Covington Advises Prosper Marketplace on BillGuard Acquisition

WASHINGTON, DC, October 8, 2015 — Covington advised Prosper Marketplace, a leading online marketplace that connects borrowers and investors, in its acquisition of BillGuard, a personal finance analytics company. The financial terms of the deal were not announced.

According to the company’s press release, the acquisition will enable Prosper Marketplace to offer borrowers and investors a full suite of tools to help them make smarter financial decisions. In addition, Prosper Marketplace will gain access to BillGuard’s engineering and product talent in Israel.

The Covington team was led by Michael Reed, Brad Chernin and Ingrid Rechtin. The team included Michael Chen and Kate Scherschel with assistance from Andrew Smith (financial regulatory), Evan Cox and Winslow Taub (licensing and intellectual property), Lindsey Tonsager and Morgan Kennedy (privacy), Marie Lavalleye and Heng Gong (trademark), Robert Heller (tax), David Addis (export controls), and Keir Gumbs and Reid Hooper (securities).