SFSolo Funds Financial Model
Fintech Startup Financials (Free Excel Download)
Mobile peer-to-peer lending exchange for small-dollar loans (under $1,000) targeting underbanked Americans.
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About this model
SoLo Funds is a mobile peer-to-peer lending exchange for small-dollar loans, serving underbanked Americans seeking loans generally below $1,000. It connects borrowers and individual lenders rather than funding every loan directly from a conventional bank balance sheet.
The app experience indicates borrowers repay slightly more than principal, consistent with a tip or fee model. The platform’s value depends on balancing two-sided liquidity, underwriting trust, and a low-friction experience for repeat lending and borrowing.
The model should forecast active borrowers and lenders, loan requests, funding conversion, average loan size, repeat rate, and total originated volume. Apply a take rate to tips or fees, then include payment operations, fraud, servicing, and potential B2B or white-label revenue separately.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About Solo Funds
How to build a detailed financial model for Solo Funds
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Solo Funds model - distilled from its pitch deck and publicly available information.
Product & value proposition
- Mobile-first P2P loan marketplace; borrowers post requests up to $1,000, individual lenders fund them.
- Proprietary "SoLo Score" (social credit algorithm) determines borrower eligibility and loan amount.
- Lender feed shows loan requests filterable by SoLo Score, amount, and location.
- Borrowers set their own repayment amount (i.e., tip/interest is borrower-determined, visible in app as "Amount" vs. "Pay + Payback" columns - e.g. $65 → $70, $101 → $106, $52 → $55, $95 → $100).
- Bundled financial literacy curriculum (white-labeled, free to all users - EVERFI partnership).
- AML/KYC identity validation and bank authentication at sign-up.
- Roadmap includes private group lending, tax reporting, and white-label banking solutions.
Market
- 78% of American workers live paycheck-to-paycheck.
- 47% of Americans cannot cover a $400 cash emergency.
- Problem framing: resources for loans under $1,000 are "extremely scarce".
- No explicit TAM/SAM/SOM dollar figures provided. Market size not quantified in deck.
Revenue model
- Not explicitly stated in deck.
- App UI (slide 4) shows borrowers repay slightly more than they borrow (e.g. $65 borrowed → $70 repayment; $101 → $106; $52 → $55; $95 → $100) - implies a borrower-set tip/fee on top of principal, consistent with SoLo's known "tip" model.
- Platform likely takes a transaction fee or a cut of the borrower tip; exact take-rate not disclosed in deck.
- Roadmap mentions "White-Label Banking Solutions" as a future revenue line.
- Financial literacy curriculum is stated as free to users; no monetisation of that channel mentioned.
Traction & metrics
- Raised $1.2M Seed round.
- Published patent; SoLo trademarks and IP; proprietary Social Credit Algorithm.
- Accelerators: Techstars Patriot Boot Camp (zero equity), LUMOS, HILLMAN.
- Partnerships: Synapse (money transmitter), EVERFI (financial literacy), TrueAccord (debt collections), Microblink (ID scanner).
- Press: Black Enterprise, Blavity, App Idea Awards, KnowTechie.
- Speaking: Women's Bond Club, Money 20/20.
- No user count, loan volume, GMV, revenue, or retention figures disclosed.
Unit economics
- App UI implies loan tip spread of ~5–8% per loan (e.g. $5 on $65, $5 on $101, $3 on $52, $5 on $95); platform take-rate on this spread not stated.
Competition / moat
- Direct competitors shown in matrix: LendingClub, LendingTree, Prosper, Puddle, LendUp.
- SoLo is the only player checking all five features: Low Loan, Mobile, Web, Peer-to-Peer, Financial Literacy.
- LendingClub, LendingTree, Prosper: no low-loan, no mobile, P2P marked as institution-dictates-borrower.
- Puddle: low loan + P2P but no mobile, no financial literacy.
- LendUp: low loan + financial literacy but no mobile, no P2P.
- Moat claims: SoLo Score proprietary algorithm, published patent, mobile-first UX, bundled financial literacy.
Team & funding ask / use of funds
- Founders: Travis Holoway (CEO, ex-Northwestern Mutual), Rodney Williams (Advisor, ex-LISNR / P&G), Jarrel Carter (Strategic Partnerships, Roc Nation), Taylor Conophy (Design Lead, ex-NYSE / RedOwl).
- Full team of 9 listed: PM, Lead Developer, Data Scientist, iOS/Android/Backend developers, Product Designer, Design & Marketing, QA.
- Advisors: Jenny Fielding (MD Techstars NY & SF), Seth Metcalf (Former Deputy Treasurer of Ohio), Richelieu Dennis (Sundial Brands exit, Essence owner).
- Funding ask: Not explicitly stated. Deck is marked "Seed" and references having already raised $1.2M; no new round size or use-of-funds breakdown provided.
- Contact: Travis Holoway, travis@solofunds.com.
Recommended financial model
- Archetype + why: Marketplace GMV / transaction-volume model with a thin take-rate layer. SoLo is a two-sided loan marketplace - the natural forecast unit is total loan volume originated (GMV), from which platform revenue is derived as a take-rate on borrower tips. Secondary line: potential white-label / B2B revenue in later years.
- Forecast horizon & granularity: 3 years monthly (2018–2020), switching to quarterly in year 3. Monthly needed to track loan volume ramp and cash burn against $1.2M seed.
- Key drivers & assumptions:
- Active borrowers (monthly): start near zero at Go-to-Market launch (May 2018 per roadmap); ramp driven by referral program (June '18) and banking partner (Aug '18).
- Average loan size: ~$150–$300 (sub-$1,000 max; typical payday-alternative range).
- Loans per borrower per month: 1–2x (short-cycle, repeat use likely given paycheck-to-paycheck audience).
- Monthly GMV = Active borrowers × avg loan size × loans/borrower/month.
- Borrower tip rate (effective yield): ~5–8% per loan, based on app UI examples.
- Platform take-rate on tips: 50–70% of tip (common marketplace model); not disclosed.
- Net revenue = GMV × tip rate × platform take-rate.
- Default/charge-off rate: 5–15% of loan volume (high-risk, thin-file borrowers; benchmark against payday/BNPL peers).
- CAC: $5–$20 (mobile-social referral model; low but unconfirmed).
- Headcount and opex: based on ~10-person team as of 2018 deck; scale with growth.
- Scenarios (Base / Bull / Bear - which variables flex):
- Bear: slow borrower adoption, high default rate (15%), low take-rate capture.
- Base: steady referral-driven growth, 8% tip rate, 10% defaults, 60% take-rate.
- Bull: banking partner (Aug '18) accelerates lender supply, defaults stay at 5%, white-label revenue begins in 2019.
- Required sheets / outputs:
- Assumptions - all drivers with scenario toggles (Base/Bull/Bear via CHOOSE).
- User Growth - borrowers and lenders by cohort/month.
- Loan Volume (GMV) - monthly originations, outstanding book.
- P&L - net revenue (tips × take-rate), less defaults, less opex (headcount, infra, compliance, marketing).
- Cash Flow & Runway - burn vs. $1.2M seed; when next raise is needed.
- Dashboard - GMV, active users, net revenue, default rate, runway.
Frequently asked
Is the Solo Funds financial model free?+
Yes. The Solo Funds model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from Solo Funds's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
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