In a world dominated by impersonal financial institutions, Frello is stepping up to change the game. Launched in the first quarter of 2024 with a wide summer release on the horizon, this innovative app is reshaping the way we borrow and lend money. At the helm of this FinTech revolution are Chris Harder and Matt Marek, the dynamic duo behind Frello.
Frello: A Friendlier Approach to Loans
Frello’s mission is simple yet profound: to facilitate friendlier loans by bridging the gap between those in need and those with the means to help. This innovative concept was a collaborative effort between Chris Harder and his business partner, Matt Marek. Chris underscores the importance of Matt’s expertise, stating, “I brought this idea to my business partner Matt Marek because he had the amazing Tech team and experience to be able to bring it to life.”
Frello’s charm lies in its human-centric approach. Unlike the impersonal dealings with faceless corporations, borrowing through the Frello app means your loan originates from peers, potentially right within your community. This unique connection creates a unique bond between borrowers and lenders, transforming the borrowing experience into a collaborative effort aimed at mutual support. It’s about helping each other, one loan at a time.
Borrowing on Your Terms
Frello empowers borrowers by putting them in control. You decide how much to borrow, how often to make payments, and the time frame to pay it back. The app’s transparency ensures that borrowers always know their terms without any hidden fees. It’s about making borrowing easier and tailored to individual needs.
Chris Harder elaborates on the borrower’s experience, stating, “You go on; you decide how much money you need. Think of $500, $1,000, $1,500. Then, on the other side of the app are probably a whole bunch of people like you and I. It’s really the Tinder for personal loans.”
Frello’s unique approach turns the borrowing process into a personalized experience. Borrowers can scroll through a vertical feed, much like a social media platform, where lenders make blind bids. These bids set the market, allowing borrowers to choose the terms that best suit their needs. It’s a far cry from the one-size-fits-all approach of traditional lending.
The Antithesis to Payday Loans
Chris Harder is passionate about providing an alternative to payday loans, emphasizing the need for time to repay short-term loans. Frello’s marketplace sets itself apart by offering diverse loan options, allowing borrowers to choose the lowest cost of funds or longer terms for smaller payments.
“This is the solution to all of these other solutions out there where they’re just kicking it down to your next paycheck because we all know that your next paycheck isn’t actually going to solve your problem. Most people need time to be able to pay back that short-term loan. And that’s what we’re building,” Chris explains.
Guaranteed Peace of Mind
Every loan on Frello is backed by a guarantee. Chris Harder assures, “Every single loan is guaranteed backstopped by an insurance pool that reimburses any lost loans.” Frello takes responsibility for loans that are too far past due, ensuring that the lender’s problem becomes Frello’s problem. The reimbursement comes in the form of Frello credits, promoting responsible lending practices. Frello credits can be taken out to make another loan. But Chris emphasizes, “What they can’t do is just take it out like cash; make sure they have to take that reimbursement and make a good loan this time.”
Chris sees Frello as more than just a financial platform; it’s a way to revolutionize the investment industry. “I’m so excited about the fact that pretty soon when we can bring this thing to market, we are gonna take the fear and the shame and the scare and the uncertainty out of people who wake up in an urgent financial jam,” he affirms.
A Personal Mission to Change the World
Chris Harder’s enthusiasm for Frello goes beyond business. He sees it as an opportunity to change lives and redefine the investment landscape. “I’m truly excited for this to help just revolutionize the industry of investing and kind of making it. I feel like making investing fun and trustworthy again is something that Frello really stands for,” he shares.
In his closing thoughts, Chris encourages others to pursue their dreams and missions, emphasizing the importance of finding like-minded individuals. “Whatever dream, whatever mission you know that you have inside of you, whatever calling you have inside of you, I urge you: go find the other half. Go find the missing pieces.”
In a world where financial transactions can often feel cold and distant, Frello is injecting warmth and humanity. With Chris Harder and Matt Marek at the helm, Frello is not just a financial tool but a movement, a revolution in the making that aims to make personal loans accessible, transparent, and, above all, human. So, get ready to swipe right on financial empowerment with Frello – where borrowing and lending meet the personal touch.
Published by: Nelly Chavez
