When was SoMoLend founded?

SoMoLend was founded in 2011 and raised its 1st funding round within a year of its incorporation.

Where is SoMoLend located?

SoMoLend is headquartered in Cincinnati, United States.

How many employees does SoMoLend have?

As of Jul 01, 2024, the latest employee count at SoMoLend is 1 - 10.

Is SoMoLend a funded company?

SoMoLend is a funded company, having raised a total of $4.22M across 5 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on 2011.

When was the latest funding round of SoMoLend?

SoMoLend's latest funding was a $***** Seed round on Mar 06, 2013, with participation from 5 investors. Its primary sector is Alternative Lending. In United States, the Alternative Lending sector has seen $4.91B in funding in 2026 to date.

Where does SoMoLend rank among its competitors?

SoMoLend ranks 4th amongst 10 active competitors, of which 4 are funded. It stands 2nd in terms of total funding among its competitors. The most recent competitor to raise funding was The Small & Medium Business Exchange, which secured $11.5M in Oct, 2021.

Who are the top competitors of SoMoLend?

SoMoLend's top competitors include The Small & Medium Business Exchange, Ovamba and fvndit. Among them, The Small & Medium Business Exchange secured the most recent funding round in October, 2021.

SoMoLend - 2026 Company Profile, Team, Funding & Competitors

SoMoLend is a deadpooled company based in Cincinnati (United States), founded in 2011 by Candace Klein. It operates as a Comparing consumer loans in Norway to find the cheapest options. SoMoLend has raised $4.22M in funding. The company has 10 active competitors, including 4 that are funded. Its top competitors include companies like The Small & Medium Business Exchange, Ovamba and fvndit.

Company Details

Comparing consumer loans in Norway to find the cheapest options, a platform providing insights into the Norwegian consumer loan market. It offers a comprehensive overview of various loan options, enabling users to compare interest rates, fees, and terms from different providers. The platform aims to empower users to make informed decisions and find the loan that best suits their individual needs. It also provides guidance on factors to consider before taking out a consumer loan, offering advice on avoiding financial difficulties. The website serves as a valuable resource for individuals seeking unsecured loans, personal loans, refinancing options, and small loans. It facilitates the comparison of loan offers from multiple banks, helping users secure competitive interest rates and favorable loan terms. The platform supports responsible borrowing by providing educational content and tools for financial planning.

Website: somolend.com
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Key Metrics

Founded Year

2011

Location

Cincinnati, United States

Stage

Deadpooled

Total Funding

$4.22M in 5 rounds

Latest Funding Round

Seed, Mar 06, 2013, $*****

Investors

QED Investors & 6 more

Ranked

4^th among 10 active competitors

Employee Count

1 - 10 as on Jul 01, 2024

Similar Companies

Linked Finance & 223 more

View SoMoLend's full profile

SoMoLend has raised a total funding of $4.22M over 5 rounds. Its first funding round was on 2011. Its latest funding round was a Seed round on Mar 06, 2013 for $*****. 5 investors participated in its latest round. SoMoLend has 7 institutional investors.

Here is the list of recent funding rounds of SoMoLend:

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Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Mar 06, 2013	4147732	Seed	3694244	1932362	4008943	4973237
Oct 03, 2012	2775218	Seed	3703053	5060786	7741127	5715108
Apr 12, 2012	6327149	Seed	6552108	9219468	4716481	CincyTech & 2 more

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View details of SoMoLend's funding rounds and investors

The founders of SoMoLend is Candace Klein.

Here are the details of SoMoLend's key team members:

Candace Klein: Founder and CEO of SoMoLend.

View details of SoMoLend's Founder profiles and Board Members

SoMoLend's employee count trend

SoMoLend has 1 - 10 employees as of Jul 24. Here is SoMoLend's employee count trend over the years:

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Top competitors of SoMoLend include The Small & Medium Business Exchange, Ovamba and fvndit. Here is the list of Top 10 competitors of SoMoLend, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	The Small & Medium Business Exchange 2016, San Francisco (United States), Seed	Online P2P marketplace for term loans	$15M	Group 11, Better Ventures & 14 others	51/100
2nd	Ovamba 2013, Chevy Chase (United States), Seed	Trade & investment solutions driving business growth through digital and technology	$1.5M	GLI Finance, Founder Institute & 1 others	44/100
3rd	fvndit 2018, Irvine (United States), Funding Raised	P2B lending platform for SME financing	-	Accial Capital, Variant Investments	30/100
4th	SoMoLend 2011, Cincinnati (United States), Deadpooled	Comparing consumer loans in Norway to find the cheapest options	$4.22M	QED Investors, Blue Chip Venture & 5 others	29/100
5th	Loanbase 2013, San Mateo (United States), Funding Raised	Streamlining CRE financing with an all-in-one platform connecting borrowers and lenders	-	Flucas Ventures, Boost VC & 6 others	27/100
6th	LendSquare 2011, Chicago (United States), Deadpooled	Community funding for Small Businesses.	-	500 Global, Village Capital	27/100
7th	Rebirth Analytics 2018, Spokane (United States), Unfunded	Limited information available	-	-	26/100
8th	Open Capital Exchange 2013, New York City (United States), Deadpooled	Debt raising platform for SMEs	-	-	23/100
9th	Community Sourced Capital 2012, Seattle (United States), Deadpooled	P2P marketplace for business term loans	$267K	SVC, Fledge	22/100
10th	FundingFuel 2017, Delaware City (United States), Unfunded	Connecting small businesses with investors, lenders, and advisors for growth	-	-	22/100