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December 6, 2023

SoLo Funds Announces Appointment of Patrick Armstrong as Chief Financial Officer

New Hire Comes Off The Heels of Record YOY Growth For Leading Community Finance Company

Los Angeles, CA, December 6, 2023SoLo, the US’s largest community finance platform, is excited to announce the expansion of its leadership team, appointing Patrick Armstrong as the company’s Chief Financial Officer (CFO). Armstrong will oversee accounting, financial operations and performance management, FP&A, as well as investor relations. 

Armstrong brings over 20 years of relevant industry experience and a strategic financial leadership track record within both public and private companies. He has an accomplished background of leading and managing companies strategic roadmaps. Before joining SoLo, Armstrong served as Chief Financial Officer and Treasurer of LoanLogics, Inc, a mortgage loan quality automation provider focused on developing innovations that improve transparency and accuracy of the mortgage process and loan commerce, which was sold to a top tier private equity firm in 2021. Prior to that, Armstrong was Director of Finance for Lead Intelligence Inc. (d/b/a Jornaya), a SaaS based consumer journey insight platform that provides companies with the highest resolution view of the consumer buying journey, which was acquired by a strategic partner in 2020. 

“I am eager to start this exciting journey with SoLo Funds as it continues to cement itself as the leading community finance platform in the country,” said Armstrong. “The company is in a high-growth phase and I look forward to assisting this great team on driving growth and success.”

“Armstrong possesses an impressive background and well-earned reputation for driving strong financial results in scaling tech startups that aligns with our next chapter of growth and impact across our organization,” said Rodney Williams, Co-founder and President of SoLo. “This is a testament to our purpose of building one of the best fintechs in the world and providing a winning solution to consumers who have historically been overlooked.” 

Earlier this year, the company officially became one of the largest community finance companies in the world, crossing a million users. SoLo has seen record user and activity growth on its platform, including the recent milestone of surpassing over $250M in loans and $550M in transaction volume. Founded in 2018, SoLo has significantly surpassed market expectations by addressing a clear unmet need for Americans that financial institutions at large have yet to deliver on. As the only Black-owned B Corp Fintech in the US and Canada, with 82% of its members from underserved zip codes, SoLo has emerged as the new financial service leader on pace to deliver $1B back into underserved communities by Q2 ‘24. 

Anyone interested in joining the SoLo Funds team in California or remotely can visit the career page here.  

 

About SoLo Funds

SoLo is the leading finance platform focused on underserved communities. Members borrow on their own terms, and lend to make industry leading returns or a social impact. As the only Black-owned fintech Certified B Corp in the U.S. and Canada, SoLo has emerged as the new financial services leader on pace to deliver $1B back into underserved communities by Q1 ‘24. The financial system has failed our communities, excluding them from returns and access to short term cash. SoLo created something different, something more human. They went back to the basics, creating a community where people could support each other financially. SoLo calls this community finance. 

Media contact

Brennan Nevada Johnson

Brennan@brennannevadainc.com