BillGuard, the crowdsourced security app for personal finance, has been acquired by peer-to-peer lending giant Prosper Marketplace. The value of the deal has not been revealed, but Israeli media says the transaction amounts to around $40 million in cash, plus stock.
Prosper.com Marketplace has handled more than $4 billion in loans since 2006, and reaised $350 million to date. The San Francisco-based company valued at $2 billion.
BillGuard was founded in 2010. The startup, which has offices in Tel Aviv and New York, 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.
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Much of BillGuard’s data comes from its community of 1.3 million registered users, who flag any “bad” charges they receive. BillGuard claims more than $70 million in unauthorized charges have been flagged over the years and, back in June, added identify theft protection to its core offering.
Prosper said that the acquisition will enable it to offer its current customers more tools “to make smarter financial decisions.”
BillGuard has a strong engineering and product team in Tel Aviv, the founders Yaron Samid and Raphael Ouzan homeland .
“Israel is home to phenomenal tech talent on par with the best of Silicon Valley, and we see great opportunity to bolster our ranks by broadening BillGuard’s proven team and product, ” said Itzik Cohen, chief business officer at Prosper to Venturbeat.
This is Prosper’s second acquisition, having snapped up patient-financing platform American HealthCare Lending for $21 million back in January.