Prosper, a Peer-to-Peer Lender, Raises $70 Million

As peer-to-peer lending — in which borrowers connect with lenders directly online — takes off, one of the biggest players in the field is taking advantage by raising more money.

Prosper plans to announce on Monday that it has raised $70 million in a new fundraising round, one led by the investment firm Francisco Partners. Two other venture capital firms, Institutional Venture Partners and Phenomen Partners, also participated.