CincyTech Invests in SoMoLend, Where People Invest in People
May 17, 2012
SaaS micro-lending platform SoMoLend locked down $1.17 million in a seed financing led by CincyTech Ventures. "So" stands for the social aspect of the business that connects investors and borrowers before and during the loan process, while "Mo" is for the mobile part that allows them to connect via location. SoMo plans to launch its peer-to-peer lending platform nationwide in 2013.