I'm glad to announce that our new autobidder is now live! It allows you to specify different bid sizes and interest rates for different debtor credit groups. You can now set different conditions for euro and pound portfolios. To read the details about how the new autobidder works, please head over to our website (visit app.investly.co/#/autobidder while logged in). If something is unclear on the page, please let me know so we can improve the communication. Thank you!
The starting rate for that auction was 17%. We allow the auction rate to drop a maximum of 6 percentage points. If enough bids are made, the rate for that auction should have dropped to 11%, which it did. Your minimum rate was set at 9%, in which case the autobidder will try to make a bid on your behalf at 11% (the minimum for that auction). It cannot, however, make a bid at 9% if the minimum rate set for that auction was 11%.
It was a relatively small invoice (funding target € 2375) and a number of other investors' autobidders competed to make a bid as well. With larger invoices, most investors fit it, but with smaller invoices it is just an inescapable fact that not all bids can fit. The bids are listed according to the rate and the time of the bid. In case of the autobidder, all bids are made at the same time, with only rates differing. To level the playing field, we have set the autobidder to make bids on a rotating basis - ie. if your autobidder did not place a competing bid this time, you will be bumped up the queue for the auctions that follow, thus increasing your chances of making a competing bid in the future.
A new feature is available - you can now set your maximum risk per buyer. Our developers pushed this feature live just before Christmas. You can set a separate limit for buyers in each credit group.
Buyer limit – the maximum exposure of your portfolio to the same buyer
Credit risk per buyer limits your exposure to buyers. For example, if your bid size is 200 euros per invoice and your credit risk per buyer is 400 euros and your portfolio is empty, the autobidder can make a maximum of two 200 euro bids for an invoice issued to one buyer. No further bids will be placed until the invoice is paid back. Once the invoice is paid back and your exposure to the buyer falls below your maximum limit, new bids can be made until your limit is reached. This setting will not prevent you from making additional bids manually. However, bids placed manually will prevent the autobidder from taking on additional risk against the same buyer.
If you have limited your risk per buyer but would like to participate in selected companies’ invoices, you can do so by placing bids manually. Although most invoices are sold automatically, for larger invoices we send out e-mail notifications. To make sure you receive them, please make sure you are subscribed to our e-mails (if you’re not sure, contact us).