SoLo Funds, a mobile short-term lending platform, has announced it will move from Cincinnati to Los Angeles. Jon Blackwell, former co-founder and chief product officer of Tala, will also join the company as its new CPO.

The company, which allows users to borrow up to $1,000 from a network of peer lenders, said it “sees a unique opportunity in the Los Angeles market” amid other fintech companies in the area (like Dave.com and Acorns); together, they’ve fueled “a fertile ground of talent and resources there,” a press release on the move states.

Meanwhile, Blackwell — who helped raise more than $100 million for Tala — expressed excitement about joining the SoLo team.

“I’ve spent a good portion of my career leading financial service products for underserved markets globally while not being able to impact individuals here in the U.S.,” he said.  “What I see in SoLo is the first viable and scalable solution to truly address the world’s most valuable underserved market, the 78 percent of Americans who live check to check. I am thrilled to be joining SoLo and driving towards making a financial impact to many Americans.”

SoLo Funds Provides Affordable Access to Small Dollar Loans for Those in Need

Solo Funds CEO Travis Holoway echoed his sentiment.

“Jon brings a unique and impactful skillset and years of experience to SoLo,” he said in an email to Cincy Inno. “As we continue to scale, the combination of Jon joining our team and the move to Los Angeles arms us with the right team in the right place to continue to build one of fastest growing fintech solutions on the market for short-term loans.”

These aren’t the first headlines for the 2017-born SoLo Funds. It participated in the inaugural cohort of Hillman Accelerator, as well Techstars Kansas City’s most recent program. Additionally, it just raised $3 million in a series of seed round injections.