PeerStreet, a Los Angeles-based firm that provides a platform for investing in real estate backed loans, has launched technology to enable accredited investors to earn more interest on available cash, the firm announced today.

PeerStreet Pocket is an investment product that was created to provide an alternative to low-yielding banking rates, the firm said. PeerStreet Pocket is more liquid than other PeerStreet investment products and not directly tied to any given loan. It offers high-yielding interest and monthly liquidity with no minimum balances or fees, PeerStreet said.

“PeerStreet Pocket speaks directly to the needs of our investors who would like to make sure every dollar they have on the PeerStreet platform is working for them,” Brett Crosby, chief customer officer and co-founder of PeerStreet, said in a statement.

Money that is invested in Pocket may be used to warehouse loans before they are sold to investors on the PeerStreet marketplace. “Historically, traditional banks and financial institutions have been the source of warehouse capital. Now, through Pocket, accredited investors are able to fulfill this function, further leveling the playing field between Wall Street and Main Street,” PeerStreet said.

PeerStreet focuses on innovation and bringing new products to market. “Pocket is a direct response to our customers' request for a liquid, interest yielding alternative to holding cash. This is the next step in our evolution to providing a holistic investment experience on our platform,” Jeremy Guttenplan, vice president of product at PeerStreet, said in a statement.

PeerStreet Pocket accounts are available to accredited PeerStreet investors with a $1,000 initial deposit. Investors are able to withdraw funds from this account once a month, which can then be used to invest in PeerStreet’s individual loans or fund offering.