In a world where financial hardships are all too common, Chris Harder, CEO, and co-founder of Frello, is on a mission to redefine lending by turning personal loans into a community-driven, peer-to-peer experience. Frello, a groundbreaking app set to launch its Beta in the first quarter and a wide release in late summer, aims to revolutionize the lending industry by creating a marketplace that connects individuals with financial needs to those willing to lend, fostering a sense of community and support.

The Frello app isn’t just about borrowing and lending; it’s about creating a community that supports each other through financial challenges. When borrowers use Frello, they borrow from peers within their community, and lenders extend a helping hand to lift others up in their time of need. Frello’s transparent and easy-to-use app allows borrowers to decide how they want to repay their loans while lenders bid to offer the best terms.

The Frello journey began with a seemingly ordinary DM, a request for financial assistance from a landscaper two payments behind on his truck. Chris Harder, known for his generosity but cautious about online requests, felt an inexplicable calling to help. “It felt like a physical beam of light coming down through my head into my heart, like a divine message,” Chris recalls. Little did he know that this act of kindness, a $680 loan, would be the catalyst for Frello’s creation.

The landscaper not only saved his business but expanded, creating two additional jobs in the process. This transformative experience planted a seed in Chris’s mind—how could he replicate this impact on a larger scale? Thus, the concept of Frello, the “friendlier loan” app, was born.

Frello offers a simple and transparent solution to short-term financial challenges, allowing individuals to request small, uncollateralized personal loans with no shame, denials, or lengthy underwriting processes. On the other side of the app, lenders scroll through a vertical feed, making blind bids on loan requests, setting the market for borrowers to choose from. The app’s design ensures an efficient lending process.

Chris describes the app as “the antithesis to payday loans,” providing borrowers with the flexibility to choose from various loan terms and repayments. The marketplace empowers borrowers to make informed decisions, moving away from traditional lending models that often exacerbate financial difficulties.

One of the key concerns with uncollateralized loans is the risk of non-payment. Frello addresses this by implementing a proprietary risk score and a guarantee backed by an insurance pool. In the event of non-payment, Frello replaces the unpaid principal, providing lenders with peace of mind. The app also introduces a unique credit system, reimbursing lenders in the form of Frello credits if a loan gets too far past due. “When a loan becomes too far past due, it becomes our problem, not the lender’s problem,” Chris adds. They can use the credit to make another loan again.”

The Frello team, led by Chris Harder and his business partner, Matt Marek, a tech industry veteran, has meticulously crafted the app, ensuring a secure and user-friendly experience for both borrowers and lenders.

Chris Harder is passionate about Frello being his legacy project. He envisions a world where Frello changes how people behave in financial jams, taking power away from institutions and placing it in the hands of the community. To him, Frello is not just a financial platform but a movement towards a friendlier, more supportive approach to lending. “This truly is my legacy project. I can tell you that. This is my—what people will say ‘Hey, what did he build? What did he do to really contribute to the world?’ And I really believe that this will be that legacy project.”

“Go find the other half. Go find the missing pieces,” Chris advises, reflecting on his journey to create Frello. His partnership with tech expert Matt Marek showcases the power of collaboration in bringing innovative ideas to life.

Frello’s mission is to make investing fun and trustworthy again, revolutionizing the industry and providing unmatched returns for lenders. With a talented team of tech ninjas and a vision fueled by compassion and community, Frello is set to reshape the financial landscape.

About Frello

Frello is a peer-to-peer lending app designed to make personal loans a friendlier and more community-driven experience. With a focus on transparency, flexibility, and community support, Frello aims to revolutionize the lending industry and empower individuals to navigate financial challenges with ease.

Published by: Nelly Chavez