The P2P lending platform will allow investors to enable an automated investing option that allocates their available cash to eligible loan parts.

This feature is available to new and existing investors on the platform and can be toggled on and off through the account dashboard to switch between the manual select (default setting) and the new automated option.

The facility can be used in Proplend’s classic account and Innovative Finance Isa (IFIsa) and will split funds between at least five loans, subject to the platform’s current £1,000 minimum investment and eligible loan availability.

Investors funding their accounts with less than £5,000 will still be able to use the facility, with each £1,000 available being allocated to a different loan.

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Brian Bartaby, CEO and founder of Proplend, said that it was delighted to bring the auto-lend facility to the platform to give its lenders more investment choice.

“We already offer a range of account types and tranche investments, so it’s a natural next step to give our current and prospective lenders the option of more passive, automated investing.

“It’s entirely up to them.”

Brian added that its token-based queuing system meant that more lenders would get a bite of the cherry.

“Available cash in, auto-lend enabled accounts will be allocated in turn, £1,000 per account at a time – so larger accounts won’t swallow up large chunks of loans before all lenders have been able to invest.

“It should result in more lenders, invested in more loans, more quickly.”