About SoMoLend
SoMoLend is a company based in Cincinnati (United States) founded in 2011 by Candace Klein. It operates as a B2C, and Marketplace. SoMoLend has raised $4.23 million across 5 funding rounds from investors including LaunchHouse, QED Investors and Blue Chip Venture. SoMoLend offers products and services including Loan Comparison Tool and Loan Application Service. SoMoLend operates in a competitive market with competitors including Ovamba, The Small & Medium Business Exchange, CrowdOut, LendSquare and fvndit, among others.
- Headquarter Cincinnati, United States
- Founders Candace Klein
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$4.23 M (USD)
in 5 rounds
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Latest Funding Round
$2.2 M (USD), Seed
Mar 06, 2013
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Investors
LaunchHouse
& 5 more
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Employee Count
Employee Count
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Products & Services of SoMoLend
SoMoLend offers a comprehensive portfolio of products and services, including Loan Comparison Tool and Loan Application Service. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Service for comparing unsecured consumer loans from multiple providers.
Platform that sends loan applications to partnered banks quickly.
Funding Insights of SoMoLend
SoMoLend has successfully raised a total of $4.23M across 5 strategic funding rounds. The most recent funding activity was a Seed round of $2.2 million completed in March 2013. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Seed — $2.2M
- First Round First Round
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2013 | Amount | Seed - SoMoLend | Valuation |
investors |
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| Oct, 2012 | Amount | Seed - SoMoLend | Valuation |
investors |
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| Apr, 2012 | Amount | Seed - SoMoLend | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in SoMoLend
SoMoLend has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include LaunchHouse, QED Investors and Blue Chip Venture. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital fund investing in early-stage start-ups
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Founded Year | Domain | Location | |
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Late-stage investments in US tech companies are targeted.
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Founded Year | Domain | Location | |
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CincyTech is engaged in venture capital investments for innovative startups.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by SoMoLend
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - SoMoLend
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Somolend Comparisons
Competitors of SoMoLend
SoMoLend operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Ovamba, The Small & Medium Business Exchange, CrowdOut, LendSquare and fvndit, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online peer-to-peer lending is facilitated for SMEs by Ovamba.
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| domain | founded_year | HQ Location |
Online P2P marketplace for term loans
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| domain | founded_year | HQ Location |
P2P funding is facilitated for middle market business loans.
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| domain | founded_year | HQ Location |
Provides community funding solutions for small businesses.
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| domain | founded_year | HQ Location |
SME financing is enabled through a P2B lending platform.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about SoMoLend
When was SoMoLend founded?
SoMoLend was founded in 2011.
Where is SoMoLend located?
SoMoLend is headquartered in Cincinnati, United States. It is registered at Cincinnati, Ohio, United States.
Who is the current CEO of SoMoLend?
Candace Klein is the current CEO of SoMoLend. They have also founded this company.
Is SoMoLend a funded company?
SoMoLend is a funded company, having raised a total of $4.23M across 5 funding rounds to date. The company's 1st funding round was a Seed of $1.17M, raised on Jun 01, 2011.
What does SoMoLend do?
Billigsteforbrukslån is a website that provides comparisons of unsecured consumer loans from various Norwegian providers. It offers tools to search, calculate, and apply for loans based on factors like interest rates and repayment terms. The platform collaborates with multiple banks and brokers to facilitate quick applications. Users can access information on loan benefits, risks, and guidelines, primarily targeting individuals in Norway seeking financial options.
Who are the top competitors of SoMoLend?
SoMoLend's top competitors include CrowdOut, The Small & Medium Business Exchange and Ovamba.
What products or services does SoMoLend offer?
SoMoLend offers Loan Comparison Tool and Loan Application Service.
Who are SoMoLend's investors?
SoMoLend has 6 investors. Key investors include LaunchHouse, QED Investors, Blue Chip Venture, CincyTech, and North Coast Angel Fund.
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