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SoLo Funds
SoLo Funds is the largest community peer-to-peer lending platform in the United States, founded in 2018. The company aims to provide equitable access to small-dollar loans for underserved and working-class communities. Operating a community-driven financial model, SoLo allows individuals to lend to and borrow from each other directly, bypassing traditional financial institutions. Headquartered in Los Angeles, SoLo has grown significantly, reporting over 1 million registered users and facilitating more than $275 million in transactions. The platform offers loans ranging from $50 to $625, with no set interest rates or mandatory fees. Instead, borrowers can provide optional tips to lenders. SoLo also features a unique "SoLo Score" to evaluate borrowers based on cash flow and reliability, making it accessible to those with limited credit history. Additional offerings include a digital wallet, an AI-powered financial co-pilot, and a debit card for easy fund access. SoLo operates as a Certified Benefit Corporation, focusing on social and environmental impact alongside profit.
Funding
Every round, secondary, debt facility or acquisition involving SoLo Funds that Lounge tracks, newest first.
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