“Can a peer-to-peer microloan marketplace become the community banking OS for underbanked Americans by combining AI-powered lending, cooperative yields, and embedded debit banking?”
Founded in 2018 as a peer-to-peer microloan marketplace targeting underbanked Americans with short-term emergency loans, SoLo Funds originally relied on Synapse Financial Technologies and Evolve Bank & Trust for its banking infrastructure. After Synapse's collapse in 2023-2024, SoLo migrated to a new banking stack anchored by Bangor Savings Bank via Treasury Prime and introduced SoLo Wallet with a Mastercard debit card, evolving from a pure lending marketplace into a community banking platform. The company now positions itself as an AI-powered community finance platform combining peer-to-peer lending, cooperative yield-producing accounts, and embedded banking services for the underserved.
Solofunds discloses Treasury Prime as its banking provider, with Evolve Bank & Trust as its sponsor bank, according to the Embedded Finance Index 2026.
Solofunds does not disclose a bank charter of its own; its banking services are provided through Evolve Bank & Trust.
Solofunds moves money over ACH.
Solofunds's cards are issued through Bangor Savings Bank.
Solofunds connects to bank accounts through Plaid.
The Embedded Finance Index 2026 maps 6 layers in Solofunds's stack: Money movement (ACH); Banking / BaaS (Treasury Prime); Card issuing (Bangor Savings Bank); Lending (Peer-to-peer microloans and Short-term personal loans (up to $650, up to 15 days)); Open banking (Plaid); Sponsor bank (Evolve Bank & Trust).
Solofunds was founded by Travis Holoway and Rodney Williams and is founded in 2018, headquartered in Los Angeles, CA, United States.
Solofunds has raised $13M in total (latest round: Series B, 2023).
Get a read on where your own stack stands against Solofunds and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.