LONDON, Feb. 10, 2015—StreetShares announced today at FinovateEurope 2015 the debut of the StreetShares Auto-invest feature which will enable retail investors to easily program their small business loan investments to make automatic bids according to their loan requirements and risk preferences.
StreetShares CEO Mark L. Rockefeller and COO Mickey Konson gave the opening product demonstration at FinovoteEurope 2015 conference in London, where they debuted the StreetShares Auto-invest feature to an audience of financial and banking executives, venture capitalists and financial technology entrepreneurs. The feature will be available on the StreetShares marketplace in Spring 2015.
“Finovate is a leader in introducing emerging financial service companies, and the U.K. is the birthplace of peer-to-peer lending,” StreetShares CEO Mark Rockefeller said. “We couldn’t be more excited to showcase this new feature here in London. We are honored to have had the chance to participate and share the next generation of peer-to-peer lending.”
Since StreetShares launched in June 2014, investor members have made investments on a loan by loan basis, but with the StreetShares Auto-invest feature, they will be able to set their preferences, turn on auto-invest and let the tool do the work for them. Investors will be able to select their risk profile, affinity group preferences, bid amount and rate. Autobids will be made on any loan that fits the chosen criteria.
Investments on StreetShares are made through a transparent auction-based pricing mechanism, in which retail investors and institutional investors compete side by side to fund loan requests. StreetShares transparently co-invests in every loan as well.
“We believe the future of marketplace lending will be social—not sterile, anonymized lending,” Rockefeller said. “We put the ‘peer’ back into peer to peer lending by using affinity groups to forge greater bonds between lenders and buyers.”
To learn more about StreetShares, visit www.StreetShares.com.
FinovateEurope 2015 is a two-day showcase of the latest in financial and banking technology innovations from leading established companies and promising startups. The event runs from February 10 to February 11, 2015 at Old Billingsgate Market Hall in London.
StreetShares is an affinity-based, social lender that connects small business owners with retail and institutional investors by shared affinities. StreetShares blends peer-to-peer lending with traditional banking. Business owners personally pitch their loan requests, and StreetShares investor members compete to fund their loans. StreetShares underwrites, originates, and services, term, unsecured loans up to $50,000.
© 2015, StreetShares Inc. All rights reserved.