Lime Financial acquires LendingRobot
US-based automated peer-to-peer lending service LendingRobot has been acquired by trading platform Lime Financial.
While details of the transaction have not yet been released, it is understood that Lime Financial is now the majority owner of the company, according to an email seen by Crowdfund Insider.
LendingRobot was previously acquired by NSR Invest, which runs the marketplace lending news site Lend Academy and LendIt events.
LendingRobot provides portfolio construction, management, analytics, and reporting tools for financial advisors, institutions and individuals.
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Lime Financial is reported to be combining LendingRobot with its existing financial products and offerings. These are expected to become easier to access as an existing LendingRobot client.
LendingRobot started life as a P2P lending platform but has gone on to expand its portfolio to offer access to private securities and other financial products.
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In 2017, it launched a hedge fund to invest in loans from different P2P platforms, using algorithms to automatically diversify and buy and sell based on a client’s risk attitude.
“Alternative lending proved to return excellent performance and with new origination platforms growing quickly comes the opportunity to diversify further,” Emmanuel Marot, then-chief executive of LendingRobot told Reuters.
“But fragmentation makes investing even more complex for individual investors.”