Lending Robot's investment platform allows for automated loan selection and investment into the two leading P2P platforms, Lending Club and Prosper. The company looks to harness machine-learning technology to increase investment efficiency and improve returns for individual p2p lenders.
The successful IPO of Lending Club is testament to the growth of P2P online lending, a market that is said to be doubling every year as borrowers seek an alternative to the banks and other traditional lenders, and in turn investors look for a better return on their money. Not only does this mean that VC interest in the sector shows now signs of slowing, but we’re beginning to see startups crop up who offer add-on services as part of the wider P2P lending ecosystem. One such company is LendingRobot, an automated investment service for online lending on the two leading P2P platforms, Lending Club and Prosper. The Seattle, U.S.-based startup has just raised approximately $3 million in a Series A round led by European VC Runa Capital, money it’ll use to further develop its product and to ‘accelerate’ growth.