About SoMo
SoMo is a Financial Services company based in Altrincham (United Kingdom) founded in 2014. Short-term bridging loans are provided via an online P2P platform. The company has 39 employees. Its chief executive, as recorded, is Louis Alexander. Its website somo.co.uk draws about 29 thousand monthly visits. Its focus areas include FinTech, Alternative Lending, Online Lenders and Mortgages. Its legal entity is SOCIAL MONEY LIMITED. Its competitors include CrowdProperty, LendInvest and Loanpad; 3 of its 3 listed competitors have raised funding.
Company details
SoMo was founded in 2014 in Altrincham, United Kingdom, as an online peer-to-peer lending platform focused on short-term bridging finance. Funds from investors are channeled to support residential and commercial loans for borrowers. Flexible repayment options, including monthly installments, are available to borrowers. Returns on investment are generated for investors through the platforms operations in the financial services sector.
- Headquarters Altrincham, United Kingdom
- Employees 39
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website somo.co.uk
- Social LinkedIn
- Legal Name Social Money Limited
- Date of Incorporation 02 May, 2012
- Jurisdiction ALTRINCHAM, GREATER MANCHESTER, UNITED KINGDOM
- Annual Revenue$16.95 M (USD)14as on Mar 31, 2021
- Net Profit$5.04 M (USD)20as on Mar 31, 2021
- Latest Funding Round$400.17M (USD), Debt – Conventional
Dec 2020
- Investors
- Employee Count39
Funding Insights of SoMo
- Total Rounds 1
- Last Round Debt – Conventional — $400.17M
- First Round $400.17M
(Dec 2020)
- Investors Count 1
All 1 funding rounds of SoMo with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2020 | $400.17M | Debt – Conventional | – | – |
1 investors in total: 1 institutional.
Investors in SoMo
SoMo has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Deutsche Bank.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Diversified banking and financial services are provided globally. | 1870 | db.com | Frankfurt Am Main, Germany |
Investor details for SoMo
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People of SoMo
1 people are tracked at SoMo (1 in leadership); the tracked headcount is 39.
| Name | Role | Group |
|---|---|---|
Louis Alexander | CEO | Leadership |
Complete people profiles for SoMo
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Timeline of SoMo
2 dated milestones of SoMo across 6 years, from founding to its latest funding, stage changes and deals.
- Founded SoMo is founded.
- Funding First funding round of $400.2M.
Competitors of SoMo
SoMo has 3 listed competitors in our database, 3 of them funded. They include CrowdProperty, LendInvest and Loanpad.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| crowdproperty.com | 2014 | Edgbaston, United Kingdom | $6.42M | 31 | Provider of P2P marketplace for mortgage loans | |
| lendinvest.com | 2013 | London, United Kingdom | $128.87M | 181 | P2P lending platform for mortgage loans | |
| loanpad.com | 2015 | London, United Kingdom | $1.84M | 13 | P2P platform for commercial and residential mortgage loans is operated. |
Detailed competitors of SoMo
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Web traffic of SoMo
The website of SoMo (somo.co.uk) receives about 29.2K visits a month.
- Monthly visits29.2K
▲ 116.3% vs previous month
Websites whose visitors overlap most with SoMo. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| fundingcircle.com | 100% | 217.8K | #179,406 | View details | |
| thirdbridge.com | 96% | 261.1K | #164,280 | View details | |
stoneholdinvestment.co.uk | stoneholdinvestment.co.uk | 68% | #3,564,172 | – | |
| abrdn.com | 68% | 29.9K | #708,149 | View details | |
| crowdproperty.com | 66% | 25.4K | #1,052,582 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 10 similar websites and full traffic analytics for SoMo
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- 10 similar websites
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Top companies in Alternative Lending
2 companies that operate in the same segment as SoMo (Alternative Lending) in United Kingdom, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
A peer-to-peer marketplace for business loans is operated and developed. | 2010 | London, England, United Kingdom | USD 372.67 M | USD 299.61 M | 860 | |
Financial benefits platform for on-demand pay is provided to employees. | 2018 | London, England, United Kingdom | USD 133.02 M |
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Related news about Somo
Complete news archive for SoMo
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Frequently Asked Questions about SoMo
SoMo was founded in 2014 and raised its 1st funding round 6 years after it was founded.
SoMo is headquartered in Altrincham, United Kingdom. It is registered at Altrincham, Greater Manchester, United Kingdom.
Louis Alexander is the CEO of SoMo, as recorded in our data.
SoMo has 39 employees.
Annual revenue of SoMo is $16.95M as on Mar 31, 2021.
SoMo was founded in 2014 in Altrincham, United Kingdom, as an online peer-to-peer lending platform focused on short-term bridging finance. Funds from investors are channeled to support residential and commercial loans for borrowers. Flexible repayment options, including monthly installments, are available to borrowers. Returns on investment are generated for investors through the platforms operations in the financial services sector.
SoMo's top competitors include CrowdProperty, LendInvest and Loanpad.
SoMo has 1 investor. Key investors include Deutsche Bank.
SoMo operates through Social Money Limited.