Social Finance Obtains $77,200,000 Series B Financing

  • Feed Type
  • Date
    9/12/2012
  • Company Name
    Social Finance
  • Mailing Address
    220 Halleck Street San Francisco, CA 94129
  • Company Description
    Social Finance (SoFi) was founded in early 2011 by a team of Stanford GSB alumni who recognized that the current practices of student lending had become impractical in the face of a changing world and growing student demand. Recognizing the power of the social web and our connected world, SoFi aims to restore the historical norms of lending to help students meet their financial needs through alumni involvement.
  • Website
    http://www.sofi.org
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $77,200,000
  • Transaction Round
    Series B
  • Proceeds Purposes
    The new capital will be used to help SoFi grow its alumni investor base and reach new student and graduate borrowers as it expands beyond 78 schools this fall.
  • M&A Terms
  • Venture Investor
    Baseline Ventures
  • Venture Investor
    DCM
  • Venture Investor
    Renren