Prosper: Invest
- 52 of 100 · reviews
- 4.6of 5 · store
- 3,204ratings on the App Store
- 85reviews read
An editorial reading of the saved reviews
Mobile access to a peer-lending platform where you invest in other people's loans. Experienced users like the auto-invest and returns, but the outcome depends heavily on how you manage risk: defaults and write-offs really eat into profit. The app itself is clearly thinner than the website.
What people use it for
Patient investors ready to lend long-term into other people's loans for diversification and unafraid of defaults, as long as it is not their last dollar.
What reviews praise
- Auto-invest makes it nearly hands-off, and returns are pleasant for experienced investors.
- The home-screen widget is handy, and the concept adds diversification beyond stocks and real estate.
What reviews complain about
- The app lacks the website's features: filters, a clear income picture, a list of loans.
- Defaults and write-offs can drag returns down to 1-2%, and funds sometimes hang in pending.
- You cannot change your bank, and setting an investment amount is clumsy.
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