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> Prosper.com and similar lending platforms do not require a lot of capital but users are required to be accredited investors. Last I checked to be an accredi
by TacticalCoder 5y ago
> Prosper.com and similar lending platforms do not require a lot of capital but users are required to be accredited investors.
Last I checked to be an accredited investor, in the EU at least, you had to have 1 million EUR available for investments. So an organism (like a bank), where you have that amount, will certify that you have it and then you can get labelled "accredited investor".
As a sidenote I don't see it as proving you're savvy or anything: it's more like a club where they don't want "plebs" to pollute their members.
The whole concept stinks.
- thwayunion 5y agoIn the US $200K income suffices. Also, if prosper.com is the "club", then it's a pretty shit club. VISA provides exposure to the high yield consumer credit market and had returns that were modestly higher than prosper over the same time frame. By which I mean ~100% appreciation over 3 years vs. 5.7% per annum. And the risk profile of the equity play might even be lower; we don't know, since the distribution of defaults is not published by prosper.