# SoLo Funds

> SoLo Funds is a Los Angeles peer-to-peer lending marketplace where regular people, not banks, fund each other's small emergency loans - typically $20 to $575, repaid in about a month, with borrowers setting their own optional tip to the lender and a donation to the platform. Founded in 2018 by Travis Holoway and Rodney Williams, it has grown into what it calls the largest Black-owned fintech in the United States, moving roughly $700 million in loans to more than two million members while fighting an unusually public battle with regulators over what its loans really cost.

- **Founded:** 2018
- **Headquarters:** Los Angeles, United States
- **Founders:** Travis Holoway (CEO & Co-Founder), Rodney Williams (President & Co-Founder)
- **Team size:** Roughly 74-90 employees
- **Products:** SoLo Funds Lending Marketplace, SoLo Score, SoLo Wallet & Mastercard Debit Card, SoLo IQ
- **Notable:** Grew to more than 2 million registered members and roughly $700M in loans facilitated, Described as the largest Black-owned fintech company in the United States, Named to CNBC's 2023 Disruptor 50 list

## Products & services

- **SoLo Funds Lending Marketplace** — A peer-to-peer marketplace where borrowers request small loans (roughly $20 to $575) and individual lenders choose which requests to fund. Borrowers set an optional tip to the lender and an optional donation to SoLo; loans are repaid in about 35 days.
- **SoLo Score** — A proprietary in-app creditworthiness score that helps lenders decide which loan requests to fund and lets borrowers unlock higher limits by repaying on time.
- **SoLo Wallet & Mastercard Debit Card** — A digital wallet and no-fee Mastercard debit card, issued by Bangor Savings Bank (Member FDIC), that makes lending, borrowing and banking easier inside the app.
- **SoLo IQ** — An AI-powered budgeting and financial-guidance feature that helps members plan and manage their money.

## Achievements

- Grew to more than 2 million registered members and roughly $700M in loans facilitated
- Described as the largest Black-owned fintech company in the United States
- Named to CNBC's 2023 Disruptor 50 list
- Certified B Corporation (2021) and public benefit corporation
- Rated best peer-to-peer lending app by CNN Underscored (2024)
- CFPB lawsuit dismissed with prejudice in 2025
- Co-founder Rodney Williams became a rare two-time CNBC Disruptor 50 founder

## Latest updates

- **2025-02** — The CFPB's 2024 lawsuit against SoLo Funds was dismissed with prejudice; the company published its full regulatory record.
- **2025-11** — SoLo Funds reported having facilitated about $700M in loans to more than 2 million members.
- **2024-05** — The CFPB sued SoLo Funds, alleging it concealed the true cost of loans; SoLo publicly vowed to fight the case.
- **2024-07** — CNN Underscored named SoLo Funds the best peer-to-peer lending app.

## Links

- Website: https://solofunds.com
- LinkedIn: http://www.linkedin.com/company/solo-funds
- Twitter/X: https://twitter.com/solofunds
- Instagram: https://www.instagram.com/solofunds/
- Facebook: https://www.facebook.com/SoLoFundsInc/

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Profile page: https://yespress.io/solo-funds
Published by YesPress — https://yespress.io
Last updated: 2026-08-21