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30 Days of Auto-Invest: These Are the Results
Written by Arno Hoogenhuizen on 23 May 2024
On April 17, the first automatic investment with Auto-Invest on Lendahand became a fact. Preparations for that moment took around two years. We had to apply for an additional license from the AFM, and the functionality's development and thorough testing also took time.
The launch of Auto-Invest was quite an exciting moment for our team. Would it catch on? Do people understand how it works? Does it meet the needs? At the time of writing, we are just over a month in. A good time for its first assessment.
How many people have activated Auto-Invest?
After one month, 403 investors have activated Auto-Invest. Almost no one who activates Auto-Invest turns it off again. This is a good sign for us because it means that most people are satisfied with how Auto-Invest functions.
In the past week, 33% of the investments were made by Auto-Invest. The amounts of these investments are generally lower than manual investments. This makes sense since Auto-Invest always tries to spread the available balance as much as possible. In this way, you also spread your risk.
Is Auto-Invest working properly?
Thanks to your extensive feedback through the Auto-Invest feedback form and in our mailbox, we have gathered and studied a lot of information.
Fortunately, most of the feedback is positive. No investors have reported that they do not understand what Auto-Invest does or how to set it up. Of course, we are very pleased with this. The feedback we receive can be divided into two categories: (1) small technical issues and (2) requests for additional functionality.
What problems have you discovered?
In general, Auto-Invest works properly. In a few very specific cases, something went wrong. Here’s a summary:
- If you have not set a minimum credit score, Auto-Invest does not work when a new project is added to the website (this issue has now been resolved).
- In a few very specific cases, Auto-Invest did not function after a repayment was received (this issue will be resolved in the week of May 20).
- In a few very specific cases, Auto-Invest invested lower than the minimum amount specified by the user (this issue will also be resolved in the week of May 20).
What additional functionality are you missing the most?
We continue to finetune Auto-Invest. For example, by developing additional functionality that crowd investors indicated to be missing. So far, these have been the most requested:
- The ability for an investor to set a maximum amount per month. Currently, you can set a maximum amount per borrower, but not per month. With an extra set maximum, Auto-Invest will never invest more in the same month. If more money is available, it will remain in the investor's wallet.
- The ability to exclude certain countries. Auto-Invest will then never invest in crowdfunding projects in those countries.
We expect to add both requests in the coming months in the above order.
Do you have any additional wishes or other feedback about Auto-Invest? Please let us know through this form.
Ready for Auto-Invest?
Set your project preferences and try it out. You can turn the functionality on and off as you wish.
