Social Finance, Inc., a San Francisco, CA-based provider of a peer-to-peer lending platform, raised $80m in Series C funding.
The round was led by Discovery Capital Management, with participation from Peter Thiel, Wicklow Capital and existing investors. In conjunction with the funding, Discovery’s S.P. “Wije” Wijegoonaratna is joining the company’s board and Peter Thiel and Duncan Niederauer, CEO of NYSE, as company advisors.
The company intends to use the funds to expand its presence and expand its loan offerings to include mortgages and personal loans, and bolster the options in which individuals can invest.
Led by Mike Cagney, CEO, SoFi provides a peer-to-peer, affinity-based marketplace that connects high-quality alumni borrowers and investors directly. Launched in 2011, SoFi has funded over $450 million in loans and has more than 5,000 members.
The company also provides unemployment protection, career services and an entrepreneur program.
FinSMEs
03/04/2014
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