SoLo Funds has acquired over 1 million registered users and over 1.3 million downloads to make it “the largest and first Black-owned personal finance platform” to do so, Rodney Williams, co-founder and president of SoLo, told TechCrunch.
The community finance company defines the claim “as a business-to-consumer personal finance banking solution, U.S.-based and Black-owned with registered users or downloads above 1 million. Black-owned is defined as Black majority ownership.”
“It’s a huge testament to the product we’ve built, that it is actually addressing a real problem,” Williams told TechCrunch. “The system is somewhat discriminatory or selective, in that it’s extremely expensive to start a financial services company. That cost is a significant barrier of entry for the average American who are the ones that need these financial services. It’s challenging across the board.”
SoLo has been on ...
