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Cash Crunch? Frello’s Proprietary Bidding System Connects Borrowers with Sweet Loan Deals

Chris Harder and Matt Marek Team Up to Launch Frello – The Friendlier Loan App
Photo Courtesy: Monica Linda

Frello, the groundbreaking financial platform, is set to transform the lending landscape with its innovative two-sided marketplace. The app introduces a refreshing approach to personal loans, allowing borrowers to receive multiple loan offers through a unique blind bidding system.

Frello’s Co-founder, Chris Harder, shared the inspiration behind the project, stating, “How do I pair more people like this who are in a short-term financial jam with people like me who are willing to make a bet on them? And then how do I incentivize people like me to make those bets? That became the idea of this two-sided marketplace, this peer-to-peer lending app for personal loans.”

Empowering Borrowers with Choice

At the heart of Frello’s app is a two-sided marketplace that facilitates a seamless interaction between borrowers and lenders. Borrowers simply request the amount they need, and on the other side, a multitude of lenders, each with their unique terms, compete through a blind bidding system.

Chris Harder explained, “You’re scrolling a vertical feed, and you’re looking for loans that you’d wanna make, and you make what I call a blind bid on it. You don’t know if you’re making a bid that they’re gonna choose or not, so you have to put your best foot forward.. These bids set the market, and the market sets itself for the person in need.”

The Frello Experience

The app promises a user-friendly experience akin to the popular dating app Tinder. Borrowers can scroll through a feed of loan offers, making the process both engaging and accessible. The blind bidding system creates an environment where lenders compete to offer the most attractive terms, providing borrowers with a range of options to choose from.

Phase Two: Loan Marketplace

Frello doesn’t stop at revolutionizing traditional lending. In phase two, the platform will introduce a loan marketplace. Lenders can set specific parameters, such as risk score, loan duration, and interest rates. Frello’s algorithm then auto-bids on relevant loan requests, creating a marketplace for approved borrowers.

“What’s cool is because they’ve set their preferred terms, we can now know for a fact that we could make 500 or 600 or 1000 loans with their money under those parameters,” Chris Harder explained.

Risk Mitigation and Investor Confidence

Concerns about repayment are addressed through Frello’s proprietary risk score and an insurance pool that guarantees reimbursement for any lost loans. Chris Harder emphasized, “Every single loan is guaranteed backstopped by an insurance pool that reimburses any lost loans.”

Frello aims to take the fear out of lending while providing lenders with unmatched returns. The platform allows individuals to invest in their community while enjoying the financial benefits of multiple successful loans.

“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,” Chris Harder said. “And at the same time, we’re gonna give people on the other side who are willing to do good and make these loans, we’re gonna give them unmatched returns.”

Changing the Financial Landscape Forever


“We’re taking the power away from the institutions that don’t really care about you, and we are putting it in the hands of the people, the way it was supposed to be,” Chris Harder asserted.

The Birth of Frello

Frello’s journey began with a vision that founder Chris Harder couldn’t shake off. Realizing the potential impact of his idea but acknowledging its challenges, he turned to his friend and now business partner, Matt Marek. Chris Harder explained, “I knew that this was my mission… but boy was it outside my wheelhouse. But I also knew that I could find someone to do the parts that I was not gonna be good at. And that person happened to be my now business partner, Matt.”

When Chris Harder pitched the Frello vision to Matt Marek, the response was overwhelmingly positive. Matt, though hesitant to dive back into a big tech venture, was drawn to the vision and agreed to join forces on one condition: his team had to be on board, too. 

Fortunately, after a convincing Zoom pitch to Matt’s team, they embraced the idea, and together, they embarked on a year-long journey of building wireframes, stress-testing ideas, developing financials, and assembling a team – all made possible by the expertise and commitment of the original tech team that had previously achieved a nine-figure exit.

Join the Frello Revolution

Frello invites individuals to be part of this groundbreaking financial revolution. Whether you’re in need of a small personal loan or looking to invest in your community, Frello provides a platform that makes lending and borrowing both engaging and rewarding.

To learn more about Frello and its innovative two-sided marketplace, visit their website. Download the app and be a part of the Frello community, where financial empowerment meets community-driven lending.

Published by: Nelly Chavez

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