Peer-to-peer lender Prosper Marketplace in San Francisco is buying BillGuard, an Israel-based personal finance app provider, said a BillGuard founder on the company’s blog Thursday. The terms of the deal were not disclosed.

“This is the culmination of BillGuard’s founding mission to empower consumers to control, protect, and do more with their money,” co-founder Yaron Samid wrote. “BillGuard, the product and team, will stay exactly the same, except now we’re going to grow much, much faster. This is just another amazing chapter in our history, one that will enable us to bring you the great features we’ve dreamt of, and that you’ve asked for, faster.”

Prosper’s chief executive Aaron Vermut told VentureBeat that the deal would be “a transformative acquisition for Prosper Marketplace and for the marketplace lending industry.”

“Until now, nobody has brought together marketplace lending and personal finance management to deliver an offering that truly empowers, protects and educates consumers,” Vermut said.

VentureBeat said that it had learned that the transaction amounts to around $30 million in cash, plus an undisclosed stock component.

Prosper Marketplace was one of the pioneers in peer-to-peer online lending and has funded more than $4 billion in loans. Last April, it raised $165 million in new financing.

BillGuard “offers a consumer-focused app that lets anyone in the U.S. monitor their bank card transactions and receive alerts for hidden fees, billing errors, and scams,” says VentureBeat.

, , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *