Irish peer-to-peer lending platform Property Bridges has launched an auto-invest feature.
The P2P bridging and development lender, which launched in 2018 and has its technology provided by Katipult, launched the auto-invest feature to allow its lenders to set their own investment parameters.
When the loan is added, the platform’s algorithm then places their investment automatically.
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“The Property Bridges team are delighted with the successful launch of our new auto-invest feature this morning,” David Jelly (pictured), founder of Property Bridges, said in a LinkedIn post.
“This way of raising finance almost instantaneously, streamlines the process and reduces investment drag which allows us to offer finance at more competitive rates. This efficiency is a win-win for both borrowers and lenders.”
In the first quarter of 2020, Property Bridges launched a pension product and commercial loan product and according to its website, diverse products and opportunities are coming soon.
In August last year, Jelly told Peer2Peer Finance News that in Ireland like in the UK, there is not enough supply of housebuilding to keep up with demand, however he added there is more of a gap in the market for development finance and a lot less competition across both the mainstream lenders and P2P in Ireland.
By 2020, Property Bridges’ online investors had funded €10m (£8.67m) in bridging and development finance across Ireland, helping to fund the construction of over 100 family homes.
Read more: P2P property lending: The Phoenix rises