Runa Capital Announces LendingRobot Investment
Peer Lending automation company LendingRobot attracts $3M in venture funding
LendingRobot aims to bring simplicity, flexibility and liquidity to online lending
January 20, 2015, Seattle, WA - LendingRobot, an automated investment service for online lending, announced today that it has raised approximately $3 million in a Series A round led by Runa Capital. LendingRobot will use this funding to improve its service and to accelerate growth.
Currently LendingRobot serves more than 1,000 clients totaling around $15 million in assets. LendingRobot uses high-speed automation software and machine-learning algorithms to help investors select and invest in loans less than one second after they become available. LendingRobot supports more than 40 different filtering criteria for Lending Club and Prosper Marketplace, two of the leading online lending platforms in the U.S..
LendingRobot initially started out in 2012 of the need of its two founders, Emmanuel Marot and Gilad Golan, to automate their own personal investments. Loans selection requires sophisticated credit scoring and investing is both time-consuming and competitive. The lack of liquidity also makes it hard for investors to exit the market and prevents short term investing. Marot and Golan recognized that their technology could help overcome barriers and decided to deliver a solution helping individual investors to compete with hedge funds.
With this funding round, LendingRobot will further help individual investors by improving its offering on three axis. First, it will make it even easier for them to access online lending markets. Second, LendingRobot aims to increase the performance of its artificial intelligence algorithms used to select investments. Third, it will bring a unique solution to improve liquidity in online lending.
The market is booming, and keeps doubling in volume every nine months. Leading U.S. platforms, such as LendingClub (NYCE: LC) or Prosper already issue more than $500 million of loans every month.
"LendingRobot is a perfect example of the future of finance: fully automated, sophisticated, and affordable. Many traditional institutions will be made obsolete by Internet-based services." said Emmanuel Marot, CEO of LendingRobot. "We already help many individuals to invest in online lending, but now LendingRobot will go much further, we plan to bring an unprecedented level of simplicity, flexibility and liquidity to online lending."
“LendingRobot is a solid technology able to reshape the lending landscape”, says Peter Bauert, partner at Runa Capital, “With LendingRobot individual investors can significantly improve investment experience and we are happy to support LendingRobot’s efforts to democratize finance.”
Runa Capital partners Peter Bauert and Andre Bliznyuk will join the LendingRobot board of directors to bring both their extensive knowledge of peer lending, and their experience in financial and operational management.
LendingRobot is a cloud-based financial service and SEC Registered Investment Advisor offering automated investment management for online lending. Based in Seattle, LendingRobot is available to any investor, without setup fees, exit fees or monthly minimum costs. The first $10,000 is even managed for free. Sign up at www.lendingrobot.com and follow LendingRobot on Twitter @LendingRobot.