 267,626 267,626 LIBOR rate swaption — 66 — 66 Servicing Assets — — 8,761 8,761 Total Assets $ — $ 66 $ 519,557 $ 519,623 Liabilities: Notes, at Fair Value $ — $ — $ 265,985 $ 265,985 Convertible Preferred Stock Warrant Liability — — 250,941 250,941 Loan trailing fee liability (Note 9) — — 2,161 2,161 Total Liabilities $ — $ — $ 519,087 $ 519,087 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, 2022 and September 30, 2021. 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, 2022 and December 31, 2021: Range Borrower Loans, Loans Held for Sale and Notes: September 30, 2022 December 31, 2021 Discount rate 5.5% - 18.6% 4.2% - 14.3% Default rate 1.5% - 14.0% 2.0% - 14.1% Range Servicing Assets: September 30, 2022 December 31, 2021 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.5% - 14.3% 1.5% - 14.1% Prepayment rate 9.8% - 27.4% 10.2% - 32.3% Market servicing rate (1) (2) 0.648% - 0.842% 0.648% - 0.842% (1) Servicing assets associated with loans enrolled in a relief program offered by the Company in response to the COVID-19 pandemic as of September 30, 2022 and December 31, 2021 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 of 64.8 basis points. (2) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of September 30, 2022 and December 31, 2021, 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 mark et servicing rate ran ge of 70.8 - 90.2 basis points and 70.8 - 90.2 basis points, respectively. Range Credit Card Derivative and Servicing Obligation Liability: September 30, 2022 Discount rate on Prosper Allocations 27.5% Discount rate on Coastal Program Fee 9.8% Default rate 7.0% - 14.4% Prepayment rate 9.5% - 17.8% Market servicing rate 2.0% Range Loan Trailing Fee Liability: September 30, 2022 December 31, 2021 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.5% - 14.3% 1.5% - 14.1% Prepayment rate 9.8% - 27.4% 10.2% - 32.3% At September 30, 2022 and December 31, 2021, the discounted cash flow methodology used to estimate the Notes fair values used the same projected cash flows as the related Borrower Loans. Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis The following tables present additional information about Level 3 Borrower Loans, Loans Held for Sale, Notes and Certificates Issued by Securitization Trust measured at fair value on a recurring basis (in thousands): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held For Sale Notes 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 Certificates Issued by Securitization Trust Total Balance at January 1, 2021 $ 378,263 $ 274,621 $ (208,379) $ (22,917) $ 421,588 Purchase of Borrower Loans/Issuance of Notes 172,082 1,248,316 (172,231) — 1,248,167 Principal repayments (215,076) (117,876) 126,528 14,935 (191,489) Borrower Loans sold to third parties (2,311) (1,118,526) — — (1,120,837) Other changes (1,545) (34) 205 113 (1,261) Deconsolidation of VIEs (Note 6) 1,628 (581) 635 (6,110) (4,428) Change in fair value (78,361) — — 13,979 (64,382) Balance at September 30, 2021 $ 254,680 $ 285,920 $ (253,242) $ — $ 287,358 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 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held For Sale Notes Certificates Issued by Securitization Trust Total Balance at July 1, 2021 $ 338,939 $ 249,955 $ (236,041) $ (15,295) $ 337,558 Purchase of Borrower Loans/Issuance of Notes 64,473 455,642 (64,028) — 456,087 Principal repayments (69,094) (44,422) 45,486 4,042 (63,988) Borrower Loans sold to third parties (587) (375,192) — — (375,779) Other changes (353) 233 (14) 41 (93) Change in fair value (337) (296) 1,355 (2,767) (2,045) Deconsolidation of VIEs (Note 6) (78,361) — — 13,979 (64,382) Balance at September 30, 2021 $ 254,680 $ 285,920 $ (253,242) $ — $ 287,358 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, 2022 and 2021 (in thousands): 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 January 1, 2021 $ 9,242 Additions 5,674 Recognition of Servicing Assets upon deconsolidation of VIEs 215 Less: Changes in fair value (6,430) Balance at September 30, 2021 $ 8,701 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 Servicing Assets Balance at July 1, 2021 8,944 Additions 1,895 Recognition of Servicing Assets upon deconsolidation of VIEs 215 Less: Changes in fair value (2,353) Balance at September 30, 2021 $ 8,701 The following tables present additional information about Level 3 Credit Card derivative measured at fair value on a recurring basis for the three and nine month periods ending September 30, 2022 and 2021 (in thousands): Credit Card Derivative Balance at January 1, 2022 $ 7 Changes in fair value 6,839 Gains from settled transactions 2,355 Less: Net payments received (1,364) Balance at September 30, 2022 $ 7,837 Credit Card Derivative Balance at July 1, 2022 $ 4,861 Changes in fair value 2,976 Gains from settled transactions 1,779 Less: Net payments received (1,779) Balance at September 30, 2022 $ 7,837 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, 2022 and 2021 (in thousands): Convertible Preferred Stock 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 Balance as of January 1, 2021 $ 112,319 Change in fair value 136,845 Balance as of September 30, 2021 $ 249,164 Convertible Preferred Stock Balance as of July 1, 2022 $ 173,455 Change in fair value (11,374) Balance at September 30, 2022 $ 162,081 Convertible Preferred Stock Balance as of July 1, 2021 $ 162,436 Change in fair value 86,728 Balance as of September 30, 2021 $ 249,164 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, 2022 and 2021 (in thousands): 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 January 1, 2021 $ 2,233 Issuances 1,289 Cash Payment of Loan Trailing Fee (1,587) Change in Fair Value 248 Balance at September 30, 2021 $ 2,183 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 Loan Trailing Fee Liability Balance at July 1, 2021 2,145 Issuances 472 Cash Payment of Loan Trailing Fee (521) Change in Fair Value 87 Balance at September 30, 2021 $ 2,183 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, 2022 and December 31, 2021 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, 2022 December 31, 2021 Fair value, using the following assumptions: $ 701,180 $ 510,796 Weighted-average discount rate 7.84 % 5.64 % Weighted-average default rate 9.99 % 10.08 % Fair value resulting from: 100 basis point increase in discount rate $ 694,239 $ 505,732 200 basis point increase in discount rate $ 687,473 $ 500,763 Fair value resulting from: 100 basis point decrease in discount rate $ 708,301 $ 516,064 200 basis point decrease in discount rate $ 715,610 $ 521,437 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 695,007 $ 506,362 Applying a 1.2 multiplier to default rate $ 688,875 $ 501,921 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 707,390 $ 515,326 Applying a 0.8 multiplier to default rate $ 713,637 $ 519,851 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2022 and December 31, 2021 for Notes are presented in the following table (in thousands, except percentages). Notes September 30, 2022 December 31, 2021 Fair value, using the following assumptions: $ 301,079 $ 265,985 Weighted-average discount rate 8.32 % 5.76 % Weighted-average default rate 11.78 % 10.70 % Fair value resulting from: 100 basis point increase in discount rate $ 298,094 $ 263,326 200 basis point increase in discount rate $ 295,184 $ 260,735 Fair value resulting from: 100 basis point decrease in discount rate $ 304,141 $ 268,714 200 basis point decrease in discount rate $ 307,284 $ 271,516 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 298,411 $ 263,644 Applying a 1.2 multiplier to default rate $ 295,761 $ 261,318 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 303,762 $ 268,340 Applying a 0.8 multiplier to default rate $ 306,462 $ 270,711 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2022 and December 31, 2021 for Servicing Assets is presented in the following table (in thousands, except percentages). Servicing Assets September 30, 2022 December 31, 2021 Fair value, using the following assumptions $ 12,269 $ 8,761 Weighted-average market servicing rate 0.649 % 0.650 % Weighted-average prepayment rate 20.85 % 20.82 % Weighted-average default rate 14.62 % 12.54 % Fair value resulting from: Market servicing rate increase of 0.025% $ 11,480 $ 8,203 Market servicing rate decrease of 0.025% $ 13,059 $ 9,320 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 11,973 $ 8,568 Applying a 0.9 multiplier to prepayment rate $ 12,572 $ 8,957 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 12,095 $ 8,646 Applying a 0.9 multiplier to default rate $ 12,445 $ 8,878 Credit Card Derivative Asset September 30, 2022 Fair value, using the following assumptions: $ 7,837 Discount rate on Prosper Allocations 27.50 % Discount rate on Coastal Program Fee 9.84 % Weighted-average prepayment rate 12.00 % Weighted-average default rate 15.80 % Fair value resulting from: 100 basis point increase in both discount rates $ 7,772 200 basis point increase in both discount rates $ 7,708 Fair value resulting from: 100 basis point decrease in both discount rates $ 7,903 200 basis point decrease in both discount rates $ 7,970 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 7,701 Applying a 0.9 multiplier to prepayment rate $ 7,975 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 5,650 Applying a 0.9 multiplier to default rate $ 10,091 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, 2022 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and Cash Equivalents $ 43,530 $ 43,530 $ — $ — $ 43,530 Restricted Cash - Cash and Cash Equivalents 154,444 154,444 — — 154,444 Restricted Cash - Certificates of Deposit 4,879 — 4,879 — 4,879 Accounts Receivable 2,265 — 2,265 — 2,265 Total Assets $ 205,118 $ 197,974 $ 7,144 $ — $ 205,118 Liabilities: Accounts Payable and Accrued Liabilities $ 41,016 $ — $ 41,016 $ — $ 41,016 Payable to Investors 137,020 — 137,020 — 137,020 Warehouse Lines 354,799 — 353,229 — 353,229 Total Liabilities $ 532,835 $ — $ 531,265 $ — $ 531,265 December 31, 2021 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and Cash Equivalents $ 67,700 $ 67,700 $ — $ — $ 67,700 Restricted Cash - Cash and Cash Equivalents 163,047 163,047 — — 163,047 Restricted Cash - Certificates of Deposit 4,878 — 4,878 — 4,878 Accounts Receivable 1,054 — 1,054 — 1,054 Total Assets $ 236,679 $ 230,747 $ 5,932 $ — $ 236,679 Liabilities: Accounts Payable and Accrued Liabilities $ 25,790 $ — $ 25,790 $ — $ 25,790 Payable to Investors 152,794 — 152,794 — 152,794 Warehouse Lines 209,275 — 211,177 — 211,177 Paycheck Protection Program loan (Note 10) 8,590 — 8,556 — 8,556 Total Liabilities $ 396,449 $ — $ 398,317 $ — $ 398,317 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, 2022 and December 31, 2021, the discounted cash flow methodology used to estimate the Notes fair values used the same projected cash flows as the related Borrower Loans. As demonstrated in the table below, the fair value adjustments for Borrower Loans were largely offset by the fair value adjustments of the Notes due to the borrower payment dependent design of the Notes and because the principal balances of the Borrower Loans approximated the principal balances of the Notes. Assets and liabilities carried at fair value on the balance sheets are classified among three levels based on the observability of the inputs used to determine fair value: Level 1 — The valuation is based on quoted prices in active markets for identical instruments. Level 2 — The valuation is based on observable inputs such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation methodologies for which all significant assumptions are observable in the market. Level 3 — The valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the instrument. Level 3 valuations are typically performed using pricing models, discounted cash flow methodologies, or similar methodologies, which incorporate management’s own estimates of assumptions that market participants would use in pricing the instrument or valuations that require significant management judgment or estimation. Fair values of assets or liabilities are determined based on the fair value hierarchy, which requires an entity to maximize the use of quoted prices and observable inputs and to minimize the use of unobservable inputs when measuring fair value. Various valuation methodologies are utilized, depending on the nature of the financial instrument, including the use of market prices for identical or similar instruments, or discounted cash flow models. When possible, active and observable market data for identical or similar financial instruments are utilized. Alternatively, fair value is determined using assumptions that management believes a market participant would use in pricing the asset or liability. PFL did not transfer any assets or liabilities in or out of Level 3 for the nine months ended September 30, 2022 or 2021. 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, 2022 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 302,971 $ 302,971 Servicing Assets — — 14,074 14,074 Total Assets $ — $ — $ 317,045 $ 317,045 Liabilities: Notes, at Fair Value $ — $ — $ 301,079 $ 301,079 Loan Trailing Fee Liability — — 3,062 3,062 Total Liabilities $ — $ — $ 304,141 $ 304,141 December 31, 2021 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 267,626 $ 267,626 Servicing Assets — — 9,796 9,796 Total Assets $ — $ — $ 277,422 $ 277,422 Liabilities: Notes, at Fair Value $ — $ — $ 265,985 $ 265,985 Loan Trailing Fee Liability — — 2,161 2,161 Total Liabilities $ — $ — $ 268,146 $ 268,146 As PFL’s Borrower Loans, Notes, Servicing Assets and loan trailing fee liability do not trade in an active market with readily observable prices, PFL uses significant unobservable inputs to measure the fair value of these assets and liabilities. Financial instruments are categorized in the Level 3 valuation hierarchy based on the significance of unobservable factors in the overall fair value measurement. These fair value estimates may also include observable, actively quoted components derived from external sources. As a result, the realized and unrealized gains and losses for assets and liabilities within the Level 3 category may include changes in fair value that were attributable to both observable and unobservable inputs. Significant Unobservable Inputs The following tables present quantitative information about the significant unobservable inputs used for PFL’s Level 3 fair value measurements at the dates presented: Range Borrower Loans and Notes September 30, 2022 December 31, 2021 Discount rate 5.5% - 18.1% 4.3% - 13.9% Default rate 2.0% - 14.0% 2.0% - 13.5% Range Servicing Assets September 30, 2022 December 31, 2021 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.5% - 14.3% 1.5% - 14.1% Prepayment rate 9.8% - 27.4% 10.2% - 32.3% Market servicing rate (1) (2) 0.648% - 0.842% 0.648% - 0.842% (1) Servicing assets associated with loans enrolled in a relief program offered by the Company in response to the COVID-19 pandemic as of September 30, 2022 and December 31, 2021 were measured using a market servicing rate assumption o f 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 of 64.8 basis points. (2) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of September 30, 2022 and December 31, 2021, 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 rang e of 70.8 - 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, 2022 December 31, 2021 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.5% - 14.3% 1.5% - 14.1% Prepayment rate 9.8% - 27.4% 10.2% - 32.3% 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, 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 January 1, 2021 $ 209,670 $ — $ (208,379) $ 1,291 Originations 172,082 1,248,316 (172,231) 1,248,167 Principal repayments (125,672) — 126,528 856 Borrower Loans sold to third parties (1,069) (1,248,316) — (1,249,385) Other changes (223) — 205 (18) Change in fair value (108) — 635 527 Balance at September 30, 2021 $ 254,680 $ — $ (253,242) $ 1,438 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 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at July 1, 2021 $ 236,844 $ — $ (236,041) $ 803 Originations 64,473 455,642 (64,028) 456,087 Principal repayments (45,338) — 45,486 148 Borrower Loans sold to third parties (300) (455,642) — (455,942) Other changes (15) — (14) (29) Change in fair value (984) — 1355 371 Balance at September 30, 2021 $ 254,680 $ — $ (253,242) $ 1,438 The following tables present additional information about Level 3 Servicing Assets recorded at fair value (in thousands): 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 January 1, 2021 $ 11,088 Additions 6,676 Less: Changes in fair value (7,796) Balance as of September 30, 2021 $ 9,968 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 Servicing Assets Balance as of July 1, 2021 10,389 Additions 2,300 Less: Changes in fair value (2,721) Balance as of September 30, 2021 $ 9,968 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, 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 January 1, 2021 $ 2,233 Issuances 1,289 Cash payment of Loan Trailing Fee (1,587) Change in fair value 248 Balance as of September 30, 2021 $ 2,183 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 Loan Trailing Fee Liability Balance as of July 1, 2021 2,145 Issuances 472 Cash payment of Loan Trailing Fee (521) Change in fair value 87 Balance as of September 30, 2021 $ 2,183 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, 2022 and December 31, 2021 for Borrower Loans are presented in the following table (in thousands, except percentages). Borrower Loans: September 30, 2022 December 31, 2021 Fair value, using the following assumptions: $ 302,971 $ 267,626 Weighted-average discount rate 8.32 % 5.76 % Weighted-average default rate 11.78 % 10.70 % Fair value resulting from: 100 basis point increase in discount rate $ 299,972 $ 265,104 200 basis point increase in discount rate $ 297,048 $ 262,499 Fair value resulting from: 100 basis point decrease in discount rate $ 306,048 $ 270,520 200 basis point decrease in discount rate $ 309,206 $ 273,337 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 300,304 $ 265,435 Applying a 1.2 multiplier to default rate $ 297,654 $ 263,107 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 305,654 $ 270,133 Applying a 0.8 multiplier to default rate $ 308,353 $ 272,505 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, 2022 and December 31, 2021 for Notes funded through the Note Channel are presented in the following table (in thousands, except percentages). Notes September 30, 2022 December 31, 2021 Fair value, using the following assumptions: $ 301,079 $ 265,985 Weighted-average discount rate 8.32 % 5.76 % Weighted-average default rate 11.78 % 10.70 % Fair value resulting from: 100 basis point increase in discount rate $ 298,094 $ 263,326 200 basis point increase in discount rate $ 295,184 $ 260,735 Fair value resulting from: 100 basis point decrease in discount rate $ 304,141 $ 268,714 200 basis point decrease in discount rate $ 307,284 $ 271,516 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 298,411 $ 263,644 Applying a 1.2 multiplier to default rate $ 295,761 $ 261,318 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 303,762 $ 268,340 Applying a 0.8 multiplier to default rate $ 306,462 $ 270,711 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, 2022 and December 31, 2021 for Servicing Assets are presented in the following table (in thousands, except percentages). Servicing Assets September 30, 2022 December 31, 2021 Fair value, using the following assumptions: $ 14,074 $ 9,796 Weighted-average market servicing rate 0.649 % 0.650 % Weighted-average prepayment rate 20.85 % 20.82 % Weighted-average default rate 13.91 % 12.24 % Fair value resulting from: Market servicing rate increase of 0.025% $ 13,168 $ 9,171 Market servicing rate decrease of 0.025% $ 14,980 $ 10,421 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 13,734 $ 9,580 Applying a 0.9 multiplier to prepayment rate $ 14,421 $ 10,015 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 13,874 $ 9,667 Applying a 0.9 multiplier to default rate $ 14,275 $ 9,926 These sensitivities are hypothetical and should be evaluated with care. The effect on fair value of a variation in assumptions generally cannot be determined because the relationship of the change in assumptions to the fair value may not be linear. Additionally, the impact of a variation in a particular assumption on the fair value is calculated while holding other assumptions constant. In reality, changes in one factor may lead to changes in other factors, which could impact the above hypothetical effects.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS, NET	9 Months Ended
	Sep. 30, 2022
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, 2021 did not change during the nine months ended September 30, 2022. The Company recorded no goodwill impairment for the nine months ended September 30, 2022 and 2021. 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, 2022 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 (4,824) 226 2.6 Brand name 60 (60) — — Total Intangible Assets subject to amortization $ 8,170 $ (7,944) $ 226 Prosper’s intangible asset balance w as $0.2 million and $0.3 million at September 30, 2022 and December 31, 2021, respectively. The user base and customer relationships intangible assets are being amortized on an accelerated basis over a three Amortization expense for the three and nine months ended September 30, 2022 and 2021 was not material. Estimated amortization of purchased intangible assets for future periods is as follows (in thousands): Year Ending December 31, 2022 (remainder thereof) $ 34 2023 107 2024 85 Total $ 226

OTHER LIABILITIES

OTHER LIABILITIES	9 Months Ended
	Sep. 30, 2022
Other Liabilities [Abstract]
OTHER LIABILITIES	Other Liabilities Other Liabilities consist of the following (in thousands): September 30, 2022 December 31, 2021 Operating lease liabilities $ 17,429 $ 11,026 Deferred revenue 3,045 1,196 Loan trailing fee liability 3,062 2,161 Credit Card servicing obligation liability (Note 5) 2,381 — Deferred income tax liability 621 560 Financing lease liabilities 78 78 Paycheck Protection Program loan (Note 10) — 8,590 Other 350 289 Total Other Liabilities $ 26,966 $ 23,900 Additionally, disclosures around the operating lease liabilities are included in Note 15.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
DEBT	Debt PWIT Warehouse Trust Agreements Prosper’s consolidated VIEs, PWIT and PWIIT (together, “Warehouse VIEs”), each entered into an agreement (together, “Warehouse Agreements”) with certain lenders for committed revolving lines of credit (“Warehouse Lines”) during 2018 and 2019, respectively. In connection with the Warehouse Agreements, the Warehouse VIEs each entered into a security agreement with a bank as administrative agent and a national banking association as collateral trustee and paying agent. Proceeds under the Warehouse Lines may only be used to purchase certain unsecured consumer loans and related rights and documents from Prosper and to pay fees and expenses related to the Warehouse Lines. Both Warehouse VIEs are consolidated because Prosper is the primary beneficiary of the VIEs. The assets of the VIEs can be used only to settle obligations of the VIEs. Additionally, the creditors of the Warehouse Lines have no recourse to the general credit of Prosper. The loans held in the Warehouse VIEs are included in Loans Held for Sale, at Fair Value and Warehouse Lines are in Warehouse Lines in the condensed consolidated balance sheets. Both Warehouse Agreements contain the same certain covenants including restrictions on each Warehouse VIE's ability to incur indebtedness, pledge assets, merge or consolidate and enter into certain affiliate transactions. Each Warehouse Agreement also requires Prosper to maintain a minimum tangible net worth of $25 million, minimum net liquidity of $15 million and a maximum leverage ratio of 5:1. Tangible net worth is defined as the sum of (i) (A) Convertible Preferred Stock, (B) total Stockholders’ Deficit and (C) Convertible Preferred Stock Warrant Liability, less the sum of (ii) (A) goodwill and (B) intangible assets. Net liquidity is defined as the sum of cash, cash equivalents and Available for Sale Investments. The leverage ratio is defined as the ratio of total consolidated indebtedness other than non-recourse securitization indebtedness, non-recourse or limited recourse warehouse indebtedness and borrower dependent notes, to tangible net worth. As of September 30, 2022, Prosper was in compliance with the covenants under each Warehouse Agreement. PWIT Warehouse Line On January 19, 2018, through PWIT, Prosper entered into a Warehouse Agreement for a Warehouse Line. Effective June 12, 2018, the Warehouse Agreement was amended. The amendments included increasing the committed line of credit from $100 million to $200 million, extending the term of the PWIT Warehouse Line (including the final maturity date), amending the monthly unused commitment fee and reducing the rate at which the PWIT Warehouse Line bears interest. Subsequently the Warehouse Agreement was amended on June 20, 2019 to extend the facility, to reduce the interest rate and unused commitment fee and to expand the eligibility criteria for unsecured consumer loans that can be financed through the PWIT Warehouse Line. It was amended again on May 19, 2021 to extend the facility, to reduce the interest and advance rates and to include provisions for an alternative benchmark rate in light of the ongoing phaseout of LIBOR. Under the amended agreement, proceeds of loans made under the PWIT Warehouse Line may be borrowed, repaid and reborrowed until the earlier of June 20, 2023 or the occurrence of any accelerated amortization event or event of default. Repayment of any outstanding proceeds will be made over the 24 month period ending June 20, 2025, excluding the occurrence of any accelerated amortization event or event of default. Under the amended agreement, the PWIT Warehouse Line bears interest at a rate of an established benchmark rate (currently LIBOR) plus 2.75% and has an advance rate of 87% for the majority of collateral loans, with lower advance rates for certain collateral loans. Additionally, the PWIT Warehouse Line bears a monthly unused commitment fee of 0.50% per annum on the undrawn portion available under the PWIT Warehouse Line. As of September 30, 2022, Prosper ha d $172.6 million in debt and accrued interest outstanding under the PWIT Warehouse Line. This debt is secured by an aggregate outstanding principal balance of $199.3 million included in “Loans Held for Sale, at Fair Value” on the condensed consolidated balance sheets. At September 30, 2022 the undrawn portion available under the Warehouse Line was $27.4 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 purchased a swaption to limit the Company's exposure to increases in LIBOR. The swaption is recorded on the consolidated balance sheet at fair value in Prepaids and Other Assets. Any changes in the fair value are recorded in the Change in Fair Value of Financial Instruments, Net on the Consolidated Statement of Operations. The fair value of the swaption was $2.1 million at September 30, 2022. 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. On March 4, 2021, PMI extended its $300 million PWIIT Warehouse Line (“PWIIT Extension”). The PWIIT Extension consists of a $230 million Class A loan with the existing PWIIT Warehouse Line national banking association and a $70 million Class B loan with an asset manager. The advance rate on the PWIIT Extension is 90%. Under the PWIIT Extension, proceeds of loans made under the PWIIT Warehouse Line may be borrowed, repaid and reborrowed until the earlier of March 3, 2023 or the occurrence of any accelerated amortization event or event of default. Repayment of any outstanding proceeds will be made over a 24-month period ending March 4, 2025, excluding the occurrence of any accelerated amortization event or event of default. Under the PWIIT Extension, the Class A loan bears interest at a rate of the national banking association's asset-backed commercial paper rate, plus a spread of 2.05%. The spread increases by 0.375% during the first 12 months immediately following the termination of the revolving period with an additional increase of 0.375% one year later. Additionally, the Class A loan bears a monthly unused commitment fee of 0.50% per annum on the undrawn portion available under the Class A loan. The Class B loan bears interest at a rate of one-month LIBOR, plus a spread of 8.75%. The spread increases by 0.375% during the first twelve months immediately following the termination of the revolving period with an additional increase of 0.375% one year later. Additionally, the Class B loan bears a monthly unused commitment fee of 0.50% or 1.00% per annum on the undrawn portion available under the Class B loan, depending on the Class B loan utilization percentage. As of September 30, 2022, Prosper had $182.2 million in debt and accrued interest outstanding under the PWIIT Warehouse Line. This debt is secured by an aggregate outstanding principal balance of $204.3 million included in Loans Held for Sale, at Fair Value on the Consolidated Balance Sheets. At September 30, 2022 the undrawn portion available under the PWIIT Warehouse Line was $117.8 million. PMI in curred $1.3 million of debt issuance costs for the extension in March 2021, which are included in Prepaids and Other Assets and will be amortized to interest expense over the term of the revolving arrangement. Phaseout of LIBOR A portion of the interest rate charged on our Warehouse Lines is currently based on LIBOR. LIBOR has been the subject of reform and was expected to phase out by the end of fiscal 2021; however, on November 30, 2020, the ICE Benchmark Administration Limited (“ICE”) announced plans to delay the phase out of LIBOR to June 30, 2023. The consequences of the discontinuation of LIBOR cannot be entirely predicted but could impact the interest expense incurred on these debt instruments. We have negotiated alternatives to LIBOR on the PWIT and PWIIT Warehouse Lines, which we may renegotiate before LIBOR ceases to be a widely available reference rate. Paycheck Protection Program Loan In April 2020, the Company obtained an $8.4 million loan under the Paycheck Protection Program (“PPP”), established by the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) and sponsored by the U.S. Small Business Administration (“SBA”). 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, 2022
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. 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, 2022 and 2021, certain shares issued as a result of the early exercise of stock options which are subject to a repurchase right by PMI were entitled to receive non-forfeitable dividends during the vesting period and consequently, are considered participating securities. The weighted average shares used in calculating basic and diluted net income (loss) per share excludes certain shares that are disclosed as outstanding shares in the condensed consolidated balance sheets because such shares are restricted as they were associated with options that were early exercised and continue to remain unvested. Basic and diluted income (loss) per share were calculated as follows for the periods presented (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2022 2022 2021 2022 2021 Numerator: Net Income (Loss) $ 8,621 $ (88,061) $ 87,918 $ (138,755) Less: Net Income Allocated to Participating Securities (5,772) — (59,054) — Net Income (Loss) Attributable to Common Stockholders $ 2,849 $ (88,061) $ 28,864 $ (138,755) Denominator: Weighted average shares used in computing basic net income (loss) per share 73,731,925 71,068,442 73,010,111 70,433,182 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 341,959,266 71,068,442 348,703,804 70,433,182 Net Income (Loss) Per Share – Basic $ 0.04 $ (1.24) $ 0.40 $ (1.97) Net Income (Loss) Per Share – Diluted $ 0.01 $ (1.24) $ 0.08 $ (1.97) 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, 2022 2021 2022 2021 (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 16,382,524 70,601,482 16,227,752 72,845,826 Warrants issued and outstanding 669,512 1,080,349 480,155 1,080,349 Series E-1 convertible preferred stock warrants — 35,544,141 — 35,544,141 Series F convertible preferred stock warrants — 177,720,704 — 177,720,704 Total common stock equivalents excluded from diluted net income (loss) per common share computation 175,417,691 443,312,331 175,073,562 445,556,675

CONVERTIBLE PREFERRED STOCK, CO

CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK	9 Months Ended
	Sep. 30, 2022
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, 2022 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 15 of PMI’s 10-K for the year ended December 31, 2021) on February 27, 2017. The warrants expire ten years from the dat e of issuance. For the three months ended September 30, 2022 and 2021, Prosper recognized $2.5 million of income and $13.9 million of expense, respectively, from the re-measurement of the fair value of the warrants. For the nine months ended September 30, 2022 and 2021, Prosper recognized $14.2 million of income and $21.3 million of expense, respectively, from the re-measurement of the fair value of the warrants. The income or expense resulted from the remeasurement of the fair value of the warrants is recorded in Change in Fair Value of Convertible Preferred Stock Warrants on the condensed consolidated statements of operations. To determine the fair value of the Series E-1 Warrants, the Company first determined the value of a share of a Series E-1 Convertible Preferred Stock. To determine the fair value of the Convertible Preferred Stock, the Company first derived the business enterprise value (“BEV”) of the Company using a variety of valuation methods, including discounted cash flow models and market based methods, as deemed appropriate under the circumstances applicable at the valuation date. Once the Company determined an estimated BEV, the option pricing method ("OPM") was used to allocate the BEV to the various classes of our equity, including our preferred stock. The concluded per share value for the Series E-1 Convertible Preferred Stock was utilized as an input to the Black-Scholes option pricing model. The Company determined the fair value of the outstanding Series E-1 Warrants utilizing the following assumptions as of the following dates: September 30, 2022 December 31, 2021 Volatility 74.0 % 63.0 % Risk-free interest rate 4.20 % 0.90 % 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, 2022, and for zero coupon U.S. Treasury notes with maturities approximately equal to the term of the warrant. Expected Term: The expected term is the period of time for which the warrants are expected to be outstanding. Dividend Yield: The expected dividend assumption is based on the Company’s current expectations about the Company’s anticipated dividend policy. Series F Warrants In connection with the Consortium Purchase Agreement (as described in Note 15 of PMI’s 10-K for the year ended December 31, 2021) on February 27, 2017, PMI issued warrants to purchase up to 177,720,706 shares of PMI's Series F convertible preferred stock at $0.01 per share. The warrants expire ten years from the date of issuance. For the three months ended September 30, 2022 and 2021, Prosper recognize d $8.9 million of income and $72.9 million of expense, respectively, from the re-measurement of the fair value of the warrants. For the nine months ended September 30, 2022 and 2021, Prosper recognized $74.6 million of income and $115.5 million of expense, respectively, from the re-measurement of the fair value of the warrants. The income or expense resulting from changes in the fair value of the warrant is recorded through Change in Fair Value of Convertible Preferred Stock Warrants on the condensed consolidated statements of operations. To determine the fair value of the Series F Warrants, the Company first determined the value of a share of a Series F Convertible Preferred Stock. To determine the fair value of the Convertible Preferred Stock, the Company first derived the BEV using valuation methods, including a combination of 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, 2022 December 31, 2021 Volatility 74.0 % 63.0 % Risk-free interest rate 4.20 % 0.90 % 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 three and nine months ended September 30, 2022 and 2021 are presented in Note 7, Fair Value of Assets and Liabilities. Common Stock PMI, through its Amended and Restated Certificate of Incorporation, is the sole issuer of common stock and related options, restricted stock units (“RSUs”) and warrants. On February 16, 2016, PMI amended and restated its Certificate of Incorporation to, among other things, effect a 5-for-1 forward stock split. On September 20, 2017, PMI further amended its Amended and Restated Certificate of Incorporation to increase the number of shares of common stock authorized for issuance. The total number of shares of stock which PMI has the authority to issue is 1,069,760,848, consisting of 625,000,000 shares of common stock, $0.01 par value per share, and 444,760,848 shares of preferred stock, $0.01 par value per share. As of September 30, 2022, 74,950,409 shares of common stock were issued and 74,014,474 shares of common stock were outstanding. As of December 31, 2021, 73,089,929 shares of common stock were issued and 72,153,994 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 For the nine months ended September 30, 2022, PMI issued 1,860,480 shares of common stock upon the exercise of vested options for cash proceeds of $46 thousand

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	Stock-Based Compensation PMI 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 Reprices On May 3, 2016, March 17, 2017 and August 11, 2020 the Compensation Committee of the Board of Directors of PMI approved three separate stock option repricing programs (collectively, the “Repricings”) authorizing PMI’s officers to reprice certain outstanding stock options held by employees and directors that had exercise prices above the current fair market value of PMI’s Common Stock on those respective dates. PMI believes that the Repricings encourage the continued service of valued employees and directors, and motivate such service providers to perform at high levels, both of which are critical to the Company’s continued success. PMI expects to incur additional stock based compensation charges as a result of the Repricings. The financial statement impact of the above Repricings was not material for the nine months ended September 30, 2022. As of September 30, 2022, the unamortized Repricings expense (net of forfeitures) of $11 thousand will be recognized over the remaining weighted-average vesting period of 1.0 year . Stock Option Activity Stock option activity under the 2005 Plan and 2015 Plan is summarized for the nine months ended September 30, 2022 below: Options Issued and Outstanding Weighted Average Exercise Price Balance as of January 1, 2022 72,186,151 $ 0.07 Options issued 13,822,243 $ 0.66 Options exercised (1,860,480) $ 0.02 Options forfeited (3,703,067) $ 0.22 Options expired (5,825) $ 0.02 Balance as of September 30, 2022 80,439,022 $ 0.16 Options vested and expected to vest as of September 30, 2022 72,283,669 $ 0.16 Options vested and exercisable as of September 30, 2022 53,632,329 $ 0.04 Other Information Regarding Stock Options The weighted-average remaining life for options outstanding as of September 30, 2022 was 6.51 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, 2022 and 2021 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, 2022 2021 2022 2021 Volatility of common stock 68.09 % 64.84 % 67.08 % 64.37 % Risk-free interest rate 2.87 % 0.97 % 2.61 % 0.99 % Expected life (in years) 6.0 years 6.0 years 6.0 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. There wa s no RSU activity for the nine months ended September 30, 2022, and as of that date, there were 2,874,348 unvested RSUs with a weighted-average grant date fair value of $1.14 per sha re. 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, 2022 2021 2022 2021 Origination and servicing $ 36 $ 30 $ 98 $ 92 Sales and marketing 215 15 417 47 General and administrative 245 225 780 718 Total stock-based compensation $ 496 $ 270 $ 1,295 $ 857 As of September 30, 2022 , the unamortized stock-based compensation expense, adjusted for forfeiture estimates, related to unvested stock-based awards was approximately $3.7 million , which will be recognized over a remaining weighted-average vesting period of approximately 3.1 years .

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2022
Entity Information [Line Items]
INCOME TAXES	Income Taxes For the three months ended September 30, 2022 and 2021, PMI recogniz ed $20 thousand and $21 thousand of income tax expense, respectively. For the nine months ended September 30, 2022 and 2021, PMI recognized $60 thousand and $63 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, 2022 and 2021 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, 2022 and 2021. 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, 2022
Leases [Abstract]
LEASES	Leases Prosper has operating leases for corporate offices and datacenters. These leases have remaining lease terms of less than one year to approximately six 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 $1.2 million and $1.1 million for the three months ended September 30, 2022 and 2021, respectively, and $3.5 million and $3.4 million for the nine months ended September 30, 2022 and 2021, 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 $0.2 million and $0.1 million for the three months ended September 30, 2022 and 2021, respectively, and $0.6 million and $0.2 million for the nine months ended September 30, 2022 and 2021, respectively. Operating Lease Right-of-Use (“ROU”) Assets The following table summarizes the operating lease right-of-use assets as of September 30, 2022, which are included in “Property and Equipment, Net” on the condensed consolidated balance sheets. September 30, 2022 Gross Carrying Value Accumulated Amortization Net Carrying Value ROU Assets - Office buildings $ 26,257 $ 11,518 $ 14,739 ROU Assets - Other 900 615 285 Total right-of-use assets subject to amortization $ 27,157 $ 12,133 $ 15,024 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, 2022 were as follows (in thousands). The present value of the future minimum lease payments represents our operating lease liabilities as of September 30, 2022 and are included in " Other Liabilities September 30, 2022 Remainder of 2022 $ 1,435 2023 3,820 2024 4,391 2025 4,517 2026 4,432 Thereafter 4,723 Total future minimum lease payments $ 23,318 Less imputed interest (5,889) Present value of future minimum lease payments $ 17,429 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, 2022 Cash paid for operating leases year-to-date $ 4,350 Weighted average remaining lease term (in years) 5.02 years Weighted average discount rate 10.82 %

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2022
Entity Information [Line Items]
COMMITMENTS AND CONTINGENCIES	Commitments and Contingencies In the normal course of its operations, Prosper becomes involved in various legal actions. Prosper maintains provisions it considers to be adequate for such actions. Prosper does not believe it is probable that the ultimate liability, if any, arising out of any such matters will have a material effect on Prosper's financial condition, results of operations or cash flows. Operating Commitments Prosper has entered into an agreement with WebBank, under which all Borrower Loans originated through the marketplace are made by WebBank under its bank charter. On June 25, 2021, PMI, along with its wholly-owned subsidiary Prosper Funding LLC, and WebBank entered into: (i) a Fifth Amendment (the “Sale Agreement Amendment”) to the Asset Sale Agreement, dated July 1, 2016, between Prosper Funding LLC and WebBank (the “Sale Agreement”); (ii) a Sixth Amendment (the “Marketing Agreement Amendment”) to the Marketing Agreement, dated July 1, 2016, between PMI and WebBank (the “Marketing Agreement”); and (iii) a Third Amendment (the “Purchase Agreement Amendment”) to the Stand By Purchase Agreement, dated July 1, 2016, between PMI and WebBank (the “Purchase Agreement” and, collectively with the Sale Agreement and the Marketing Agreement, the “Origination and Sale Agreements”). The Sale Agreement Amendment, the Marketing Agreement Amendment, and the Purchase Agreement Amendment, collectively, are hereinafter referred to as the “Amendments.” The Sale Agreement Amendment, among other things, extends the term of the Sale Agreement to February 1, 2025 and amends certain collateral requirements under the Sale Agreement. The Marketing Agreement Amendment, among other things, extends the term of the Marketing Agreement to February 1, 2025 and sets forth the amended terms and conditions of certain fees owed by the Registrants to WebBank under the Marketing Agreement. The Purchase Agreement Amendment amends certain collateral requirements of PMI under the Purchase Agreement. Pursuant to the Marketing Agreement Amendment, the marketing fee that Prosper receives in connection with the origination of each loan is partially reduced by an amount (the “Designated Amount”) calculated as a percentage of the principal amount of such loan based on the aggregate principal amount of loans originated for the applicable month. To the extent the aggregate Designated Amount for all loans originated during any month is less than $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 2022 is $0.3 million . The minimum fee is $1.2 million for 2023 and 2024, and $0.1 million in 2025. Additionally, under the agreement with WebBank, Prosper is required to maintain minimum net liquidity of $15.0 million at all times during the term of the agreement. Net liquidity is defined as the sum of Cash, Cash Equivalents and Available for Sale Investments. Violation of this covenan t can result in termination of the contract with WebBank. As of September 30, 2022, Prosper was in compliance with the covenant. Loan Purchase Commitments Prosper entered into an agreement with WebBank to purchase $24.1 million of Borrower Loans that WebBank originated during the last two business days of the quarter ended September 30, 2022. Prosper will purchase these Borrower Loans within the first three business days of the quarter ending December 31, 2022. Repurchase Obligation Under the terms of the loan purchase agreements between Prosper and investors that participate in the Whole Loan Channel, Prosper may, in certain circumstances, become obligated to repurchase a Borrower Loan from an investor. Generally, these circumstances include the occurrence of verifiable identity theft, the failure to properly follow loan listing or bidding protocols or a violation of the applicable federal, state or local lending laws. Prosper recognizes a liability at fair value for the repurchase obligation when the Borrower Loans are sold. The fair value of the repurchase obligation is estimated based on historical experience. Repurchased Borrower Loans associated with violations of federal, state or local lending laws or verifiable identity theft are written off at the time of repurchase. The maximum potential amount of future payments associated with this obligation is the outstanding balances of the Borrower Loans issued through the Whole Loan Channel, which at September 30, 2022 is $3.4 billion . Prosper has accrued $0.3 a nd $0.3 million as of September 30, 2022 and December 31, 2021, respectively, in regard to this obligation. Regulatory Contingencies Prosper accrues for contingencies when a loss from such contingencies is probable and the amount of loss can be reasonably estimated. In determining whether a loss is probable and if it is possible to quantify the amount of the estimated loss, Prosper reviews and evaluates its litigation and regulatory matters on at least a quarterly basis in light of potentially relevant factual and legal developments. If Prosper determines that an unfavorable outcome is not probable or that the amount of a loss cannot be reasonably estimated, Prosper does not accrue for a potential litigation loss. If an unfavorable outcome is probable and Prosper can estimate a range of outcomes, an amount is recorded which management considers to be the best estimate within the range of potential losses that are both probable and estimable; however, if management cannot quantify the amount of the estimated loss, then the low end of the range of the potential losses is recorded. West Virginia Matter In January 2018, the Attorney General of the State of West Virginia (the “Attorney General”) initiated discussions regarding certain acts and practices of PMI and PFL that the Attorney General asserts may have violated the West Virginia Consumer Credit and Protection Act (the “Consumer Act”), to which Prosper responded with such information as was requested by the Attorney General. Following a period of more than a year with limited to no communication, in February 2020, Prosper received a proposed Assurance of Discontinuance (an “AOD”) from the Attorney General requesting that, without in any way admitting that any of its prior practices were in violation of the Consumer Act, Prosper agree to certain terms and conditions regarding its past and potential future conduct of its business with respect to customers in West Virginia, including a release by the Attorney General of any claims it may have related to the matters identified in the AOD. Prosper is evaluating and intends to discuss the proposed terms in the AOD with the Attorney General. We cannot predict the outcome of the matter and any potential fines or penalties, if any, that may arise from the matter. Further, we are unable to estimate a range of outcomes and as a result no accrual has been made. No loans have been originated through the Prosper platform to West Virginians since June 2016.
Prosper Funding LLC
Entity Information [Line Items]
COMMITMENTS AND CONTINGENCIES	Commitments and Contingencies Operating Commitments Prosper has entered into an agreement with WebBank, under which all Borrower Loans originated through the marketplace are made by WebBank under its bank charter. On June 25, 2021, PMI, along with PFL, and WebBank entered into: (i) a Fifth Amendment (the “Sale Agreement Amendment”) to the Asset Sale Agreement, dated July 1, 2016, between PFL and WebBank (the “Sale Agreement”); (ii) a Sixth Amendment (the “Marketing Agreement Amendment”) to the Marketing Agreement, dated July 1, 2016, between PMI and WebBank (the “Marketing Agreement”); and (iii) a Third Amendment (the “Purchase Agreement Amendment”) to the Stand By Purchase Agreement, dated July 1, 2016, between PMI and WebBank (the “Purchase Agreement” and, collectively with the Sale Agreement and the Marketing Agreement, the “Origination and Sale Agreements”). The Sale Agreement Amendment, the Marketing Agreement Amendment, and the Purchase Agreement Amendment, collectively, are hereinafter referred to as the “Amendments.” The Sale Agreement Amendment, among other things, extends the term of the Sale Agreement to February 1, 2025 and amends certain collateral requirements under the Sale Agreement. The Marketing Agreement Amendment, among other things, extends the term of the Marketing Agreement to February 1, 2025 and sets forth the amended terms and conditions of certain fees owed by the Registrants to WebBank under the Marketing Agreement. The Purchase Agreement Amendment amends certain collateral requirements of Prosper under the Purchase Agreement. Pursuant to the Marketing Agreement Amendment, the marketing fee that Prosper receives in connection with the origination of each loan is partially reduced by an amount (the “Designated Amount”) calculated as a percentage of the principal amount of such loan based on the aggregate principal amount of loans originated for the applicable month. To the extent the aggregate Designated Amount for all loans originated during any month is less than $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 2022 is $0.3 million . The minimum fee is then $1.2 million for 2023 and 2024, and $0.1 million in 2025. Additionally, under the agreement with WebBank, Prosper is required to maintain minimum net liquidity of $15 million at all times during the term of the agreement. Net liquidity is defined as the sum of Cash, Cash Equivalents and Available for Sale Investments. Violation of this covenant can result in termination of the contract with WebBank. As of September 30, 2022, 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 $24.1 million of Borrower Loans that WebBank originated during the last two business days of the quarter ended September 30, 2022. PFL will purchase these Borrower Loans within the first three business days of the quarter ending December 31, 2022. Repurchase Obligation Under the terms of the loan purchase agreements between PFL and investors that participate in the Whole Loan Channel, PFL may, in certain circumstances, become obligated to repurchase a Borrower Loan from an investor. Generally, these circumstances include the occurrence of verifiable identity theft, the failure to properly follow loan listing or bidding protocols, or a violation of the applicable federal, state, or local lending laws. The fair value of the indemnification and repurchase obligation is estimated based on historical experience. PFL recognizes a liability for the repurchase and indemnification obligation when the Borrower Loans are issued. Indemnified or repurchased Borrower Loans associated with violations of federal, state, or local lending laws or verifiable identity theft are written off at the time of repurchase or at the time an indemnification payment is made. The maximum potential amount of future payments associated under this obligation is the outstanding balances of the Borrower Loans issued through the Whole Loan Channel, which as of September 30, 2022 is $3.4 billion . PFL has acc rued $0.3 million and $0.3 million as of September 30, 2022 and December 31, 2021, respectively, in regard to this obligation. Regulatory Contingencies PFL accrues for contingencies when a loss from such contingencies is probable and the amount of loss can be reasonably estimated. In determining whether a loss is probable and if it is possible to quantify the amount of the estimated loss, PFL reviews and evaluates its litigation and regulatory matters on at least a quarterly basis in light of potentially relevant factual and legal developments. If PFL determines that an unfavorable outcome is not probable or that the amount of a loss cannot be reasonably estimated, PFL does not accrue for a potential litigation loss. If an unfavorable outcome is probable and PFL can estimate a range of outcomes, PFL record the amount management considers to be the best estimate within the range of potential losses that are both probable and estimable; however, if management cannot quantify the amount of the estimated loss, then PFL records the low end of the range of those potential losses. West Virginia Matter In January 2018, the Attorney General of the State of West Virginia (the “Attorney General”) initiated discussions regarding certain acts and practices of PMI and PFL that the Attorney General asserts may have violated the West Virginia Consumer Credit and Protection Act (the “Consumer Act”), to which PMI responded with such information as was requested by the Attorney General. Following a period of more than a year with limited to no communication, in February 2020, PMI received a proposed Assurance of Discontinuance (an “AOD”) from the Attorney General requesting that, without in any way admitting that any of its prior practices were in violation of the Consumer Act, PMI agreed to certain terms and conditions regarding its past and potential future conduct of its business with respect to customers in West Virginia, including a release by the Attorney General of any claims it may have related to the matters identified in the AOD. PMI is evaluating and intends to discuss the proposed terms in the AOD with the Attorney General. We cannot predict the outcome of the matter and any potential fines or penalties, if any, that may arise from the matter. Further, we are unable to estimate a range of outcomes and as a result no accrual has been made. No loans have been originated through the PFL platform to West Virginians since June 2016.

RELATED PARTIES

RELATED PARTIES	9 Months Ended
	Sep. 30, 2022
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, 2022 and 2021, as well as the Notes outstanding as of September 30, 2022 and December 31, 2021 are summarized below (in thousands): Aggregate Amount of Interest Earned on Notes Related Party 2022 2021 2022 2021 Executive officers and management $ 9 $ 9 $ 2 $ 2 Directors (excluding executive officers and management) — 4 — 1 Total $ 9 $ 13 $ 2 $ 3 Aggregate Amount of Interest Earned on Notes Related Party 2022 2021 2022 2021 Executive officers and management $ 28 $ 26 $ 6 $ 5 Directors (excluding executive officers and management) — 24 1 1 Total $ 28 $ 50 $ 7 $ 6 Notes Balance as of Related Party September 30, 2022 December 31, Executive officers and management $ 51 $ 41 Directors (excluding executive officers and management) 7 15 Total $ 58 $ 56
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, 2022 and 2021 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 2022 2021 2022 2021 Executive officers and management $ 8 $ 9 $ 2 $ 2 Directors (excluding executive officers and management) — — — — Total $ 8 $ 9 $ 2 $ 2 Aggregate Amount of Interest Earned on Notes Related Party 2022 2021 2022 2021 Executive officers and management $ 26 $ 26 $ 5 $ 5 Directors (excluding executive officers and management) — — — — Total $ 26 $ 26 $ 5 $ 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, 2022 December 31, 2021 Executive officers and management $ 45 $ 41 Directors (excluding executive officers and management) — — Total $ 45 $ 41

SIGNIFICANT CONCENTRATIONS

SIGNIFICANT CONCENTRATIONS	9 Months Ended
	Sep. 30, 2022
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, 2022, three individual third parties purchas ed 23.4%, 12.7% and 10.2% of all Borrower Loans originated, and the Company’s Warehouse VIEs purchased 13.5% of such loans. For the three months ended September 30, 2021, one individual party purchased 24.7% of all Borrower Loans originated, and the Company’s Warehouse VIEs purchased 15.7% of such loans. Of all Borrower Loans originated in the nine months ended September 30, 2022, two individual third parties purchased 23.7% and 10.3% of suc h loans, and the Company’s Warehouse VIEs purchased 12.1% of such loans. For the nine months ended September 30, 2021 one individual party purchased 27.0% of such loans, and the Company’s Warehouse VIEs purchased 13.4% of such loans. These purchases reflect that a significant portion of Prosper’s business is dependent on funding through the Whole Loan Channel, through which 92% and 88% of Borrower Loans were originated in the nine months ended September 30, 2022 and 2021, respectively. 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. No individual borrower or investor accounted for 10% or more of consolidated net revenue for any of the periods presented .

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2022
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, 2021. The balance sheet at December 31, 2021 has been derived from the audited financial statements at that date. Management believes these unaudited interim condensed consolidated financial statements reflect all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the results for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. The preparation of Prosper’s condensed consolidated financial statements and related disclosures in conformity with US GAAP requires management to make judgments, assumptions and estimates that affect the amounts reported in Prosper’s financial statements and accompanying notes. Management bases its estimates on historical experience and on various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of certain assets and liabilities. These judgments, estimates and assumptions are inherently subjective in nature and actual results may differ from these estimates and assumptions. The accompanying interim condensed consolidated financial statements include the accounts of PMI, its wholly-owned subsidiaries and consolidated variable interest entities (“VIEs”). All intercompany balances have been eliminated in consolidation.
Fair Value Measurements	Fair Value Measurements Financial instruments measured at fair value consist principally of Borrower Loans, Loans Held for Sale (Note 4), Servicing Assets (Note 6), Credit Card derivative asset (Note 5), Loan Trailing Fee Liabilities (Note 9), Notes and Convertible Preferred Stock Warrant Liability (Note 12). 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 Warehouse Lines (Note 10) do not approximate their carrying values due primarily to differences in the stated and market rates associated with these instruments.
Restricted Cash	Restricted Cash Restricted Cash consists primarily of cash deposits, money market funds and short-term certificate of deposit accounts held as collateral as required for long term leases, loan funding and servicing activities, and cash that investors have on our marketplace that has not yet been invested in Borrower Loans or disbursed to the investor.
Borrower Loans, Loans Held for Sale 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 10, Debt for more details on Warehouse Lines. Borrower Loans and Loans Held for Sale are purchased from WebBank. Prosper places Borrower Loans and Loans Held for Sale on non-accrual status when they are 120 days past due. When a loan is placed on non-accrual status, Prosper stops accruing interest and reverses all accrued but unpaid interest as of such date. Additionally, Prosper charges-off Borrower Loans and Loans Held for Sale when they are 120 days past due. The fair value of loans 120 or more days past due generally consists of the expected recovery from debt sales in subsequent periods. Prosper has elected the fair value option for Borrower Loans, Loans Held for Sale 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, Net” 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	Credit Card In December 2021, the Company launched its Prosper Credit Card product in partnership with Coastal Community Bank (“Coastal”), through which eligible consumers are extended unsecured credit through Prosper-branded Credit Cards. In accordance with the related Program Agreement between Prosper and Coastal, the receivables associated with these Credit Cards are maintained on the balance sheet of Coastal. Customer accounts are then randomly designated as either Prosper Allocations or Coastal Allocations on an approximate 90% to 10% split, respectively. Each party receives 100% of the interest income and is responsible for the credit losses on its allocated customer accounts. Prosper is responsible for verified fraud losses across the entire portfolio. The Company evaluated the terms of the Program Agreement 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 in “Prepaid and Other Assets” on the accompanying condensed consolidated balance sheets. Changes in the fair value of the Credit Card derivative are included in “Changes in Fair Value of Financial Instruments, Net” on the accompanying condensed consolidated statements 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 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.
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. This ASU can be adopted after its issuance date through December 31, 2022. The Company is currently evaluating the impact reference rate reform will have on its contracts that reference LIBOR in order to determine whether to adopt this guidance.
Prosper Funding LLC
Entity Information [Line Items]
Basis of Presentation	Prosper Funding LLC (“PFL”) was formed in the state of Delaware in February 2012 as a limited liability company with Prosper Marketplace, Inc. (“PMI”) as its sole equity member. Except as the context otherwise requires, as used in these Notes to the condensed consolidated financial statements of Prosper Funding LLC, “PFL”, and the “Company” refers to Prosper Funding LLC and its wholly owned subsidiary, Prosper Depositor LLC, a Delaware limited liability company, on a consolidated basis. The unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“US GAAP”) and disclosure requirements for interim financial information and the requirements of Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. The unaudited interim condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2021. The balance sheet at December 31, 2021 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, 2022 and 2021. 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, 2022
Entity Information [Line Items]
Property and Equipment, Net	Property and Equipment consists of the following at the dates presented (in thousands): September 30, 2022 December 31, 2021 Internal-use software and website development costs $ 44,412 $ 41,816 Operating lease right-of-use assets 27,157 17,485 Computer equipment 13,188 15,090 Leasehold improvements 7,157 7,167 Office equipment and furniture 2,961 2,961 Assets not yet placed in service 6,634 5,224 Property and equipment 101,509 89,743 Less: Accumulated depreciation and amortization (62,229) (60,029) Total Property and Equipment, Net $ 39,280 $ 29,714
Prosper Funding LLC
Entity Information [Line Items]
Property and Equipment, Net	Property and equipment consist of the following as of the dates presented (in thousands): September 30, 2022 December 31, 2021 Internal-use software and web site development costs $ 33,141 $ 31,979 Less accumulated depreciation and amortization (24,068) (24,072) Total property and equipment, net $ 9,073 $ 7,907

BORROWER LOANS, LOANS HELD FO_2

BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2022
Entity Information [Line Items]
Aggregate Principal Balances Outstanding and Fair Values of Borrower Loans, Notes and Loans Held for Sale	The aggregate principal balances outstanding and fair values of Borrower Loans, Loans Held for Sale, and Notes as of September 30, 2022 and December 31, 2021, are presented in the following table (in thousands): Borrower Loans Loans Held for Sale Notes September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Aggregate principal balance outstanding $ 312,059 $ 265,232 $ 406,421 $ 242,278 $ 315,023 $ 267,415 Fair value adjustments (9,088) 2,394 (8,212) 892 (13,944) (1,430) Fair value $ 302,971 $ 267,626 $ 398,209 $ 243,170 $ 301,079 $ 265,985
Prosper Funding LLC
Entity Information [Line Items]
Aggregate Principal Balances Outstanding and Fair Values of Borrower Loans, Notes and Loans Held for Sale	The aggregate principal balances outstanding and fair values of Borrower Loans and Notes as of September 30, 2022 and December 31, 2021, are presented in the following table (in thousands): Borrower Loans Notes September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Aggregate principal balance outstanding $ 312,059 $ 265,232 $ 315,023 $ 267,415 Fair value adjustments (9,088) 2,394 (13,944) (1,430) Fair value $ 302,971 $ 267,626 $ 301,079 $ 265,985

FAIR VALUE OF ASSETS AND LIAB_2

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2022
Entity Information [Line Items]
Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value	The following tables present the fair value hierarchy for assets and liabilities measured at fair value (in thousands): September 30, 2022 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Loans Held for Sale at Fair Value $ — $ — $ 398,209 $ 398,209 Borrower Loans, at Fair Value — — 302,971 302,971 LIBOR rate swaption (Note 10) — 2,103 — 2,103 Servicing Assets — — 12,269 12,269 Credit Card derivative (Note 5) — — 7,837 7,837 Total Assets $ — $ 2,103 $ 721,286 $ 723,389 Liabilities: Notes, at Fair Value $ — $ — $ 301,079 $ 301,079 Convertible Preferred Stock Warrant Liability — — 162,081 162,081 Loan trailing fee liability (Note 9) — — 3,062 3,062 Credit Card servicing obligation liability (Note 5) — — 2,381 2,381 Total Liabilities $ — $ — $ 468,603 $ 468,603 December 31, 2021 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Loans Held for Sale at Fair Value $ — $ — $ 243,170 $ 243,170 Borrower Loans, at Fair Value — — 267,626 267,626 LIBOR rate swaption — 66 — 66 Servicing Assets — — 8,761 8,761 Total Assets $ — $ 66 $ 519,557 $ 519,623 Liabilities: Notes, at Fair Value $ — $ — $ 265,985 $ 265,985 Convertible Preferred Stock Warrant Liability — — 250,941 250,941 Loan trailing fee liability (Note 9) — — 2,161 2,161 Total Liabilities $ — $ — $ 519,087 $ 519,087
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, 2022 and December 31, 2021: Range Borrower Loans, Loans Held for Sale and Notes: September 30, 2022 December 31, 2021 Discount rate 5.5% - 18.6% 4.2% - 14.3% Default rate 1.5% - 14.0% 2.0% - 14.1% Range Servicing Assets: September 30, 2022 December 31, 2021 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.5% - 14.3% 1.5% - 14.1% Prepayment rate 9.8% - 27.4% 10.2% - 32.3% Market servicing rate (1) (2) 0.648% - 0.842% 0.648% - 0.842% (1) Servicing assets associated with loans enrolled in a relief program offered by the Company in response to the COVID-19 pandemic as of September 30, 2022 and December 31, 2021 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 of 64.8 basis points. (2) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of September 30, 2022 and December 31, 2021, 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 mark et servicing rate ran ge of 70.8 - 90.2 basis points and 70.8 - 90.2 basis points, respectively. Range Credit Card Derivative and Servicing Obligation Liability: September 30, 2022 Discount rate on Prosper Allocations 27.5% Discount rate on Coastal Program Fee 9.8% Default rate 7.0% - 14.4% Prepayment rate 9.5% - 17.8% Market servicing rate 2.0% Range Loan Trailing Fee Liability: September 30, 2022 December 31, 2021 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.5% - 14.3% 1.5% - 14.1% Prepayment rate 9.8% - 27.4% 10.2% - 32.3%
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present additional information about Level 3 Borrower Loans, Loans Held for Sale, Notes and Certificates Issued by Securitization Trust measured at fair value on a recurring basis (in thousands): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held For Sale Notes 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 Certificates Issued by Securitization Trust Total Balance at January 1, 2021 $ 378,263 $ 274,621 $ (208,379) $ (22,917) $ 421,588 Purchase of Borrower Loans/Issuance of Notes 172,082 1,248,316 (172,231) — 1,248,167 Principal repayments (215,076) (117,876) 126,528 14,935 (191,489) Borrower Loans sold to third parties (2,311) (1,118,526) — — (1,120,837) Other changes (1,545) (34) 205 113 (1,261) Deconsolidation of VIEs (Note 6) 1,628 (581) 635 (6,110) (4,428) Change in fair value (78,361) — — 13,979 (64,382) Balance at September 30, 2021 $ 254,680 $ 285,920 $ (253,242) $ — $ 287,358 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 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held For Sale Notes Certificates Issued by Securitization Trust Total Balance at July 1, 2021 $ 338,939 $ 249,955 $ (236,041) $ (15,295) $ 337,558 Purchase of Borrower Loans/Issuance of Notes 64,473 455,642 (64,028) — 456,087 Principal repayments (69,094) (44,422) 45,486 4,042 (63,988) Borrower Loans sold to third parties (587) (375,192) — — (375,779) Other changes (353) 233 (14) 41 (93) Change in fair value (337) (296) 1,355 (2,767) (2,045) Deconsolidation of VIEs (Note 6) (78,361) — — 13,979 (64,382) Balance at September 30, 2021 $ 254,680 $ 285,920 $ (253,242) $ — $ 287,358
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, 2022 and 2021 (in thousands): 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 January 1, 2021 $ 9,242 Additions 5,674 Recognition of Servicing Assets upon deconsolidation of VIEs 215 Less: Changes in fair value (6,430) Balance at September 30, 2021 $ 8,701 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 Servicing Assets Balance at July 1, 2021 8,944 Additions 1,895 Recognition of Servicing Assets upon deconsolidation of VIEs 215 Less: Changes in fair value (2,353) Balance at September 30, 2021 $ 8,701 The following tables present additional information about Level 3 Credit Card derivative measured at fair value on a recurring basis for the three and nine month periods ending September 30, 2022 and 2021 (in thousands): Credit Card Derivative Balance at January 1, 2022 $ 7 Changes in fair value 6,839 Gains from settled transactions 2,355 Less: Net payments received (1,364) Balance at September 30, 2022 $ 7,837 Credit Card Derivative Balance at July 1, 2022 $ 4,861 Changes in fair value 2,976 Gains from settled transactions 1,779 Less: Net payments received (1,779) Balance at September 30, 2022 $ 7,837 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, 2022 and 2021 (in thousands): Convertible Preferred Stock 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 Balance as of January 1, 2021 $ 112,319 Change in fair value 136,845 Balance as of September 30, 2021 $ 249,164 Convertible Preferred Stock Balance as of July 1, 2022 $ 173,455 Change in fair value (11,374) Balance at September 30, 2022 $ 162,081 Convertible Preferred Stock Balance as of July 1, 2021 $ 162,436 Change in fair value 86,728 Balance as of September 30, 2021 $ 249,164
Fair Value, Liabilities Measured on Recurring Basis	The following tables present additional information about the Level 3 Loan Trailing Fee Liability measured at fair value on a recurring basis for the three and nine month periods ending September 30, 2022 and 2021 (in thousands): 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 January 1, 2021 $ 2,233 Issuances 1,289 Cash Payment of Loan Trailing Fee (1,587) Change in Fair Value 248 Balance at September 30, 2021 $ 2,183 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 Loan Trailing Fee Liability Balance at July 1, 2021 2,145 Issuances 472 Cash Payment of Loan Trailing Fee (521) Change in Fair Value 87 Balance at September 30, 2021 $ 2,183
Fair Value Assumptions for Loans Held for Sale, Borrower Loans and Notes	Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2022 and December 31, 2021 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, 2022 December 31, 2021 Fair value, using the following assumptions: $ 701,180 $ 510,796 Weighted-average discount rate 7.84 % 5.64 % Weighted-average default rate 9.99 % 10.08 % Fair value resulting from: 100 basis point increase in discount rate $ 694,239 $ 505,732 200 basis point increase in discount rate $ 687,473 $ 500,763 Fair value resulting from: 100 basis point decrease in discount rate $ 708,301 $ 516,064 200 basis point decrease in discount rate $ 715,610 $ 521,437 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 695,007 $ 506,362 Applying a 1.2 multiplier to default rate $ 688,875 $ 501,921 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 707,390 $ 515,326 Applying a 0.8 multiplier to default rate $ 713,637 $ 519,851 Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2022 and December 31, 2021 for Notes are presented in the following table (in thousands, except percentages). Notes September 30, 2022 December 31, 2021 Fair value, using the following assumptions: $ 301,079 $ 265,985 Weighted-average discount rate 8.32 % 5.76 % Weighted-average default rate 11.78 % 10.70 % Fair value resulting from: 100 basis point increase in discount rate $ 298,094 $ 263,326 200 basis point increase in discount rate $ 295,184 $ 260,735 Fair value resulting from: 100 basis point decrease in discount rate $ 304,141 $ 268,714 200 basis point decrease in discount rate $ 307,284 $ 271,516 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 298,411 $ 263,644 Applying a 1.2 multiplier to default rate $ 295,761 $ 261,318 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 303,762 $ 268,340 Applying a 0.8 multiplier to default rate $ 306,462 $ 270,711
Schedule of Prosper's and Prosper Funding's Estimated Fair Value of Servicing Assets and Liabilities	Key economic assumptions and the sensitivity of the fair value to immediate changes in those assumptions at September 30, 2022 and December 31, 2021 for Servicing Assets is presented in the following table (in thousands, except percentages). Servicing Assets September 30, 2022 December 31, 2021 Fair value, using the following assumptions $ 12,269 $ 8,761 Weighted-average market servicing rate 0.649 % 0.650 % Weighted-average prepayment rate 20.85 % 20.82 % Weighted-average default rate 14.62 % 12.54 % Fair value resulting from: Market servicing rate increase of 0.025% $ 11,480 $ 8,203 Market servicing rate decrease of 0.025% $ 13,059 $ 9,320 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 11,973 $ 8,568 Applying a 0.9 multiplier to prepayment rate $ 12,572 $ 8,957 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 12,095 $ 8,646 Applying a 0.9 multiplier to default rate $ 12,445 $ 8,878
Schedule of Prosper's and Prosper Funding's Estimated Fair Value of Derivative Assets	Credit Card Derivative Asset September 30, 2022 Fair value, using the following assumptions: $ 7,837 Discount rate on Prosper Allocations 27.50 % Discount rate on Coastal Program Fee 9.84 % Weighted-average prepayment rate 12.00 % Weighted-average default rate 15.80 % Fair value resulting from: 100 basis point increase in both discount rates $ 7,772 200 basis point increase in both discount rates $ 7,708 Fair value resulting from: 100 basis point decrease in both discount rates $ 7,903 200 basis point decrease in both discount rates $ 7,970 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 7,701 Applying a 0.9 multiplier to prepayment rate $ 7,975 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 5,650 Applying a 0.9 multiplier to default rate $ 10,091
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, 2022 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and Cash Equivalents $ 43,530 $ 43,530 $ — $ — $ 43,530 Restricted Cash - Cash and Cash Equivalents 154,444 154,444 — — 154,444 Restricted Cash - Certificates of Deposit 4,879 — 4,879 — 4,879 Accounts Receivable 2,265 — 2,265 — 2,265 Total Assets $ 205,118 $ 197,974 $ 7,144 $ — $ 205,118 Liabilities: Accounts Payable and Accrued Liabilities $ 41,016 $ — $ 41,016 $ — $ 41,016 Payable to Investors 137,020 — 137,020 — 137,020 Warehouse Lines 354,799 — 353,229 — 353,229 Total Liabilities $ 532,835 $ — $ 531,265 $ — $ 531,265 December 31, 2021 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and Cash Equivalents $ 67,700 $ 67,700 $ — $ — $ 67,700 Restricted Cash - Cash and Cash Equivalents 163,047 163,047 — — 163,047 Restricted Cash - Certificates of Deposit 4,878 — 4,878 — 4,878 Accounts Receivable 1,054 — 1,054 — 1,054 Total Assets $ 236,679 $ 230,747 $ 5,932 $ — $ 236,679 Liabilities: Accounts Payable and Accrued Liabilities $ 25,790 $ — $ 25,790 $ — $ 25,790 Payable to Investors 152,794 — 152,794 — 152,794 Warehouse Lines 209,275 — 211,177 — 211,177 Paycheck Protection Program loan (Note 10) 8,590 — 8,556 — 8,556 Total Liabilities $ 396,449 $ — $ 398,317 $ — $ 398,317
Prosper Funding LLC
Entity Information [Line Items]
Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value	The following tables present the fair value hierarchy for assets and liabilities measured at fair value (in thousands): September 30, 2022 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 302,971 $ 302,971 Servicing Assets — — 14,074 14,074 Total Assets $ — $ — $ 317,045 $ 317,045 Liabilities: Notes, at Fair Value $ — $ — $ 301,079 $ 301,079 Loan Trailing Fee Liability — — 3,062 3,062 Total Liabilities $ — $ — $ 304,141 $ 304,141 December 31, 2021 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Assets: Borrower Loans, at Fair Value $ — $ — $ 267,626 $ 267,626 Servicing Assets — — 9,796 9,796 Total Assets $ — $ — $ 277,422 $ 277,422 Liabilities: Notes, at Fair Value $ — $ — $ 265,985 $ 265,985 Loan Trailing Fee Liability — — 2,161 2,161 Total Liabilities $ — $ — $ 268,146 $ 268,146
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, 2022 December 31, 2021 Discount rate 5.5% - 18.1% 4.3% - 13.9% Default rate 2.0% - 14.0% 2.0% - 13.5% Range Servicing Assets September 30, 2022 December 31, 2021 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.5% - 14.3% 1.5% - 14.1% Prepayment rate 9.8% - 27.4% 10.2% - 32.3% Market servicing rate (1) (2) 0.648% - 0.842% 0.648% - 0.842% (1) Servicing assets associated with loans enrolled in a relief program offered by the Company in response to the COVID-19 pandemic as of September 30, 2022 and December 31, 2021 were measured using a market servicing rate assumption o f 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 of 64.8 basis points. (2) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of September 30, 2022 and December 31, 2021, 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 rang e of 70.8 - 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, 2022 December 31, 2021 Discount rate 15.0% - 25.0% 15.0% - 25.0% Default rate 1.5% - 14.3% 1.5% - 14.1% Prepayment rate 9.8% - 27.4% 10.2% - 32.3%
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, 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 January 1, 2021 $ 209,670 $ — $ (208,379) $ 1,291 Originations 172,082 1,248,316 (172,231) 1,248,167 Principal repayments (125,672) — 126,528 856 Borrower Loans sold to third parties (1,069) (1,248,316) — (1,249,385) Other changes (223) — 205 (18) Change in fair value (108) — 635 527 Balance at September 30, 2021 $ 254,680 $ — $ (253,242) $ 1,438 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 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Assets Liabilities Borrower Loans Loans Held for Sale Notes Total Balance at July 1, 2021 $ 236,844 $ — $ (236,041) $ 803 Originations 64,473 455,642 (64,028) 456,087 Principal repayments (45,338) — 45,486 148 Borrower Loans sold to third parties (300) (455,642) — (455,942) Other changes (15) — (14) (29) Change in fair value (984) — 1355 371 Balance at September 30, 2021 $ 254,680 $ — $ (253,242) $ 1,438
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, 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 January 1, 2021 $ 11,088 Additions 6,676 Less: Changes in fair value (7,796) Balance as of September 30, 2021 $ 9,968 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 Servicing Assets Balance as of July 1, 2021 10,389 Additions 2,300 Less: Changes in fair value (2,721) Balance as of September 30, 2021 $ 9,968 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, 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 January 1, 2021 $ 2,233 Issuances 1,289 Cash payment of Loan Trailing Fee (1,587) Change in fair value 248 Balance as of September 30, 2021 $ 2,183 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 Loan Trailing Fee Liability Balance as of July 1, 2021 2,145 Issuances 472 Cash payment of Loan Trailing Fee (521) Change in fair value 87 Balance as of September 30, 2021 $ 2,183
Fair Value Assumptions for Loans Held for Sale, Borrower Loans and Notes	Key economic assumptions are used to compute the fair value of Borrower Loans. The sensitivity of the fair value to immediate changes in assumptions at September 30, 2022 and December 31, 2021 for Borrower Loans are presented in the following table (in thousands, except percentages). Borrower Loans: September 30, 2022 December 31, 2021 Fair value, using the following assumptions: $ 302,971 $ 267,626 Weighted-average discount rate 8.32 % 5.76 % Weighted-average default rate 11.78 % 10.70 % Fair value resulting from: 100 basis point increase in discount rate $ 299,972 $ 265,104 200 basis point increase in discount rate $ 297,048 $ 262,499 Fair value resulting from: 100 basis point decrease in discount rate $ 306,048 $ 270,520 200 basis point decrease in discount rate $ 309,206 $ 273,337 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 300,304 $ 265,435 Applying a 1.2 multiplier to default rate $ 297,654 $ 263,107 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 305,654 $ 270,133 Applying a 0.8 multiplier to default rate $ 308,353 $ 272,505 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, 2022 and December 31, 2021 for Notes funded through the Note Channel are presented in the following table (in thousands, except percentages). Notes September 30, 2022 December 31, 2021 Fair value, using the following assumptions: $ 301,079 $ 265,985 Weighted-average discount rate 8.32 % 5.76 % Weighted-average default rate 11.78 % 10.70 % Fair value resulting from: 100 basis point increase in discount rate $ 298,094 $ 263,326 200 basis point increase in discount rate $ 295,184 $ 260,735 Fair value resulting from: 100 basis point decrease in discount rate $ 304,141 $ 268,714 200 basis point decrease in discount rate $ 307,284 $ 271,516 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 298,411 $ 263,644 Applying a 1.2 multiplier to default rate $ 295,761 $ 261,318 Fair value resulting from: Applying a 0.9 multiplier to default rate $ 303,762 $ 268,340 Applying a 0.8 multiplier to default rate $ 306,462 $ 270,711
Schedule of Prosper's and Prosper Funding's Estimated Fair Value of Servicing Assets and Liabilities	Key economic assumptions are used to compute the fair value of Servicing Assets. The sensitivity of the current fair value to immediate changes in assumptions at September 30, 2022 and December 31, 2021 for Servicing Assets are presented in the following table (in thousands, except percentages). Servicing Assets September 30, 2022 December 31, 2021 Fair value, using the following assumptions: $ 14,074 $ 9,796 Weighted-average market servicing rate 0.649 % 0.650 % Weighted-average prepayment rate 20.85 % 20.82 % Weighted-average default rate 13.91 % 12.24 % Fair value resulting from: Market servicing rate increase of 0.025% $ 13,168 $ 9,171 Market servicing rate decrease of 0.025% $ 14,980 $ 10,421 Fair value resulting from: Applying a 1.1 multiplier to prepayment rate $ 13,734 $ 9,580 Applying a 0.9 multiplier to prepayment rate $ 14,421 $ 10,015 Fair value resulting from: Applying a 1.1 multiplier to default rate $ 13,874 $ 9,667 Applying a 0.9 multiplier to default rate $ 14,275 $ 9,926

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 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 (4,824) 226 2.6 Brand name 60 (60) — — Total Intangible Assets subject to amortization $ 8,170 $ (7,944) $ 226
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, 2022 (remainder thereof) $ 34 2023 107 2024 85 Total $ 226

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2022
Other Liabilities [Abstract]
Schedule of Other Liabilities	Other Liabilities consist of the following (in thousands): September 30, 2022 December 31, 2021 Operating lease liabilities $ 17,429 $ 11,026 Deferred revenue 3,045 1,196 Loan trailing fee liability 3,062 2,161 Credit Card servicing obligation liability (Note 5) 2,381 — Deferred income tax liability 621 560 Financing lease liabilities 78 78 Paycheck Protection Program loan (Note 10) — 8,590 Other 350 289 Total Other Liabilities $ 26,966 $ 23,900

NET INCOME (LOSS) PER SHARE (Ta

NET INCOME (LOSS) PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Basic and Diluted Net Income (Loss) per Share	Basic and diluted income (loss) per share were calculated as follows for the periods presented (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2022 2022 2021 2022 2021 Numerator: Net Income (Loss) $ 8,621 $ (88,061) $ 87,918 $ (138,755) Less: Net Income Allocated to Participating Securities (5,772) — (59,054) — Net Income (Loss) Attributable to Common Stockholders $ 2,849 $ (88,061) $ 28,864 $ (138,755) Denominator: Weighted average shares used in computing basic net income (loss) per share 73,731,925 71,068,442 73,010,111 70,433,182 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 341,959,266 71,068,442 348,703,804 70,433,182 Net Income (Loss) Per Share – Basic $ 0.04 $ (1.24) $ 0.40 $ (1.97) Net Income (Loss) Per Share – Diluted $ 0.01 $ (1.24) $ 0.08 $ (1.97)
Common Stock Equivalents Excluded from Computation of Diluted Net Income (Loss) per Share	The following common stock equivalents were excluded from the computation of diluted net 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, 2022 2021 2022 2021 (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 16,382,524 70,601,482 16,227,752 72,845,826 Warrants issued and outstanding 669,512 1,080,349 480,155 1,080,349 Series E-1 convertible preferred stock warrants — 35,544,141 — 35,544,141 Series F convertible preferred stock warrants — 177,720,704 — 177,720,704 Total common stock equivalents excluded from diluted net income (loss) per common share computation 175,417,691 443,312,331 175,073,562 445,556,675

CONVERTIBLE PREFERRED STOCK, _2

CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK (Tables)	9 Months Ended
	Sep. 30, 2022
Stockholders' Equity Note [Abstract]
Summary of Shares Authorized, Issued, Outstanding, Par Value and Liquidation Preference of Convertible Preferred Stock	The number of authorized, issued and outstanding shares, their par value and liquidation preference for each series of convertible preferred stock as of September 30, 2022 are disclosed in the table below (amounts in thousands except share and par value amounts): Convertible Preferred Stock Par Value Authorized Shares Outstanding and Issued Shares Liquidation Preference, Outstanding Shares Series A $ 0.01 68,558,220 66,428,185 * $ 19,160 Series A-1 $ 0.01 24,760,915 22,515,315 45,031 Series B $ 0.01 35,775,880 35,127,160 * 21,190 Series C $ 0.01 24,404,770 24,404,770 70,075 Series D $ 0.01 23,888,640 23,888,640 165,000 Series E-1 $ 0.01 35,544,141 — — Series E-2 $ 0.01 16,858,078 — — Series F $ 0.01 177,720,707 3 — Series G $ 0.01 37,249,497 37,249,497 50,000 Total 444,760,848 209,613,570 $ 370,456 * Series A and Series B Convertible Preferred Stock totals are inclusive of 34,670,420 and 16,577,495 shares, respectively, held by PGT, a consolidated VIE.
Schedule of Assumptions Used	The Company determined the fair value of the outstanding Series E-1 Warrants utilizing the following assumptions as of the following dates: September 30, 2022 December 31, 2021 Volatility 74.0 % 63.0 % Risk-free interest rate 4.20 % 0.90 % 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, 2022 December 31, 2021 Volatility 74.0 % 63.0 % Risk-free interest rate 4.20 % 0.90 % Expected term (in years) 2.75 2.75 Dividend yield — % — %

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summarized Option Activity under Option Plan	Stock option activity under the 2005 Plan and 2015 Plan is summarized for the nine months ended September 30, 2022 below: Options Issued and Outstanding Weighted Average Exercise Price Balance as of January 1, 2022 72,186,151 $ 0.07 Options issued 13,822,243 $ 0.66 Options exercised (1,860,480) $ 0.02 Options forfeited (3,703,067) $ 0.22 Options expired (5,825) $ 0.02 Balance as of September 30, 2022 80,439,022 $ 0.16 Options vested and expected to vest as of September 30, 2022 72,283,669 $ 0.16 Options vested and exercisable as of September 30, 2022 53,632,329 $ 0.04
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, 2022 and 2021 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, 2022 2021 2022 2021 Volatility of common stock 68.09 % 64.84 % 67.08 % 64.37 % Risk-free interest rate 2.87 % 0.97 % 2.61 % 0.99 % Expected life (in years) 6.0 years 6.0 years 6.0 years 6.0 years Dividend yield — % — % — % — %
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, 2022 2021 2022 2021 Origination and servicing $ 36 $ 30 $ 98 $ 92 Sales and marketing 215 15 417 47 General and administrative 245 225 780 718 Total stock-based compensation $ 496 $ 270 $ 1,295 $ 857

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022, which are included in “Property and Equipment, Net” on the condensed consolidated balance sheets. September 30, 2022 Gross Carrying Value Accumulated Amortization Net Carrying Value ROU Assets - Office buildings $ 26,257 $ 11,518 $ 14,739 ROU Assets - Other 900 615 285 Total right-of-use assets subject to amortization $ 27,157 $ 12,133 $ 15,024
Schedule of Future Minimum Lease Payments	Future maturities of operating lease liabilities as of September 30, 2022 were as follows (in thousands). The present value of the future minimum lease payments represents our operating lease liabilities as of September 30, 2022 and are included in " Other Liabilities September 30, 2022 Remainder of 2022 $ 1,435 2023 3,820 2024 4,391 2025 4,517 2026 4,432 Thereafter 4,723 Total future minimum lease payments $ 23,318 Less imputed interest (5,889) Present value of future minimum lease payments $ 17,429
Summary of Other Information Related to Leases	Other information related to leases was as follows (dollars in thousands): September 30, 2022 Cash paid for operating leases year-to-date $ 4,350 Weighted average remaining lease term (in years) 5.02 years Weighted average discount rate 10.82 %

RELATED PARTIES (Tables)

RELATED PARTIES (Tables)	9 Months Ended
	Sep. 30, 2022
Entity Information [Line Items]
Aggregate Amount of Notes Purchased and the Income Earned	The aggregate amount of the Notes purchased and the income earned by parties deemed to be affiliates and related parties of Prosper for the three and nine months ended September 30, 2022 and 2021, as well as the Notes outstanding as of September 30, 2022 and December 31, 2021 are summarized below (in thousands): Aggregate Amount of Interest Earned on Notes Related Party 2022 2021 2022 2021 Executive officers and management $ 9 $ 9 $ 2 $ 2 Directors (excluding executive officers and management) — 4 — 1 Total $ 9 $ 13 $ 2 $ 3 Aggregate Amount of Interest Earned on Notes Related Party 2022 2021 2022 2021 Executive officers and management $ 28 $ 26 $ 6 $ 5 Directors (excluding executive officers and management) — 24 1 1 Total $ 28 $ 50 $ 7 $ 6 Notes Balance as of Related Party September 30, 2022 December 31, Executive officers and management $ 51 $ 41 Directors (excluding executive officers and management) 7 15 Total $ 58 $ 56
Prosper Funding LLC
Entity Information [Line Items]
Aggregate Amount of Notes Purchased and the Income Earned	The aggregate amount of the Notes purchased and the income earned by parties deemed to be related parties of PFL for the three and nine months ended September 30, 2022 and 2021 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 2022 2021 2022 2021 Executive officers and management $ 8 $ 9 $ 2 $ 2 Directors (excluding executive officers and management) — — — — Total $ 8 $ 9 $ 2 $ 2 Aggregate Amount of Interest Earned on Notes Related Party 2022 2021 2022 2021 Executive officers and management $ 26 $ 26 $ 5 $ 5 Directors (excluding executive officers and management) — — — — Total $ 26 $ 26 $ 5 $ 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, 2022 December 31, 2021 Executive officers and management $ 45 $ 41 Directors (excluding executive officers and management) — — Total $ 45 $ 41

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Credit Card (Details)	1 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Allocation split percentage, prosper allocation	90%
Allocation split percentage, partner allocation	10%
Income received percentage	100%

PROPERTY AND EQUIPMENT, NET - S

PROPERTY AND EQUIPMENT, NET - Schedule of PPE (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
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	$ 101,509	$ 89,743
Less: Accumulated depreciation and amortization	(62,229)	(60,029)
Total Property and Equipment, Net	39,280	29,714
Prosper Funding LLC
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation and amortization	(24,068)	(24,072)
Total Property and Equipment, Net	9,073	7,907
Internal-use software and website development costs
Property, Plant and Equipment [Line Items]
Property and equipment	44,412	41,816
Internal-use software and website development costs | Prosper Funding LLC
Property, Plant and Equipment [Line Items]
Property and equipment	33,141	31,979
Operating lease right-of-use assets
Property, Plant and Equipment [Line Items]
Operating lease right-of-use assets	27,157	17,485
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment	13,188	15,090
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	7,157	7,167
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Property and equipment	2,961	2,961
Assets not yet placed in service
Property, Plant and Equipment [Line Items]
Property and equipment	$ 6,634	$ 5,224

PROPERTY AND EQUIPMENT, NET - A

PROPERTY AND EQUIPMENT, NET - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Line Items]
Depreciation and Amortization			$ 8,218	$ 7,224
Prosper Funding LLC
Property, Plant and Equipment [Line Items]
Depreciation and Amortization	$ 1,500	$ 1,300	4,168	3,540
Property Plant And Equipment
Property, Plant and Equipment [Line Items]
Depreciation and Amortization	2,900	2,500	8,200	7,100
Internal-use software and website development costs
Property, Plant and Equipment [Line Items]
Capitalized internal-use software and website development costs	$ 2,800	$ 2,600	$ 8,100	$ 7,100

BORROWER LOANS, LOANS HELD FO_3

BORROWER LOANS, LOANS HELD FOR SALE AND NOTES, AT FAIR VALUE - Aggregate Principal Balances Outstanding and Fair Values of Borrower Loans, Notes and Loans Held for Sale (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrower Loans, at Fair Value		$ 302,971	$ 267,626
Loans Held for Sale, at Fair Value	[1]	398,209	243,170
Notes, at Fair Value		301,079	265,985
Prosper Funding LLC
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrower Loans, at Fair Value		302,971	267,626
Notes, at Fair Value		301,079	265,985
Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes, Aggregate principal balance outstanding		315,023	267,415
Notes, Fair value adjustments		(13,944)	(1,430)
Notes, at Fair Value		301,079	265,985
Notes | Prosper Funding LLC
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Notes, Aggregate principal balance outstanding		315,023	267,415
Notes, Fair value adjustments		(13,944)	(1,430)
Notes, at Fair Value		301,079	265,985
Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrower Loans, Aggregate principal balance outstanding		312,059	265,232
Fair value adjustments		(9,088)	2,394
Borrower Loans, at Fair Value		302,971	267,626
Borrower Loans | Prosper Funding LLC
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Borrower Loans, Aggregate principal balance outstanding		312,059	265,232
Fair value adjustments		(9,088)	2,394
Borrower Loans, at Fair Value		302,971	267,626
Loans Held for Sale
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Loans Held for Sale, Aggregate principal balance outstanding		406,421	242,278
Fair value adjustments		(8,212)	892
Loans Held for Sale, at Fair Value		$ 398,209	$ 243,170
[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. See Note 10, Debt, to our Notes to Condensed Consolidated Financial Statements for add itional information. September 30, 2022 December 31, 2021 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 7,313 $ 5,128 Loans Held for Sale, at Fair Value 398,209 243,170 Prepaid and Other Assets 4,241 2,846 Total assets of consolidated variable interest entities $ 409,763 $ 251,144 Liabilities of consolidated VIEs, included in total liabilities above: Warehouse Lines $ 354,799 $ 209,275 Total liabilities of consolidated variable interest entities $ 354,799 $ 209,275

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Non accrual status past due date			120 days
Interest income	$ 6,742	$ 8,404	$ 19,534	$ 25,472
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
Maturity term three, in months			48 months
Maturity term four, in months			60 months
Fixed interest rate, minimum			5.31%		5.31%
Fixed interest rate, maximum			33%		31.82%
Fair value of loans originated that are 90 days or more delinquent	200		$ 200		$ 100
Loans in non-accrual status	200		200		100
Borrower Loans | 90 days or more past due
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal amount	2,000		$ 2,000		$ 900
Loans Held for Sale
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity term one, in months			24 months
Maturity term two, in months			36 months
Maturity term three, in months			48 months
Maturity term four, in months			60 months
Fixed interest rate, minimum			5.31%		5.31%
Fixed interest rate, maximum			33%		31.82%
Fair value of loans originated that are 90 days or more delinquent	200		$ 200		$ 100
Loans in non-accrual status	100		100		100
Interest income			27,700	23,700
Loans Held for Sale | 90 days or more past due
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal amount	1,500		1,500		$ 800
Prosper Funding LLC
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest income	834	$ 639	$ 2,283	$ 1,764
Prosper Funding LLC | 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
Maturity term three, in months			48 months
Maturity term four, in months			60 months
Fixed interest rate, minimum			5.31%		5.31%
Fixed interest rate, maximum			33%		31.82%
Fair value of loans originated that are 90 days or more delinquent	200		$ 200		$ 100
Non accrual status past due date			120 days
Loans in non-accrual status	200		$ 200		100
Prosper Funding LLC | Borrower Loans | 90 days or more past due
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Aggregate principal amount	$ 2,000		$ 2,000		$ 900
Minimum | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months					36 months
Minimum | Loans Held for Sale
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months					36 months
Minimum | Prosper Funding LLC | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months					36 months
Maximum | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months					60 months
Maximum | Loans Held for Sale
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months					60 months
Maximum | Prosper Funding LLC | Borrower Loans
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Maturity, in months					60 months

CREDIT CARD (Details)

CREDIT CARD (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Various fees and charges	$ 2,200	$ 3,700
Servicing fee, percentage		1%
Servicing liability	2,381	$ 2,381	$ 0
Change in fair value of servicing liability	(1,100)	(2,400)
Credit Card Derivative
Derivative [Line Items]
Revenue earned	3,000	6,800
Gain on settled transactions	1,800	2,400
Derivative asset	$ 7,837	$ 7,837

SERVICING ASSETS (Details)

SERVICING ASSETS (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Servicing Assets And Liabilities Fair Value [Line Items]
Gain (loss) on sale of borrower loans		$ (1,145)	$ 1,928	$ 3,886	$ 4,917
Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Gain (loss) on sale of borrower loans		(346)	2,404	5,611	6,078
Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Outstanding principle	$ 2,300,000	3,000,000		$ 3,000,000		$ 2,300,000
Maturity term one, in months				24 months
Maturity term two, in months				36 months
Maturity term three, in months				48 months
Maturity term four, in months				60 months
Fixed interest rate, minimum				5.31%		5.31%
Fixed interest rate, maximum				33%		31.82%
Contractually specified servicing fees, late charges and ancillary fees		7,800	6,300	$ 21,000	18,100
Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Outstanding principle	$ 2,500,000	3,400,000		$ 3,400,000		$ 2,500,000
Fixed interest rate, minimum	5.31%			5.31%
Fixed interest rate, maximum	31.82%			33%
Contractually specified servicing fees, late charges and ancillary fees		$ 9,100	$ 8,800	$ 24,100	$ 27,100
Minimum | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Maturity, in months						36 months
Minimum | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Maturity, in months	36 months
Maturity term one, in months				24 months
Maturity term three, in months				48 months
Maximum | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Maturity, in months						60 months
Maximum | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Maturity, in months	60 months
Maturity term two, in months				36 months
Maturity term four, in months				60 months

FAIR VALUE OF ASSETS AND LIAB_3

FAIR VALUE OF ASSETS AND LIABILITIES - Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands		Sep. 30, 2022	Dec. 31, 2021
Assets:
Loans Held for Sale, at Fair Value	[1]	$ 398,209	$ 243,170
Borrower Loans, at Fair Value		302,971	267,626
Servicing Assets		12,269	8,761
Total Assets		723,389	519,623
Liabilities:
Notes, at Fair Value		301,079	265,985
Convertible Preferred Stock Warrant Liability		162,081	250,941
Loan trailing fee liability (Note 9)		3,062	2,161
Credit Card servicing obligation liability (Note 5)		2,381
Total Liabilities		468,603	519,087
Interest Rate Swaption
Assets:
Derivative asset		2,103	66
Credit Card Derivative
Assets:
Derivative asset		7,837
Prosper Funding LLC
Assets:
Borrower Loans, at Fair Value		302,971	267,626
Servicing Assets		14,074	9,796
Total Assets		317,045	277,422
Liabilities:
Notes, at Fair Value		301,079	265,985
Loan trailing fee liability (Note 9)		3,062	2,161
Total Liabilities		304,141	268,146
Level 1 Inputs
Assets:
Loans Held for Sale, at Fair Value		0	0
Borrower Loans, at Fair Value		0	0
Servicing Assets		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 9)		0	0
Credit Card servicing obligation liability (Note 5)		0
Total Liabilities		0	0
Level 1 Inputs | Interest Rate Swaption
Assets:
Derivative asset		0	0
Level 1 Inputs | Credit Card Derivative
Assets:
Derivative asset		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 9)		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
Servicing Assets		0	0
Total Assets		2,103	66
Liabilities:
Notes, at Fair Value		0	0
Convertible Preferred Stock Warrant Liability		0	0
Loan trailing fee liability (Note 9)		0	0
Credit Card servicing obligation liability (Note 5)		0
Total Liabilities		0	0
Level 2 Inputs | Interest Rate Swaption
Assets:
Derivative asset		2,103	66
Level 2 Inputs | Credit Card Derivative
Assets:
Derivative asset		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 9)		0	0
Total Liabilities		0	0
Level 3 Inputs
Assets:
Loans Held for Sale, at Fair Value		398,209	243,170
Borrower Loans, at Fair Value		302,971	267,626
Servicing Assets		12,269	8,761
Total Assets		721,286	519,557
Liabilities:
Notes, at Fair Value		301,079	265,985
Convertible Preferred Stock Warrant Liability		162,081	250,941
Loan trailing fee liability (Note 9)		3,062	2,161
Credit Card servicing obligation liability (Note 5)		2,381
Total Liabilities		468,603	519,087
Level 3 Inputs | Interest Rate Swaption
Assets:
Derivative asset		0	0
Level 3 Inputs | Credit Card Derivative
Assets:
Derivative asset		7,837
Level 3 Inputs | Prosper Funding LLC
Assets:
Borrower Loans, at Fair Value		302,971	267,626
Servicing Assets		14,074	9,796
Total Assets		317,045	277,422
Liabilities:
Notes, at Fair Value		301,079	265,985
Loan trailing fee liability (Note 9)		3,062	2,161
Total Liabilities		$ 304,141	$ 268,146
[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. See Note 10, Debt, to our Notes to Condensed Consolidated Financial Statements for add itional information. September 30, 2022 December 31, 2021 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 7,313 $ 5,128 Loans Held for Sale, at Fair Value 398,209 243,170 Prepaid and Other Assets 4,241 2,846 Total assets of consolidated variable interest entities $ 409,763 $ 251,144 Liabilities of consolidated VIEs, included in total liabilities above: Warehouse Lines $ 354,799 $ 209,275 Total liabilities of consolidated variable interest entities $ 354,799 $ 209,275

FAIR VALUE OF ASSETS AND LIAB_4

FAIR VALUE OF ASSETS AND LIABILITIES - Significant Unobservable Inputs - Borrower Loans, Loans Held For Sale and Notes (Details)	Sep. 30, 2022	Dec. 31, 2021
Discount rate | Minimum
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.055	0.042
Discount rate | Minimum | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.055	0.043
Discount rate | Maximum
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.186	0.143
Discount rate | Maximum | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.181	0.139
Default rate | Minimum
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.015	0.020
Default rate | Minimum | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.020	0.020
Default rate | Maximum
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.140	0.141
Default rate | Maximum | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value measurement inputs	0.140	0.135

FAIR VALUE OF ASSETS AND LIAB_5

FAIR VALUE OF ASSETS AND LIABILITIES - Significant Unobservable Inputs - Credit Card Derivative and Servicing Obligation Liability (Details)	9 Months Ended
	Sep. 30, 2022
Discount rate on Prosper Allocations
Fair Value Inputs Assets Quantitative Information [Line Items]
Derivative asset and servicing liability measurement input	0.275
Discount rate on Coastal Program Fee
Fair Value Inputs Assets Quantitative Information [Line Items]
Derivative asset and servicing liability measurement input	0.098
Market servicing rate
Fair Value Inputs Assets Quantitative Information [Line Items]
Derivative asset and servicing liability measurement input	0.020
Minimum | Default rate
Fair Value Inputs Assets Quantitative Information [Line Items]
Derivative asset and servicing liability measurement input	0.070
Minimum | Prepayment rate
Fair Value Inputs Assets Quantitative Information [Line Items]
Derivative asset and servicing liability measurement input	0.095
Maximum | Default rate
Fair Value Inputs Assets Quantitative Information [Line Items]
Derivative asset and servicing liability measurement input	0.144
Maximum | Prepayment rate
Fair Value Inputs Assets Quantitative Information [Line Items]
Derivative asset and servicing liability measurement input	0.178

FAIR VALUE OF ASSETS AND LIAB_6

FAIR VALUE OF ASSETS AND LIABILITIES - Significant Unobservable Inputs - Servicing Rights (Details)			9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2022	Dec. 31, 2021
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			1.50%	1.50%
Prepayment rate			9.80%	10.20%
Market servicing rate	0.648%	0.648%	0.648%	0.648%
Weighted-average market servicing rate	0.708%	0.708%
Minimum | Prosper Funding LLC
Servicing Rights at Fair Value [Line Items]
Discount rate			15%	15%
Default rate			1.50%	1.50%
Prepayment rate			9.80%	10.20%
Market servicing rate	0.648%	0.648%	0.648%	0.648%
Weighted-average market servicing rate	0.708%	0.708%
Maximum
Servicing Rights at Fair Value [Line Items]
Discount rate			25%	25%
Default rate			14.30%	14.10%
Prepayment rate			27.40%	32.30%
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			14.30%	14.10%
Prepayment rate			27.40%	32.30%
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_7

FAIR VALUE OF ASSETS AND LIABILITIES - Significant Unobservable Inputs - Loan Trailing Fee Liability (Details)	Sep. 30, 2022	Dec. 31, 2021
Discount rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.055	0.042
Discount rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.186	0.143
Discount rate | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.055	0.043
Discount rate | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.181	0.139
Discount rate | Obligations | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.150	0.150
Discount rate | Obligations | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.250	0.250
Discount rate | Obligations | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.150	0.150
Discount rate | Obligations | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.250	0.250
Default rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.015	0.020
Default rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.140	0.141
Default rate | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.020	0.020
Default rate | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.140	0.135
Default rate | Obligations | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.015	0.015
Default rate | Obligations | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.143	0.141
Default rate | Obligations | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.015	0.015
Default rate | Obligations | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.143	0.141
Prepayment rate | Obligations | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.098	0.102
Prepayment rate | Obligations | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.274	0.323
Prepayment rate | Obligations | Prosper Funding LLC | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.098	0.102
Prepayment rate | Obligations | Prosper Funding LLC | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement inputs	0.274	0.323

FAIR VALUE OF ASSETS AND LIAB_8

FAIR VALUE OF ASSETS AND LIABILITIES - Changes in Level 3 Fair Value Assets and Liabilities on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Total
Beginning balance, Total	$ 314,065	$ 337,558	$ 244,811	$ 421,588
Purchase of Borrower Loans/Issuance of Notes	979,353	456,087	2,271,476	1,248,167
Principal repayments	46,862	63,988	129,268	191,489
Borrower Loans sold to third parties	(839,276)	(375,779)	(1,970,973)	(1,120,837)
Other changes	432	(93)	832	(1,261)
Deconsolidation of VIEs (Note 6)		(64,382)		(4,428)
Change in fair value	(7,611)	(2,045)	(16,777)	(64,382)
Ending balance, Total	400,101	287,358	400,101	287,358
Prosper Funding LLC
Total
Beginning balance, Total	1,372	803	1,641	1,291
Purchase of Borrower Loans/Issuance of Notes	979,353	456,087	2,271,476	1,248,167
Principal repayments	625	148	1,399	856
Borrower Loans sold to third parties	(979,166)	(455,942)	(2,272,638)	(1,249,385)
Other changes	(143)	(29)	(104)	(18)
Change in fair value	(149)	371	118	527
Ending balance, Total	1,892	1,438	1,892	1,438
Notes
Liabilities
Beginning balance, Liabilities	(300,521)	(236,041)	(265,985)	(208,379)
Purchase of Borrower Loans/Issuance of Notes	(69,797)	(64,028)	(214,107)	(172,231)
Principal repayments	60,375	45,486	158,105	126,528
Borrower Loans sold to third parties	0	0	0	0
Other changes	(207)	(14)	(320)	205
Deconsolidation of VIEs (Note 6)		0		635
Change in fair value	9,071	1,355	21,228	0
Ending balance, Liabilities	(301,079)	(253,242)	(301,079)	(253,242)
Notes | Prosper Funding LLC
Liabilities
Beginning balance, Liabilities	(300,521)	(236,041)	(265,985)	(208,379)
Purchase of Borrower Loans/Issuance of Notes	(69,797)	(64,028)	(214,107)	(172,231)
Principal repayments	60,375	45,486	158,105	126,528
Borrower Loans sold to third parties	0	0	0	0
Other changes	(207)	(14)	(320)	205
Change in fair value	9,071	1,355	21,228	635
Ending balance, Liabilities	(301,079)	(253,242)	(301,079)	(253,242)
Certificates Issued by Securitization Trust
Liabilities
Beginning balance, Liabilities		(15,295)		(22,917)
Purchase of Borrower Loans/Issuance of Notes		0		0
Principal repayments		4,042		14,935
Borrower Loans sold to third parties		0		0
Other changes		41		113
Deconsolidation of VIEs (Note 6)		13,979		(6,110)
Change in fair value		(2,767)		13,979
Ending balance, Liabilities		0		0
Borrower Loans
Assets
Beginning balance, Assets	301,893	338,939	267,626	378,263
Purchase of Borrower Loans/Issuance of Notes	70,486	64,473	214,271	172,082
Principal repayments	(59,750)	(69,094)	(156,706)	(215,076)
Borrower Loans sold to third parties	(502)	(587)	(1,326)	(2,311)
Other changes	64	(353)	216	(1,545)
Deconsolidation of VIEs (Note 6)		(78,361)		1,628
Change in fair value	(9,220)	(337)	(21,110)	(78,361)
Ending balance, Assets	302,971	254,680	302,971	254,680
Borrower Loans | Prosper Funding LLC
Assets
Beginning balance, Assets	301,893	236,844	267,626	209,670
Purchase of Borrower Loans/Issuance of Notes	70,486	64,473	214,271	172,082
Principal repayments	(59,750)	(45,338)	(156,706)	(125,672)
Borrower Loans sold to third parties	(502)	(300)	(1,326)	(1,069)
Other changes	64	(15)	216	(223)
Change in fair value	(9,220)	(984)	(21,110)	(108)
Ending balance, Assets	302,971	254,680	302,971	254,680
Loans Held for Sale
Assets
Beginning balance, Assets	312,693	249,955	243,170	274,621
Purchase of Borrower Loans/Issuance of Notes	978,664	455,642	2,271,312	1,248,316
Principal repayments	(47,487)	(44,422)	(130,667)	(117,876)
Borrower Loans sold to third parties	(838,774)	(375,192)	(1,969,647)	(1,118,526)
Other changes	575	233	936	(34)
Deconsolidation of VIEs (Note 6)		0		(581)
Change in fair value	(7,462)	(296)	(16,895)	0
Ending balance, Assets	398,209	285,920	398,209	285,920
Loans Held for Sale | Prosper Funding LLC
Assets
Beginning balance, Assets	0	0	0	0
Purchase of Borrower Loans/Issuance of Notes	978,664	455,642	2,271,312	1,248,316
Principal repayments	0	0	0	0
Borrower Loans sold to third parties	(978,664)	(455,642)	(2,271,312)	(1,248,316)
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_9

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Servicing Assets
Beginning balance			$ 8,761
Ending balance	$ 12,269		12,269
Prosper Funding LLC
Servicing Assets
Beginning balance			9,796
Ending balance	14,074		14,074
Servicing Assets
Servicing Assets
Beginning balance			8,761
Ending balance	12,269		12,269
Servicing Assets | Prosper Funding LLC
Servicing Assets
Beginning balance			9,796
Ending balance	14,074		14,074
Level 3 Inputs
Servicing Assets
Beginning balance			8,761
Ending balance	12,269		12,269
Level 3 Inputs | Credit Card Derivative | Derivative
Credit Card Derivative
Beginning balance, Assets	4,861		7
Change in fair value	2,976		6,839
Gains from settled transactions	1,779		2,355
Less: Net payments received	(1,779)		(1,364)
Ending balance, Assets	7,837		7,837
Level 3 Inputs | Prosper Funding LLC
Servicing Assets
Beginning balance			9,796
Ending balance	14,074		14,074
Level 3 Inputs | Servicing Assets
Servicing Assets
Beginning balance	10,323	$ 8,944	8,761	$ 9,242
Additions	4,211	1,895	9,888	5,674
Recognition of Servicing Assets upon deconsolidation of VIEs		215		215
Less: Changes in fair value	(2,265)	(2,353)	(6,380)	(6,430)
Ending balance	12,269	8,701	12,269	8,701
Level 3 Inputs | Servicing Assets | Prosper Funding LLC
Servicing Assets
Beginning balance	11,699	10,389	9,796	11,088
Additions	4,903	2,300	11,383	6,676
Less: Changes in fair value	(2,528)	(2,721)	(7,105)	(7,796)
Ending balance	14,074	9,968	14,074	9,968
Level 3 Inputs | Convertible Preferred Stock Warrant Liability
Liabilities
Beginning balance	173,455	162,436	250,941	112,319
Change in fair value	(11,374)	86,728	(88,860)	136,845
Ending balance	162,081	249,164	162,081	249,164
Level 3 Inputs | Loan Trailing Fee Liability
Liabilities
Beginning balance	2,574	2,145	2,161	2,233
Issuances	964	472	2,286	1,289
Cash Payment of Loan Trailing Fee	(475)	(521)	(1,485)	(1,587)
Change in fair value	(1)	87	100	248
Ending balance	3,062	2,183	3,062	2,183
Level 3 Inputs | Loan Trailing Fee Liability | Prosper Funding LLC
Liabilities
Beginning balance	2,574	2,145	2,161	2,233
Issuances	964	472	2,286	1,289
Cash Payment of Loan Trailing Fee	(475)	(521)	(1,485)	(1,587)
Change in fair value	(1)	87	100	248
Ending balance	$ 3,062	$ 2,183	$ 3,062	$ 2,183

FAIR VALUE OF ASSETS AND LIA_10

FAIR VALUE OF ASSETS AND LIABILITIES - Fair Value Assumptions for Borrower Loans, Loans Held for Sale and Notes (Details) $ in Thousands	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	$ 302,971	$ 267,626
Notes, at Fair Value	301,079	265,985
Level 3 Inputs
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	302,971	267,626
Notes, at Fair Value	301,079	265,985
Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	302,971	267,626
Notes, at Fair Value	301,079	265,985
Prosper Funding LLC | Level 3 Inputs
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	302,971	267,626
Notes, at Fair Value	301,079	265,985
Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes, at Fair Value	301,079	265,985
Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value		267,626
Notes, at Fair Value	301,079	265,985
Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	701,180	510,796
Borrower loans and loans held for sale | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower Loans, at Fair Value	302,971	267,626
Discount rate assumption | 100 basis point increase | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	298,094	263,326
Discount rate assumption | 100 basis point increase | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		265,104
Notes	298,094	263,326
Discount rate assumption | 100 basis point increase | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	694,239	505,732
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	299,972	265,104
Discount rate assumption | 200 basis point incease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	295,184	260,735
Discount rate assumption | 200 basis point incease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		262,499
Notes	295,184	260,735
Discount rate assumption | 200 basis point incease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	687,473	500,763
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	297,048	262,499
Discount rate assumption | 100 basis point decrease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	304,141	268,714
Discount rate assumption | 100 basis point decrease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		270,520
Notes	304,141	268,714
Discount rate assumption | 100 basis point decrease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	708,301	516,064
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	306,048	270,520
Discount rate assumption | 200 basis point decrease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	307,284	271,516
Discount rate assumption | 200 basis point decrease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		273,337
Notes	307,284	271,516
Discount rate assumption | 200 basis point decrease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	715,610	521,437
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	309,206	273,337
Default rate assumption | 10 percent increase | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	298,411	263,644
Default rate assumption | 10 percent increase | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		265,435
Notes	298,411	263,644
Default rate assumption | 10 percent increase | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	695,007	506,362
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	300,304	265,435
Default rate assumption | 20 percent increase | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	295,761	261,318
Default rate assumption | 20 percent increase | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		263,107
Notes	295,761	261,318
Default rate assumption | 20 percent increase | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	688,875	501,921
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	297,654	263,107
Default rate assumption | 10 percent decrease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	303,762	268,340
Default rate assumption | 10 percent decrease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		270,133
Notes	303,762	268,340
Default rate assumption | 10 percent decrease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	707,390	515,326
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	305,654	270,133
Default rate assumption | 20 percent decrease | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Notes	306,462	270,711
Default rate assumption | 20 percent decrease | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans		272,505
Notes	306,462	270,711
Default rate assumption | 20 percent decrease | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Borrower loans	713,637	519,851
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	$ 308,353	$ 272,505
Discount rate | Discount rate assumption | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions	0.0832	0.0576
Discount rate | Discount rate assumption | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions	0.0832	0.0576
Discount rate | Discount rate assumption | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions	0.0784	0.0564
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	0.0832	0.0576
Default rate | Default rate assumption | Notes
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions	0.1178	0.1070
Default rate | Default rate assumption | Notes | Prosper Funding LLC
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions	0.1178	0.1070
Default rate | Default rate assumption | Borrower loans and loans held for sale
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value assumptions	0.0999	0.1008
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	0.1178	0.1070

FAIR VALUE OF ASSETS AND LIA_11

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Prosper's and Prosper Funding's Estimated Fair Value of Servicing Assets and Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Servicing Assets And Liabilities Fair Value [Line Items]
Servicing Assets	$ 12,269	$ 8,761
Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Servicing Assets	14,074	9,796
Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Servicing Assets	12,269	8,761
Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Servicing Assets	14,074	9,796
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	11,480	8,203
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	13,168	9,171
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	13,059	9,320
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	14,980	10,421
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	11,973	8,568
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	13,734	9,580
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	12,572	8,957
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	14,421	10,015
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	12,095	8,646
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	13,874	9,667
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	12,445	8,878
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	$ 14,275	$ 9,926
Market servicing rate | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	0.649%	0.65%
Market servicing rate | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	0.649%	0.65%
Prepayment rate | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	20.85%	20.82%
Prepayment rate | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	20.85%	20.82%
Default rate | Servicing Assets
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	14.62%	12.54%
Default rate | Servicing Assets | Prosper Funding LLC
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	13.91%	12.24%

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
	Sep. 30, 2022 USD ($)
Credit Card Derivative
Servicing Assets And Liabilities Fair Value [Line Items]
Derivative asset	$ 7,837
Discount rate on Prosper Allocations | Credit Card Derivative
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	0.2750
Discount rate on Coastal Program Fee | Credit Card Derivative
Servicing Assets And Liabilities Fair Value [Line Items]
Valuation techniques	0.0984
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	0.1200
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	$ 7,701
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	$ 7,975
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	0.1580
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	$ 5,650
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	10,091
Discount rate | Credit Card Derivative | 100 Basis Point Increase
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	7,772
Discount rate | Credit Card Derivative | 200 Basis Point Increase
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	7,708
Discount rate | Credit Card Derivative | 100 Basis Point Decrease
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	7,903
Discount rate | Credit Card Derivative | 200 Basis Point Decrease
Servicing Assets And Liabilities Fair Value [Line Items]
Expected fair value with change in assumptions	$ 7,970

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, 2022
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, 2022		Mar. 21, 2022	Dec. 31, 2021		Sep. 30, 2021
Assets:
Cash and Cash Equivalents		$ 43,530			$ 67,700		$ 55,949
Restricted Cash		159,323	[1]		167,925	[1]	$ 156,901
Accounts Receivable		2,265			1,054
Total Assets		1,012,575			828,884
Liabilities:
Accounts Payable and Accrued Liabilities		41,016			25,790
Payable to Investors		137,020			152,794
Warehouse Lines	[1]	354,799			209,275
Paycheck Protection Program loan (Note 10)		0		$ 8,600	8,590
Total Liabilities		1,022,961			928,685
Carrying Amount
Assets:
Cash and Cash Equivalents		43,530			67,700
Accounts Receivable		2,265			1,054
Total Assets		205,118			236,679
Liabilities:
Accounts Payable and Accrued Liabilities		41,016			25,790
Payable to Investors		137,020			152,794
Warehouse Lines		354,799			209,275
Paycheck Protection Program loan (Note 10)					8,590
Total Liabilities		532,835			396,449
Carrying Amount | Cash and Cash Equivalents
Assets:
Restricted Cash		154,444			163,047
Carrying Amount | Certificates of Deposit
Assets:
Restricted Cash		4,879			4,878
Balance at Fair Value
Assets:
Cash and Cash Equivalents		43,530			67,700
Accounts Receivable		2,265			1,054
Total Assets		205,118			236,679
Liabilities:
Accounts Payable and Accrued Liabilities		41,016			25,790
Payable to Investors		137,020			152,794
Warehouse Lines		353,229			211,177
Paycheck Protection Program loan (Note 10)					8,556
Total Liabilities		531,265			398,317
Balance at Fair Value | Cash and Cash Equivalents
Assets:
Restricted Cash		154,444			163,047
Balance at Fair Value | Certificates of Deposit
Assets:
Restricted Cash		4,879			4,878
Level 1 Inputs
Assets:
Cash and Cash Equivalents		43,530			67,700
Accounts Receivable		0			0
Total Assets		197,974			230,747
Liabilities:
Accounts Payable and Accrued Liabilities		0			0
Payable to Investors		0			0
Warehouse Lines		0			0
Paycheck Protection Program loan (Note 10)					0
Total Liabilities		0			0
Level 1 Inputs | Cash and Cash Equivalents
Assets:
Restricted Cash		154,444			163,047
Level 1 Inputs | Certificates of Deposit
Assets:
Restricted Cash		0			0
Level 2 Inputs
Assets:
Cash and Cash Equivalents		0			0
Accounts Receivable		2,265			1,054
Total Assets		7,144			5,932
Liabilities:
Accounts Payable and Accrued Liabilities		41,016			25,790
Payable to Investors		137,020			152,794
Warehouse Lines		353,229			211,177
Paycheck Protection Program loan (Note 10)					8,556
Total Liabilities		531,265			398,317
Level 2 Inputs | Cash and Cash Equivalents
Assets:
Restricted Cash		0			0
Level 2 Inputs | Certificates of Deposit
Assets:
Restricted Cash		4,879			4,878
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
Warehouse Lines		0			0
Paycheck Protection Program loan (Note 10)					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. See Note 10, Debt, to our Notes to Condensed Consolidated Financial Statements for add itional information. September 30, 2022 December 31, 2021 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 7,313 $ 5,128 Loans Held for Sale, at Fair Value 398,209 243,170 Prepaid and Other Assets 4,241 2,846 Total assets of consolidated variable interest entities $ 409,763 $ 251,144 Liabilities of consolidated VIEs, included in total liabilities above: Warehouse Lines $ 354,799 $ 209,275 Total liabilities of consolidated variable interest entities $ 354,799 $ 209,275

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Goodwill And Other Intangible Assets [Line Items]
Goodwill	$ 36,368,000		$ 36,368,000
Goodwill impairment	0	$ 0
Intangible assets, net	226,000		$ 328,000
User base and customer relationships
Goodwill And Other Intangible Assets [Line Items]
Intangible assets, net	$ 226,000
Intangible assets amortized period	2 years 7 months 6 days
User base and customer relationships | Minimum
Goodwill And Other Intangible Assets [Line Items]
Intangible assets amortized period	3 years
User base and customer relationships | Maximum
Goodwill And Other Intangible Assets [Line Items]
Intangible assets amortized period	10 years

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS, NET - Summary of Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 8,170
Accumulated Amortization	(7,944)
Net Carrying Value	226	$ 328
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	(4,824)
Net Carrying Value	$ 226
Remaining Useful Life (In Years)	2 years 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, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (remainder thereof)	$ 34
2023	107
2024	85
Total	$ 226

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 21, 2022	Dec. 31, 2021
Other Liabilities [Abstract]
Operating lease liabilities	$ 17,429		$ 11,026
Deferred revenue	3,045		1,196
Loan trailing fee liability	3,062		2,161
Credit Card servicing obligation liability (Note 5)	2,381		0
Deferred income tax liability	621		560
Finance Lease, Liability	78		78
Paycheck Protection Program loan (Note 10)	0	$ 8,600	8,590
Other	350		289
Total Other Liabilities	$ 26,966		$ 23,900
Operating lease liability, location	Total Other Liabilities		Total Other Liabilities
Finance lease liability, location	Total Other Liabilities		Total Other Liabilities

DEBT (Details)

DEBT (Details)				1 Months Ended	9 Months Ended
		Mar. 04, 2021 USD ($)	Jun. 20, 2019	Apr. 30, 2020 USD ($)	Sep. 30, 2022 USD ($)	Mar. 21, 2022 USD ($)	Dec. 31, 2021 USD ($)	May 19, 2021 USD ($)	Mar. 28, 2019 USD ($)	Jun. 12, 2018 USD ($)	Jan. 19, 2018 USD ($)
Line of Credit Facility [Line Items]
Warehouse lines	[1]				$ 354,799,000		$ 209,275,000
Loans held for sale at fair value	[1]				398,209,000		243,170,000
Paycheck protection program loan					0	$ (8,600,000)	(8,590,000)
Interest Rate Swaption
Line of Credit Facility [Line Items]
Derivative asset					2,103,000		$ 66,000
Warehouse Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Minimum tangible net worth					25,000,000
Minimum net liquidity					$ 15,000,000
Maximum leverage ratio					5
PWIT | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity										$ 200,000,000	$ 100,000,000
Repayment period			24 months
Advance rate			87%
Commitment fee percent			0.50%
Warehouse lines					$ 172,600,000
Loans held for sale at fair value					199,300,000
Undrawn portion					27,400,000
Capitalized debt issuance cost					2,200,000			$ 300,000
PWIIT | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity									$ 300,000,000
Repayment period		24 months
Advance rate		90%
Warehouse lines					182,200,000
Loans held for sale at fair value					204,300,000
Undrawn portion					117,800,000
Capitalized debt issuance cost					$ 1,300,000
PWIIT Class A | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 230,000,000
Commitment fee percent		0.50%
PWIIT Class B | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 70,000,000
PWIIT Class B | Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Commitment fee percent		0.50%
PWIIT Class B | Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Commitment fee percent		1%
PPP Loan
Line of Credit Facility [Line Items]
Loan at time of issuance				$ 8,400,000
Stated interest rate				1%
Remaining contractual term (in years)				2 years
LIBOR | PWIT | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate			2.75%
LIBOR | PWIIT Class A | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate		2.05%
LIBOR | PWIIT Class A | Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Increase to basis spread		0.375%
LIBOR | PWIIT Class A | Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Increase to basis spread		0.375%
LIBOR | PWIIT Class B | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest rate		8.75%
LIBOR | PWIIT Class B | Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Increase to basis spread		0.375%
LIBOR | PWIIT Class B | Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Increase to basis spread		0.375%
[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. See Note 10, Debt, to our Notes to Condensed Consolidated Financial Statements for add itional information. September 30, 2022 December 31, 2021 Assets of consolidated VIEs, included in total assets above: Restricted Cash $ 7,313 $ 5,128 Loans Held for Sale, at Fair Value 398,209 243,170 Prepaid and Other Assets 4,241 2,846 Total assets of consolidated variable interest entities $ 409,763 $ 251,144 Liabilities of consolidated VIEs, included in total liabilities above: Warehouse Lines $ 354,799 $ 209,275 Total liabilities of consolidated variable interest entities $ 354,799 $ 209,275

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, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net Income (Loss)	$ 8,621	$ 42,665	$ 36,632	$ (88,061)	$ (5,805)	$ (44,889)	$ 87,918	$ (138,755)
Less: Net Income Allocated to Participating Securities	(5,772)			0			(59,054)	0
Net Income (Loss) Attributable to Common Stockholders	2,849			(88,061)			28,864	(138,755)
Net Income (Loss) Attributable to Common Stockholders	$ 2,849			$ (88,061)			$ 28,864	$ (138,755)
Denominator:
Weighted average shares used in computing basic net income (loss) per share	73,731,925			71,068,442			73,010,111	70,433,182
Effect of dilutive securities:
Stock options (in shares)	54,551,659			0			61,828,654	0
Warrants (in shares)	410,837			0			600,194
Convertible preferred stock warrants (in shares)	213,264,845			0			213,264,845	0
Weighted average shares used in computing diluted Net Income (Loss) per Share	341,959,266			71,068,442			348,703,804	70,433,182
Net Income (Loss) Per Share – Basic (in dollars per share)	$ 0.04			$ (1.24)			$ 0.40	$ (1.97)
Net Income (Loss) Per Share - Diluted (in dollars per share)	$ 0.01			$ (1.24)			$ 0.08	$ (1.97)

NET INCOME (LOSS) PER SHARE - C

NET INCOME (LOSS) PER SHARE - Common Stock Equivalents Excluded from Computation of Diluted Net Income (Loss) Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from diluted net (loss) income per common share computation (in shares)	175,417,691	443,312,331	175,073,562	445,556,675
Convertible preferred stock issued and outstanding, excluding shares held by consolidated VIE
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from diluted net (loss) income per common share computation (in shares)	158,365,655	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 common stock equivalents excluded from diluted net (loss) income per common share computation (in shares)	16,382,524	70,601,482	16,227,752	72,845,826
Warrants issued and outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from diluted net (loss) income per common share computation (in shares)	669,512	1,080,349	480,155	1,080,349
Series E-1 convertible preferred stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from diluted net (loss) income per common share computation (in shares)	0	35,544,141	0	35,544,141
Series F convertible preferred stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total common stock equivalents excluded from diluted net (loss) income per common share computation (in shares)	0	177,720,704	0	177,720,704

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	Feb. 27, 2017 $ / shares shares	Dec. 16, 2016	Feb. 16, 2016	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($) shares	Sep. 30, 2022 USD ($) time vote $ / shares shares	Sep. 30, 2021 USD ($) shares	Jun. 30, 2022 shares	Mar. 31, 2022 shares	Dec. 31, 2021 $ / shares shares	Jun. 30, 2021 shares	Mar. 31, 2021 shares	Dec. 31, 2020 shares	Sep. 20, 2017 $ / shares shares
Class of Stock [Line Items]
Common and preferred stock, shares authorized (in shares)															1,069,760,848
Common stock, authorized (in shares)					625,000,000		625,000,000				625,000,000				625,000,000
Common stock, par value (in dollars per share) | $ / shares					$ 0.01		$ 0.01				$ 0.01				$ 0.01
Preferred stock, shares authorized (in shares)					444,760,848		444,760,848				444,760,848				444,760,848
Preferred stock, par value (in dollars per share) | $ / shares															$ 0.01
Common stock, issued (in shares)					74,950,409		74,950,409				73,089,929
Common stock, outstanding (in shares)					74,014,474		74,014,474				72,153,994
Number of votes per share | vote							1
Common Stock
Class of Stock [Line Items]
Stock split conversion ratio				5
Common stock, outstanding (in shares)					79,191,709	76,498,953	79,191,709	76,498,953	78,776,776	77,671,096	77,331,229	76,071,065	75,941,068	74,316,607
Exercise of stock options (in shares)							1,860,480
Cash proceeds | $							$ 46,000
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
Warrant expiration period		10 years
Change in fair value | $					$ 8,900,000	$ (72,900,000)	$ 74,600,000	$ (115,500,000)
Exercise price (in dollars per share) | $ / shares		$ 0.01
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	$ (13,900,000)	$ 14,200,000	$ (21,300,000)
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

CONVERTIBLE PREFERRED STOCK, _4

CONVERTIBLE PREFERRED STOCK, CONVERTIBLE PREFERRED STOCK WARRANT LIABILITY AND COMMON STOCK - Summary of Shares Authorized, Issued, Outstanding, Par Value and Liquidation Preference of Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	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 - Schedule of Assumptions Used (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Volatility | Series E-1
Class of Stock [Line Items]
Fair value assumptions	0.740	0.630
Volatility | Series F
Class of Stock [Line Items]
Fair value assumptions	0.740	0.630
Risk-free interest rate | Series E-1
Class of Stock [Line Items]
Fair value assumptions	0.0420	0.0090
Risk-free interest rate | Series F
Class of Stock [Line Items]
Fair value assumptions	0.0420	0.0090
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)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021	Aug. 11, 2020 vote
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of stock option repricing programs authorized | vote					3
Plan repricing, unamortized cost	$ 11,000		$ 11,000
Plan repricing, unamortized cost, vesting period			1 year
Options outstanding, term			6 years 6 months 3 days
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) | shares	2,874,348		2,874,348
Weighted average grant date fair value (in dollars per share) | $ / shares	$ 1.14		$ 1.14
Unamortized expense related to unvested stock-based awards	$ 3,700,000		$ 3,700,000
Weighted average vesting period			3 years 1 month 6 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, 2022 $ / shares shares
Options Issued and Outstanding
Beginning Balance (in shares) | shares	72,186,151
Options issued (in shares) | shares	13,822,243
Options exercised (in shares) | shares	(1,860,480)
Options forfeited (in shares) | shares	(3,703,067)
Options expired (in shares) | shares	(5,825)
Ending balance (in shares) | shares	80,439,022
Options vested and expected to vest (in shares) | shares	72,283,669
Options vested and exercisable (in shares) | shares	53,632,329
Weighted Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 0.07
Options issued (in dollars per share) | $ / shares	0.66
Options exercised (in dollars per share) | $ / shares	0.02
Options forfeited (in dollars per share) | $ / shares	0.22
Options expired (in dollars per share) | $ / shares	0.02
Ending balance (in dollars per share) | $ / shares	0.16
Options vested and expected to vest (in dollars per share) | $ / shares	0.16
Options vested and exercisable (in dollars per share) | $ / shares	$ 0.04

STOCK-BASED COMPENSATION - Fair

STOCK-BASED COMPENSATION - Fair Value of Stock Option Awards (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Fair value of stock option awards [Abstract]
Volatility of common stock	68.09%	64.84%	67.08%	64.37%
Risk-free interest rate	2.87%	0.97%	2.61%	0.99%
Expected life (in years)	6 years	6 years	6 years	6 years
Dividend yield	0%	0%	0%	0%

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 496	$ 270	$ 1,295	$ 857
Origination and servicing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	36	30	98	92
Sales and marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	215	15	417	47
General and administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation	$ 245	$ 225	$ 780	$ 718

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Taxes [Line Items]
Income tax expense	$ 20,000	$ 21,000	$ 60,000	$ 63,000
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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	May 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Renewal term	5 years		5 years
Rental expense under operating lease arrangements	$ 1,200	$ 1,100	$ 3,500	$ 3,400
Sublease income	200	$ 100	600	$ 200
ROU operating lease assets	27,157		27,157
Operating lease liabilities	$ 17,429		$ 17,429			$ 11,026
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					$ 9,900
Minimum
Lessee, Lease, Description [Line Items]
Operating lease contract term	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease contract term	6 years		6 years

LEASES - Operating Lease Right-

LEASES - Operating Lease Right-of-Use Assets (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Gross Carrying Value	$ 27,157
Accumulated Amortization	12,133
Net Carrying Value	15,024
ROU Assets - Office buildings
Lessee, Lease, Description [Line Items]
Gross Carrying Value	26,257
Accumulated Amortization	11,518
Net Carrying Value	14,739
ROU Assets - Other
Lessee, Lease, Description [Line Items]
Gross Carrying Value	900
Accumulated Amortization	615
Net Carrying Value	$ 285

LEASES - Schedule of Lease Matu

LEASES - Schedule of Lease Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Schedule of Lease Maturity
Remainder of 2022	$ 1,435
2023	3,820
2024	4,391
2025	4,517
2026	4,432
Thereafter	4,723
Total future minimum lease payments	23,318
Less imputed interest	(5,889)
Present value of future minimum lease payments	$ 17,429	$ 11,026

LEASES - Other Information Rela

LEASES - Other Information Related to Leases (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Leases [Abstract]
Cash paid for operating leases year-to-date	$ 4,350
Weighted average remaining lease term (in years)	5 years 7 days
Weighted average discount rate	10.82%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
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, 2023	1,200,000
Minimum fee, 2024	1,200,000
Minimum fee, 2025	100,000
Minimum liquidity covenant	15,000,000
Purchase commitment of borrower loans	24,100,000
Maximum potential future payments	3,400,000,000
Accrued repurchase and indemnification obligation	300,000	$ 300,000
Prosper Funding LLC
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, 2023	1,200,000
Minimum fee, 2024	1,200,000
Minimum fee, 2025	100,000
Minimum liquidity covenant	15,000,000
Purchase commitment of borrower loans	24,100,000
Maximum potential future payments	3,400,000,000
Accrued repurchase and indemnification obligation	$ 300,000	$ 300,000

RELATED PARTIES - Additional In

RELATED PARTIES - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Minimum percentage of voting securities considered for related parties	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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	$ 9	$ 13	$ 28	$ 50
Interest Earned on Notes and Borrower Loans	2	3	7	6
Notes Balance	58		58		$ 56
Prosper Funding LLC
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	8	9	26	26
Interest Earned on Notes and Borrower Loans	2	2	5	5
Notes Balance	45		45		41
Executive officers and management
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	9	9	28	26
Interest Earned on Notes and Borrower Loans	2	2	6	5
Notes Balance	51		51		41
Executive officers and management | Prosper Funding LLC
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	8	9	26	26
Interest Earned on Notes and Borrower Loans	2	2	5	5
Notes Balance	45		45		41
Directors (excluding executive officers and management)
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	0	4	0	24
Interest Earned on Notes and Borrower Loans	0	1	1	1
Notes Balance	7		7		15
Directors (excluding executive officers and management) | Prosper Funding LLC
Related Party Transaction [Line Items]
Aggregate Amount of Notes Purchased	0	0	0	0
Interest Earned on Notes and Borrower Loans	0	$ 0	0	$ 0
Notes Balance	$ 0		$ 0		$ 0

SIGNIFICANT CONCENTRATIONS (Det

SIGNIFICANT CONCENTRATIONS (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Concentration Risk [Line Items]
Percentage of funds originating in channel			92%	88%
Individual Party One
Concentration Risk [Line Items]
Percentage of loan purchased	23.40%	24.70%	23.70%	27%
Individual Party Two
Concentration Risk [Line Items]
Percentage of loan purchased	12.70%		10.30%
Individual Party Three
Concentration Risk [Line Items]
Percentage of loan purchased	10.20%
Warehouse VIE
Concentration Risk [Line Items]
Percentage of loan purchased	13.50%	15.70%	12.10%	13.40%