The Largest Black-Owned Fintech Startup Continues to Invest in Growth with New Executive Leadership
LOS ANGELES, Feb. 22, 2023 /PRNewswire-PRWeb/ -- SoLo, the largest Black-owned B Corp fintech offering a variety of products and solutions for economically disadvantaged communities, announces the expansion of its leadership team, appointing Collin Schwartz as General Counsel to develop and lead all legal strategy, Kyle George as the Head of Government & Regulatory Affairs, and Manny Alvarez as Advisor. With these new additions, SoLo Funds will provide and receive senior counsel on state and federal regulatory activities in the U.S., including the development of strategy, managing relationships, and ensuring compliance within sales and marketing that focuses on ensuring the best customer experience while driving results.
Schwartz brings a depth of experience in legal and regulatory affairs, and is joining during a time when SoLo Funds is rapidly expanding. Before joining SoLo Funds, Schwartz served as General Counsel at TruSight, a NYC-based third-party risk assessment service. He has also held compliance and regulatory-related leadership roles at major financial institutions including Citi, Deutsche Bank, Scotiabank, Bank of China, Bank of New York-Mellon and MUFG, earning a reputation as a strategic thinker and experienced executive.
"As an admirer of the positive impact SoLo Funds has on so many lives, I'm pleased to lend my strategic insight to the next stage of the company's growth," said Collin Schwartz. "Bringing fair access to money and a chance at financial wellness for all is vital, so I'm excited to be part of the important work making community finance an industry standard."
George joins SoLo Funds after previously holding roles as the First Assistant Attorney General for the State of Nevada, where he sat on the Executive Board of the Office of the Nevada Attorney General, and General Counsel to Nevada's Governor. As First Assistant Attorney General, George supervised over 100 attorneys across 9 divisions responsible for legal representation of Nevada's State Agencies, Boards, and Commissions in civil litigation, as well as regulatory and administrative proceedings. He also advised Nevada's constitutional officers including the Governor, Lieutenant Governor, Attorney General, Secretary of State, Comptroller, and Treasurer.
"I'm excited to join SoLo and the team that is pioneering a new standard in ethical community finance," said Kyle George. "SoLo is leading the industry in serving overlooked communities, and I'm eager to lend my expertise to effectively manage and navigate the complex regulatory and legal landscape."
Alvarez brings a unique perspective to regulatory strategy not often found in the financial industry as he served as the former Banking Commissioner for the state of CA. His advisory role will help accelerate SoLo's current model and the development of new services that continue to put its consumers and communities first. Known for his significant and early contributions to the "Buy Now, Pay Later" (BNPL) space just to name a few, Alvarez previously served as the First General Counsel, Chief Compliance Officer, and Corporate Secretary for Affirm, championing the company's consumer-centric and market-leading platform. Alvarez's experience brings an understanding of new fintech models without universal regulation like BNPL.
"I truly believe in SoLo's community-first ethos and the founding team's sincere commitment to that mission," said Manny Alvarez. "As a former regulator, I know that people desire a fintech industry that better serves their needs and is representative of their experience, so I'm proud to join SoLo's mission to solve that problem."
"Too many policymakers don't understand the challenges and opportunities faced by everyday Americans affected by their decisions, which is a major problem we are working to change," said SoLo Funds Co-Founder and President, Rodney Williams. "We are incredibly excited to have Collin, Kyle, and Manny join, which will benefit the advancement of our model and the communities we serve. SoLo stands out in this fintech environment as a true community finance platform where its members should be allowed to lend a hand to others in need, whether for social impact or for a return."
SoLo has seen record user and activity growth on its platform, including the recent milestone of surpassing over $160M in loans and $300M in transaction volume despite only raising $14M in equity funding. 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 Q1 '24. Anyone interested in joining the SoLo Funds team in California or remotely can visit the career page here.
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About SoLo Funds
SoLo is the leading finance platform focused on economically disadvantaged communities. Our members borrow on their own terms and lend to make industry leading returns or a social impact. SoLo has surpassed 900k users, $160M in loans, and $300M in transaction volume with 82% of its members being from underserved zip codes. As the only Black-owned B Corp Fintech in the U.S. and Canada, SoLo has emerged as the new financial service leader on pace to deliver $1B back into underserved communities by Q1 '24. The financial system has intentionally failed our communities excluding them from returns and access to short term cash. So we created something different. We created something more human. We went back to the basics, creating a community where people could support each other financially. We call this community finance.
Media Contact
Brennan Nevada Johnson, SoLo Funds, 1 401-556-0662, [email protected]
SOURCE SoLo Funds
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