More news out of mobile short-term lending platform SoLo Funds: On April 4, it announced that it had enabled a Mastercard integration. The move permits users to connect their debit card accounts to their SoLo profile, which will, in turn, allow for "faster, more seamless lending transactions."
“This integration brings us a step closer to our goal of transforming the lending sector by providing timely access to small loans through everyday mobile users," said SoLo Funds co-founder and CEO Travis Holoway.
Marlon Nichols, managing partner at Cross Culture Ventures, emphasized the importance of the move.
"Continuing to expand the capabilities of this platform is important considering that most Americans live paycheck to paycheck and typically face financial peril when presented with modest (~$400) emergency expenses," Nichols said.
The move comes nearly three months after the Cincinnati-born company (and Hillman Accelerator grad), which allows users to borrow up to $1,000 from a network of peer lenders, announced it would be moving from the Queen City to Los Angeles. After the move to L.A., Jon Blackwell, former co-founder and chief product officer of Tala, joined the company as its new CPO.”
