Former Prosper Chief Operating Officer and Chief Risk Officer Josh Tonderys joins consumer lending platform Marlette.
Unsecured consumer lending platform Marlette Funding today announced the appointment of Josh Tonderys as President. According to the company, Josh will be a crucial addition to the team, bringing marketing, risk management and underwriting skills to the platform. Mr. Tonderys has more than 16 years of experience in the financial services sector, having served as Chief Risk Officer at Prosper Marketplace from 2012 to 2015 and as Chief Operating Officer subsequently.
Founded in 2013, Marlette Funding is a personal loan marketplace lending platform that offers unsecured loans. The company is known for its “Best Egg” product, an online instalment loan product with maturities ranging from 36 to 60 months. Marlette is currently working with banks, financial institutions and other strategic partners in order to make its platform available to deliver co-branded, white label and other innovative loan products.
Jeffrey Meiler, CEO and founder of Marlette Funding, commented:
“We are laser focused on being the long-term winner in this space and building a sustainable business that will prevail regardless of the economic cycle. Josh is a proven innovator who has played a pivotal role in the development of our industry. We believe his leadership and experience coupled with our flexible platform and operating model strengthens our leadership position.”
At Prosper, Josh oversaw all aspects of risk management, including credit modelling and loan servicing. He was also responsible for helping to manage the day-to-day operations of the business, such as overseeing the corporate development team and the customer experience for both borrowers and investors. He left Prosper earlier this month as part of a round of cutbacks that were said to have affected 171 jobs.
In addition to his FinTech expertise, Josh will also bring experience in the traditional financial services industry. Prior to Prosper Marketplace, Josh worked at Barclaycard US, where he led the open market credit card business - Barclaycard’s largest portfolio - with 1.2 million customers and assets of over $2.5 billion.
“I am passionate about what marketplace lending has done for consumers and I believe that Marlette is uniquely positioned for success. The team has strong roots in financial services and built an agile technology infrastructure to achieve great success for everyone in its partner ecosystem. I am thrilled to join the company at such a pivotal time and can only imagine what milestones we will report in the next 12 – 18 months.”