SoLo Funds

SoLo Funds, Inc.Founded in 2015 in Los Angeles, US, SoLo Funds, Inc. operates a peer-to-peer lending platform that connects borrowers and lenders directly.SoLo Funds, Inc. operates a peer-to-peer lending platform that facilitates financial transactions between its members, enabling them to lend to and borrow from one another. The core product offering is the SoLo Wallet, which simplifies the lending and borrowing process while providing members with improved data and transaction controls. Borrowers can set their own terms for loans, and the platform emphasizes a supportive community ethos, encouraging members to help each other in times of need. Additional services include a debit card with a global ATM network, life insurance, and credit-building features designed to enhance financial autonomy.SoLo Funds generates revenue through its peer-to-peer lending model, where members lend money to fellow users and can optionally receive tips as a sign of appreciation. The platform does not charge rollover fees or compound interest, distinguishing itself from conventional lending institutions. Borrowers submit loan requests, which are verified and proposed by lenders, fostering a community-driven interaction.In April 2021, SoLo Funds, Inc. Future initiatives include the release of new products designed to enhance user experience and accessibility, as well as expansion into new markets across the United States. Specific timelines for these developments are yet to be disclosed.

1. Series A

   Feb 10, 2021

   Amount

   $10M

   Investors

   Locked

2. Seed

   Apr 2, 2018

   Amount

   $1.2M

   Investors

   Locked