Peer lending network Prosper is expanding its operations into Asian markets including Japan, reports TechCrunch.
Prosper operates like other lending pools, with people contributing to a fund that provides people with small loans, in Prosper's case no more than $25,000.
The average is actually just $5,000. Prosper earns revenue by taking a small percentage - one percent - of the loan amount as a fee.
SBI Holdings, which is based in Tokyo, will be helping Prosper follow local regulatory guidelines.
