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SoFi Stock
Online personal finance company
About SoFi Stock
Social Finance (SoFi) is a finance company that offers a range of lending and wealth management services. The company primarily caters to recent graduates and offers variable and fixed rate parent, personal, and MBA loans, mortgage refinancing, and other products. SoFi states that it offers low rates due to its digital platform, which allows it to keep expenses lower, and its more selective underwriting process. SoFi claims that they look beyond credit scores and debt-to-income ratios and consider additional factors like estimated cashflow, career, and education. While other lenders charge higher rates to account for the possibility that borrowers won't pay back their loans, SoFi argues that its underwriting process helps ensure its members have a high likelihood of making their payments.
Based in San Francisco, California, the company was founded in 2011.
Source: Crunchbase; SoFi
Investors
Baseline Ventures
SoFi, Machine Zone, PagerDuty, CircleCI, AltSchool, Shape Security, TrustArc, Instagram, TaskRabbit, Weebly
Institutional Venture Partners
Snap, SoFi, AppDynamics, Compass, Slack, Twitter, Domo, Zenefits, Dataminr, Lime
Manhattan Venture Partners
Flipkart, SoFi, Wish, Postmates, Turo, Lime, Rent the Runway, DraftKings, Zocdoc
Morgan Stanley
Flipkart, SoFi, Affirm, Domo, Lookout, NJOY, Foursquare, SurveyMonkey, Doximity, Rocket Lawyer
Qatar Investment Authority
QED Investors
SoFi, Avant, Nubank, MediaMath, GreenSky, Prosper Marketplace, Optoro, Flywire, LendUp, Roofstock
RPM Ventures
RSC Capital
Silver Lake Partners
Reliance Jio, SoFi, Unity Technologies, WP Engine, Credit Karma, Venafi
SoftBank Capital
Alibaba, SoFi, Compass, Snapdeal, Plenty, Guardant Health, BuzzFeed, Fitbit, Lemonade, Kabbage
Third Point Ventures
Lyft, SoFi, Wish, SentinelOne, Upstart, Aryaka Networks, Yellowbrick Data, IEX Group, Kumu Networks
Wellington Partners
SoFi, Spotify, UiPath, Pure Storage, The Honest Company, Mozido, Redfin, ForeScout Technologies, New Relic, Onfido
Funding History
| September 2011 | $3.9M |
|---|---|
| September 2012 | $81.9M |
| November 2012 | $2.2M |
| March 2014 | $80.8M |
| January 2015 | $232M |
| July 2015 | $1.0B |
| March 2017 | $500M |
| May 2019 | $450M |
| May 2019 | $784M |
| May 2020 | $880M |
Management
Chief Executive Officer
Anthony Noto
Interim Chief Financial Officer
Chris Lapointe
Chief Technology Officer
Tony Donohoe
Press
TechCrunch - Apr, 21 2020
Forbes - Apr, 9 2020
TechCrunch - Apr, 7 2020
Wall Streets Journal - Sep, 24 2019
TechCrunch - May, 29 2019
TechCrunch - May, 8 2019
Fast Company - May, 7 2019
Wall Streets Journal - Apr, 19 2019
Wall Streets Journal - Mar, 1 2019
TechCrunch - Feb, 25 2019
Asset Securitization Report - Sep, 14 2018
PR Newswire (press release) - Sep, 13 2018
CNNMoney - Aug, 30 2018
Pymnts - Aug, 17 2018
bloomberg - Aug, 6 2018
Fast Company - Jul, 17 2018
PYMNTS.com - Jul, 3 2018
TV News Check - Jul, 2 2018
Fast Company - Mar, 8 2018
Other Companies
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Some data provided by Crunchbase
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