SoMoLend is a debt-based crowdfunding platform founded in 2011 and headquartered in Cincinnati, OH. The SoMoLend.com platform automates loan applications, interest negotiations, funding progress, payments, and provides fundraising campaign tools to help small businesses secure loans from customers, friends, family, accredited investors, and institutional lenders. Its model is enabled by the JOBS Act. SMLH has entered an agreement with GATE US LLC, a registered broker/dealer and FINRA/SIPC member, to oversee securities offerings once funding-portal rules are finalized. In March 2013 the company closed a $2.18 million seed-stage funding round, including a $400,000 investment from QED Investors. Proceeds will be used to enhance the software (including social networking features), expand marketing and customer acquisition, and develop fundraising tools and education programs.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Mar 2013