SEATTLE--(BUSINESS WIRE)--LendingRobot, the automated investment service for marketplace lending, announced today the very first mobile application built to track portfolio performance in peer lending investments across Lending Club, Prosper and Funding Circle, three of the world’s largest peer lending marketplaces. The intuitive user interface lets clients track the health of a portfolio, monitor loan repayments, and stay updated on a portfolio's overall performance; all free, with no requirement to sign up for LendingRobot’s algorithmic portfolio management service.
Currently, no mobile application in any app store provides broad portfolio-tracking services for peer lending. Further, none of the leading p2p marketplaces, Lending Club, Prosper, or Funding Circle, offer official mobile applications of their own. This leaves a gaping void in a $6.6 Billion industry – a stark contrast to the dramatic shift towards mobile seen in nearly every other tool designed to let investors track and tweak their finances and investments. LendingRobot Dashboard provides an easy to understand score for how investments are doing across any or all of the supported marketplaces.
“Frankly, it is baffling that no one has created a ‘Mint’ for this industry,” said Emmanuel Marot, founder and CEO of LendingRobot. “The fact that more than 20% of LendingRobot’s traffic is via mobile is, in itself, a great reason to have a mobile app. But the fact that not a single one of the major peer lending platforms offers a mobile app leaves a lot of room for LendingRobot to not only meet the needs of our customers, but to also become a daily part of any investors monitoring of their own investments.”
LendingRobot is a robo-advisor for peer lending, and automatically invests customers’ money across hundreds or thousands of different loans, reinvesting returns as they come in, and constantly readjusting the portfolio based on the loans available. The LendingRobot Dashboard is free and available to both LendingRobot clients and non-clients, and available across both Android and iOS.
To use the app, an investor only needs to download the app from the appropriate app store and create a free account at LendingRobot. After linking their Funding Circle, Lending Club or Prosper account(s), LendingRobot will continuously synchronize their data. If they choose, they can also create a LendingRobot investment account to algorithmically manage and monitor investments across hundreds or thousands of loans at once.
Peer lending offers optimal performance when investors deploy their cash over hundreds or thousands of different loans. This diversification strategy reduces risk and helps to achieve returns that can surpass traditional fixed income investments. LendingRobot offers investors automated investing and transparent analytics. The service is free up to $5,000 in managed assets and only 0.45% per year above that amount.
LendingRobot Dashboard is available in the iOS App Store here: https://itunes.apple.com/us/app/lendingrobot-dashboard/id1086703758?ls=1&mt=8 and the Google Play store here: https://play.google.com/store/apps/details?id=com.lendingrobot.mobile
LendingRobot is a fully automated investment service for peer lending platforms including Lending Club and Prosper. After signing up for a LendingRobot account, investors select their risk tolerance and enable LendingRobot to instantly make investments on their behalf. Based in Seattle, Washington, LendingRobot has raised $3 million in Series A funding led by Runa Capital.