A recent $400,000 investment from Virginia-based QED Investors finished off the Seed round. Prior investments contributing to the total amount include:
- $1.2 million in May of 2012
- $310k in September 2011
The Cincinnati-based startup plans to use the funding to expand marketing, develop fundraising tools, and enhance the platform by adding social networking features.
To learn more about SoMoLend, watch its FinovateSpring 2012 demo.