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SoLo Funds operates a peer-to-peer lending platform that matches borrowers with lenders. The company announced 1 million registered users as of 2023, making it reportedly the largest black-owned financial technology company in the United States.

The company was founded in 2018 and is based in Los Angeles.

History
SoLo Funds was founded in 2018 in New York City by Travis Holoway and Rodney Williams. The idea for the company came when the founders wanted to develop a peer-to-peer lending marketplace for small dollar amounts as an alternative to banks and high interest credit cards. SoLo's loans are technically interest free, but borrowers can tip their lenders or make a donation to the company. In 2023, the company reported borrowers paid an equivalent annual interest rate of 13.4%.

The initial version of the company ran out of money and shut down at the end of 2019. The founders relaunched the company in April 2020 with different features, including protection for lenders.

In February 2021, the company raised $10 million. In 2023, the company announced an investment from investors including tennis player Serena Williams' Serena Ventures.