Solamente Financing is an alternative to payday loan with large arrangements

Solamente Financing is an alternative to payday loan with large arrangements

Travis Holoway, Chief executive officer and you can co-maker from Solo Finance, states their startup isn’t only an instant method of getting an effective brief, short-identity loan. It’s the beginning of the some thing large.

The business, and therefore raised $ten million within the a sequence A financing bullet last week, even offers an application in which profiles can provide currency to each other. Individuals normally bring the loan providers a little “tip” after they pay back the bucks, and as a result build a beneficial “SoLo score” that helps him or her just take away big money in the future.

Whenever you are Holoway claims SoLo’s quick mission is always to render fast access in order to emergency funding, he adds the startup’s genuine mission is always to do a great virtuous network, in which borrowers change the financial steps and stay lenders on the program. (more…)