Newcomer/veteran team aims to improve Lending Club’s secondary market liquidity with patent-pending technology
Liquid P2P and Interest Radar are pleased to announce that they have entered into a strategic partnership. The two third-party investing services for online peer-lending giant Lending Club will combine strengths under a single platform to deliver a more comprehensive automated tool with a patent-pending liquidity solution.
The collaboration brings together Liquid P2P’s innovative technology with Interest Radar’s market presence and long-trusted expertise as the first platform to automate investing for Lending Club more than six years ago.
Liquid P2P recently launched in September 2018 to offer users an automated investing option it describes as “simple, smart, and liquid.” The newcomer aims to boost returns and accelerate liquidity with its machine-learning algorithms and “Liquid Match” investing model. With a strong emphasis on secondary market trading, the patent-pending model automates note-trading between users by matching active buyers and sellers in a seamless way that benefits both sides of the transaction.
As part of the agreement, Interest Radar will immediately begin migrating its active users to the Liquid P2P platform until it ceases operation of its site a year from now. Its CEO and founder, Ricardo Basto, will work closely with the Liquid P2P team as a Strategic Adviser during and after the transition.
“Liquidity remains the fundamental limitation of P2P lending, and improving it is the key to the future success of our industry,” said Basto. “What Liquid P2P brings to the table is a game-changer. Their liquidity model is the first solution that truly works for the retail investor, and it is exactly what Interest Radar users have been looking for.”
David Fluker, Liquid P2P’s founder and CEO, has been investing in peer-to-peer lending since its inception over a decade ago and was an Interest Radar user since the platform’s earliest days.
“Partnering with the established pioneer of our industry is the perfect strategic fit for us. After a successful launch, we are now focused on creating a superior customer experience and looking to expand our reach,” explained Fluker.
“As our user base grows, we can execute strategic buyer-to-seller matching on a larger scale and, in turn, begin to drive-up the viability of the secondary market,” added Fluker. “We look forward to working with Ricardo and welcoming Interest Radar users to our platform,” he added.
- Effective immediately, Interest Radar will redirect all new user sign-ups and all contracts due for renewal to Liquid P2P’s platform.
- Liquid P2P will honor the current pricing structure for the remainder of all active IR contracts, plus offer migrated users an additional one-year renewal at that same rate. (Liquidation fees are in addition to the subscription service fees under contract and will be billed separately when applicable.)
- Ricardo Basto, founder and CEO of Interest Radar, will join the Liquid P2P team in the role of Strategic Adviser during and after the transition.
- The Interest Radar site will continue to operate at full capacity for a full twelve months following the effective date of the partnership agreement (officially February 1, 2019).
- Over the next twelve months, Interest Radar and Liquid P2P will work together to communicate with active users about migration opportunities, service offerings and related costs, and to answer any questions.
ABOUT LIQUID P2P
Liquid P2P, LLC was founded in November 2016 by lifelong entrepreneur and avid P2P investor David Fluker. Located at www.liquidp2p.com, it operates as a third-party software service offering automated loan selection, diversification, reinvesting, and liquidation for a subscription-based fee to Lending Club account holders. Liquid P2P is not owned by, endorsed by, or affiliated with Lending Club and does not offer financial planning or investment advice.
ABOUT INTEREST RADAR
Interest Radar, LLC was founded by Ricardo Basto in 2013 as the first third-party tool to offer automated investing through Lending Club’s API. The subscription-based service, located at www.interestradar.com, gives users access to proprietary credit modeling, returns modeling, high-speed order execution, automated secondary market trading, and portfolio metrics. Interest Radar is not affiliated with Lending Club and its services are not intended to provide investment, legal, tax, or financial advice of any kind.
erin @ liquidp2p.com